Re:Mondo – A “Full Stack” Mobile-First Bank
by jhuckestein on Monday June 01, 2015 @10:52AM
(#9638969)
Mondo CTO here. Good question, thanks. It's "full stack" in the banking industry sense, not the "full stack web developer" sense.
Most challenger banks don't pursue a banking license and have to work with an existing licensed bank. This means they are constrained by their processes and legacy technology (think cobol on mainframes). We don't have those problems because we own the full "stack", from the user interface and the connectivity to the payment schemes all the way down to holding the actual funds with the central bank.
Long ago in the late 90s I was an intern in a financial software company. I was told a number of tales and legends, including that one of the major British clearing banks still operated internally in pounds,shillings&pence behind a conversion layer. I wonder how true that was.
It's true, though no-one seems willing to name the offending bank in print.
Example: http://www.ft.com/cms/s/0/5d1b0346-2af8-11dd-a7fc-000077b076...
Re:Mondo – A “Full Stack” Mobile-First Bank
by contingencies on Tuesday June 02, 2015 @02:58AM
(#9644322)
Hi CTO, are you aware that right now you ask people for their email address, but the page to which the form directs 404's with a picture of a monkey? Not ultra professional when attempting to convince people you are a trustworthy finance business they should give all their money to.
Re:Mondo – A “Full Stack” Mobile-First Bank
by jhuckestein on Tuesday June 02, 2015 @04:33AM
(#9644604)
Thanks for the report. We're using a service called Mailchimp (hence the monkey) for mailing list management and their subscription API seems to fail in about 2% of cases.
Would love to hear more details if you can reproduce the issue.
Re:Mondo – A “Full Stack” Mobile-First Bank
by contingencies on Tuesday June 02, 2015 @11:54PM
(#9650485)
It's mystically working now. Previously it reliably failed.
Re:Mondo – A “Full Stack” Mobile-First Bank
by shassinger on Monday June 01, 2015 @10:54AM
(#9638990)
I'd love to see an OSI-style diagram of the banking stack
Re:Mondo – A “Full Stack” Mobile-First Bank
by tomblomfield on Monday June 01, 2015 @11:11AM
(#9639174)
Jack Gavigan took a shot at a high-level picture a year or two ago - http://jackgavigan.com/2014/04/14/disruptive-bank/
And Microsoft publish a "reference architecture" - http://download.microsoft.com/download/C/5/F/C5FCCA52-1056-4...
"We aren’t a bank yet, but we are applying to the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) for authorisation to become one"
Edit: But a serious question though about your announcement. Do I really care that you are a "Full Stack" whatever bank? I'm kind of wearied by the use of "Full Stack This", "Full Stack That", this usage just makes me roll my eyes even more.
If this is a way to hit up interest from techies like myself, at least explain what's in your "Stack" and how you're using said technology to differentiate yourself from say Lloyds, RBS, Barclays, First Direct etc.