“Although this unbundling has introduced greater efficiencies and a better cost basis for both consumers and businesses, it has also perpetuated and exacerbated the fragmentation that underpins the financial landscape,” explains Curve co-founder and CEO Shachar Bialick. “As a user, I know all too well the requirements to own and manage multiple different cards, accounts, and services to stay on top of my financial self and save money”. curve_transactionsThis might consist of a personal and business account — Curve is initially targeting entrepreneurs and freelancers — an Amex, Virgin Money or Nectar card for their respective rewards programs, something like TransferWise for sending money abroad, Nutmeg for investing, and Mint for managing your spending. The more financially savvy you are, taking advantage of all the various unbundling that is happening, the harder it is to manage and keep track of your money. It’s this cognitive overload that Bialick and his team are on a mission to reduce.
“Looking at other industries, it is clear that where technology is introduced, convergence occurs,” he says. “The smartphone is a great example of this – bringing productivity tools, social tools and more all into one place. It is probably safe to assume that in the future this financial fragmentation we currently experience will be solved by connecting all those services through one single platform/interface.”
Looks like a serious platform play.
This is absolutely true:
“We believe that smartphones have the potential to provide the infrastructure for that platform”.
Makes you wonder though what Apple and Google might plan here mid- and long-term.