Tren Griffin @trengriffin I work for Microsoft. Previously I was a partner at Eagle River, a private equity firm established by Craig McCaw. I am on the board of directors of Kymeta. Dec. 27, 2019 1 min read

The financial industry adopting APIs enables a banking service that "allows clients to go from simply managing their bank transactions through an app, to having all of their financial accounts optimally managed for them." Andy Rachleff  https://www.americanbanker.com/opinion/mobile-banking-apps-need-to-go-beyond-the-basics 

"Imagine a world where once a paycheck has been direct deposited, the bank automatically pays the customer’s bills and then routes the remaining money to where it needs to be based on that consumer's financial goals and lifestyle."

"Self-Driving Money" is the goal.

Andy Rachleff: 'We realized [a high-yield checking account] is a better entry point than an investment account."

"Our average client adds 40 to 50% each year [to their account balances]."

"Big banks are not good at writing software."  https://riabiz.com/a/2019/12/6/after-andy-rachleff-explains-wealthfronts-corrective-to-banking-jon-stein-told-how-betterment-is-investing-heavily-in-banking-but-mindful-of-frothiness 

"By the end of the first quarter, Wealthfront aims to launch a debit card, automated bill pay and direct deposit. After the second quarter, it will have other automated features ready like rerouting of leftover money into clients’ investment portfolios."  https://www.financial-planning.com/news/wealthfront-ceo-andy-rachleff-discusses-banking 

"To figure out what you spend and save every month, that's deep learning. We use that to figure out what you spend. We use optimization techniques to make sure you have the right amount. You have just one account."

An unbundle, then rebundle strategy.  https://www.google.com/amp/s/25iq.com/2018/03/31/friar-tuck-financial-services-a-classic-unbundle-re-bundle-strategy/amp/ 


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