Do you wish your bank had none of the financial security of a real bank, and all of the zany fun of a web 9.0 startup? Do you wish your bank gave you exciting badges and points instead of convenience? Movenbank’s still in closed alpha testing mode, but read on! TheNextWeb’s Courtney Boyd Myers quotes Movenbank’s founder with this pile of shitdrivel:
“This is the reboot of Banking as we know it. Movenbank will combine the best aspects of both a financial services provider and a customer-focused, tech start-up. It is integrating mobile, online engagement, social media and gamification into a new kind of customer experience for banking products and financial services,” said King.”
I think it’s safe to say there will be more buzzwords in this bank than there are units of currency. So, OK, let’s ignore all of the massive shortcomings of a bank where you can’t withdraw any money, and are confined to an extremely limited set of NFC-enabled phones and stores if you want to “buy things.” Movenbank’s not just neutered, they’re obnoxious — social media and gamification?
I don’t want my bank to be a game. I don’t want to meet friends through my bank. I don’t want to earn points, unless they’re redeemable in the real world. And these aren’t. Your money isn’t a game. The “future of banking” will be a lot like it is now: reliable, physical, miserable, full of inhumane fees, and eventually, wonderfully convenient thanks to NFC. But the future, Movenbank ain’t. [Movenbank via TNW]
TSH
Tuesday, October 4, 2011 at 9:46 AMWhat are bank branches good for anyway? Does any customer still use them regularly? They’re handy for business and for services unrelated to regular transactions (e.g. loans), but I’ve never used them for anything except a card PIN reset and currency conversion.
Assuming zero fees and/or a good interest rate, the only reason I’d not go with a pure internet-only version of my current bank (not too keen on a new startup bank) is that I still use cash quite frequently.
EckyThump
Tuesday, October 4, 2011 at 9:47 AMGotta say, it does sound rather puerile on the face of it! I want to know how they make money? It can only be from what I can only imagine would be exorbitant fees!
Mku
Tuesday, October 4, 2011 at 12:51 PMuBank??
Womp
Tuesday, October 4, 2011 at 5:06 PMWait, you guys at gizmodo thought bitcoins were the shizit, but you turn your noses up at this?
They seem pretty damn similar to me, you send your money off to somewhere on the internet (where the man can not hassle you with his evil financial and security rules), and then at some future date you wonder where all your money went.
Would you gizmodo guys care to explain the difference in your views regarding bitcoins and this service?
Meritico
Friday, October 7, 2011 at 5:26 PMSince it’s only in alpha I think it is a bit hasty to be throwing stones. Also this new online bank may just end up like the child of Pay-Pal and a Bank. It could be really useful for those of us that do more online shopping than any real world shopping.