Startup bank Mondo raised £1m crowdfunding in 96 seconds

Re:Startup bank Mondo raised £1m crowdfunding in 96 seconds by diskcat on Friday March 04, 2016 @11:36AM (#11224869)

Yeah. The majority of the people are normals. Just as they wouldn't trust a quantum random number generator to replace the spinning ball contraption for lottery drawings, they would not trust a 'branchless bank'.

There is something affirming about a tangible building especially when it comes to money. And that's why bitcoin will never replace shiny transition metal.

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Re:Startup bank Mondo raised £1m crowdfunding in 96 seconds by skrause on Friday March 04, 2016 @02:11PM (#11226119)

"Branchless banks" are nothing new. In Germany we call them "direct banks" (https://en.wikipedia.org/wiki/Direct_bank) and in 2012 they already had 15.8 million customers which is around 20% of the population. And the number of customers has only been growing since then. Most people who are only using online banking and ATMs anyway don't really have a need for branches anymore.

[ Parent | on HN ]