Ask HN: Recommended FDIC-insured bank that supplies services to fintech apps?

3 points by djklanac 4y ago ↗ HN

I am interested in building a fintech app that would need to open savings accounts on behalf of users. I don’t have any ability to negotiate such an arrangement directly with a bank. My hope is to find a bank that caters to fintech apps with API-enabled banking services that are FDIC-insured. Think FDIC-as-a-service in the same way that Plaid offers connectivity-as-a-service.

3 comments

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JumpCrisscross 4y ago ↗

The way I’ve seen this done most successfully is through partnering with a small, ambitious (often community) bank. If a bank is providing everything you need via its API, your value add (a) has already been commoditised or (b) is superficial.

tinakarraz 4y ago ↗

I work on Stripe's banking as a service team, and our Treasury API gives platforms the ability to create FDIC insured bank accounts on behalf of their users. Would be happy to chat -- I'm tinakarraz@stripe.com

djklanac 4y ago ↗

Thank you both for your answers! Great ideas.