2009 incumbents networking 
TechCrunch
JULY 26, 2021
CEO Karkal has a long history in the fintech space, co-founding Simple, an app unifying various accounts into one accessible bank card, in 2009. It was acquired by BBVA in 2014 for $117 million and shuttered earlier this year. Karkal told TechCrunch that the idea for Sila was born out of frustration while starting another bank.
abovethecrowd.com
JUNE 17, 2014
First, they believe that the current offerings from the financial incumbents are lacking. banking system is the Automated Clearing House network, broadly known as ACH. This supposedly “electronic” network enables people to transfer funds from one bank account to another. The basis of this argument is really two fold.
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Unvalidated Learnings
JUNE 8, 2017
Not only did the incumbents fail to grasp the potential value, but it would have made no sense for them to go after such a small unprofitable niche, which would have been irrelevant to their top line, and eating away at their bottom line (CDs were 90%+ gross margin products back then). most of the value created would accrue to new entrants.
abovethecrowd.com
DECEMBER 18, 2017
In 2015, 46 percent of workers were enrolled in a plan with an annual deductible of $1,000 or more, up from 38 percent in 2013 and 22 percent in 2009. Narrow Networks — Narrow networks are an interesting response to the above market prices that the large hospitals and groups are pushing on the broader market.
Y Combinator
APRIL 26, 2021
Even with $125K from YC and $1–2M in venture funding, a startup’s credit limit is still likely to tap out at $20K from an incumbent creditor—which is not nearly enough to cover software, marketing, and other expenses. Stripe’s launch in 2009 made it possible for startups to easily collect payments online via developer-friendly APIs.
TechCrunch
OCTOBER 27, 2021
But it feels like we have written far less about fintechs that exist solely to help the incumbents better compete with fintechs. in 2009 to help the credit card giant incorporate new digital payment capabilities, one of which included virtual cards. . “I We help the incumbents close the gap relative to those players.”.
abovethecrowd.com
APRIL 17, 2013
A sustainable platform or marketplace is one where the value of being in the network clearly outshines the transactional costs charged for being in the network. This way, suppliers will feel obliged to stay on the platform, and consumers will not see prices that are overly burdened by the network provider. The rest is history.
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