Challenger banks productizing/democratizing financial services
Many challenger banks and fin-tech companies are finally reaching the scale where they can do interesting products that were only available with scale.
This has already led to a large consumer benefit: like no transaction fees for trading stocks and high interest savings accounts. As the impact expands we are going to see benefits across lending and other payment types.
Tools like marqeta.com reduced the barrier to entry in the credit card space far enough that you could launch a credit card startup with <$2m of funding.
Once you get the barrier to entry low enough you get a non linear affect in innovation.
This is also playing out in the checking/saving account space.
This question is part of an AMA with Immad Akhund.
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Curious, do you see something that’s made so many credit card startups pop up recently, beyond it being a trendy space? Change in regulation or something else that’s made it easier to launch?