FintechRisen
FintechRisen on Hacker News
Posted by
FintechRisen on Friday October 07, 2022 @01:27PM
from the self-post dept.
Wanted to throw out a vibe check to see what sentiment is towards what happens next in the market. Feels like layoffs are already happening, but i'm more curious what this means for wages. It felt like wages were finally watching up to inflation (at least making progress), but now that markets are cooling i wonder how it will be affected.
I recently took some significant time off from work and it was a game-changer for my psyche. Tbh I didn't do any trips, I didn't have any absurd adventures planned (although if the circumstances were a little different I might have planned some), but I really just hung out with my kids and spent time bonding with them. It was extremely recharging to have that time to spend with them and also for my hobbies. A great reminder about how I can improve on work-life balance.
I think as long as the ad dollars continue to pour in, the platform will remain strong. As much as it has been affected in the U.S. I wonder how strong it still is in other countries outside of the US market.
I mean, he's gotta have plans to monetize it somehow. I'm curious if he has aspirations to turn it into a payment super app like you see with WEchat in Asia.
Don't have a good answer for you here, but I know there are a few companies that offer SDKs to speed up the process. I've heard of a few people that leverage flutter, but I think ultimately it depends on the type of app that you want to roll out. Neobank, a financial management app, savings app, etc. My guess though is around 6-8 months depending on how much you build yourself vs buy from a 3rd party. Best of luck!
Different aggregators will have different connections established based on relationships and also the priority of the bank. I've seen a ton of different options based on the fintechs apps I use from Plaid, MX, Finicity, etc. Long story short, it's usually the big banks. Different aggregators have different priorities around the amount of traffic they send over these connections though. Candidly I don't know why that is, but I have some hypotheses. Ultimately though you can assume all of the above names will have accounts like Chase, Wells, Citi, Cap One, BOA, US Bank etc.
I think this is the biggest thing here. User credentials need to be protected and hopefully this type of open-market approach brings about more democratization of data.
We've found that Plaid only leverages around 3-4 Direct API connections for some reason, why other aggregators like MX, Finicity, Yodlee all have 10+. It seems suspect to me because Plaid doesn't seem to be prioritizing the protection of user credentials the same way others are.
MX and Finicity both have OAuths to like 80+% of the top 20 financial institutions. There's a reason Plaid doesn't want people switching to them and it's hella sus
I'm very familiar with both Finicity and MX. I know that MX isn't an aggregator of aggregators. Stop lying bro. Tell people about how you abuse credentials and take some responsibility rather than trying to constantly pass the buck and blame others.