I’ve been accused of falling for the Bank Simple hype. Just to prove that I don’t discriminate, I bring you MoveNBank, a mobile-optimized banking startup founded by Bank 2.0 author and consultant Brett King.
From what little is disclosed on its Facebook page, Twitter feed and Startuply profile I’ve assembled the following facts:
Timeline:
- Founded July 2010
- Private beta to begin soon (per 1 July 2011 Tweet)
- Soft launch scheduled for July 2012
Company:
- Global startup with HQ in NYC (Madison Square Park, 25 W. 31st)
- Founder and Chairman is Brett King
- 8 employees
Product description:
- Mobile only, with no paper or plastic
- NFC-enabled app
- Incorporates “gamification” in UX
- According to Startuply, “reinventing credit scores and more with an open, social transparent, and viral model” (sounds P2P lending-esque)
Bottom line: MoveNbank is looking to leapfrog the competition by removing all vestiges of old-school banking. No branches (of course). No paper (no surprise). And no plastic (what?).
That’s how ING Direct got its start (they did have paper statements), so it’s not unprecedented. But if MoveNbank plans on offering payments, it will be harder to pull off. But with a soft-launch still a year away, it should be able to ride the NFC wave expected to roll across the globe in the next five years.
Are there any other remote banking startups I’m missing? Drop me an email (jim@netbanker.com).
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MoveNbank placeholder page (11 July 2011)
