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Banq

All of your payments in one place

Banq

All of your payments in one place

Banq is your multi-payment tool: collect cash from groups, split bills, fundraise, gift, tip, borrow, and more. Go beyond just sending and requesting money. Simple powerful reporting and alerts means never losing track of your money.

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Screenshots look great!

There obviously are a lot of finance tools and services available out there. It looks like Banq's differentiator is having everything in one place. How do you plan to compete with services that are focused on one specific task (e.g. fundraising) and can focus all their resources on that one thing?

What are some of the benefits of having one system to manage it all? Isn't the beauty of money that it's universal and can be easily used across different services?
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Great question Marc. We are seeing (with services like venmo and cash) that it isn't about the transaction, it's about the experience around which those transactions happen. We are seeing people use venmo in creative ways to accomplish complex payment situations while lacking any reporting and alerts: recurring payments, collecting from many, split a bill unevenly, IOUs, simple 1099wage pay to babysitter, etc.

I don't see us competing against the specialized tool with feature depth. The analogy I like to use here is the DIY home improvement guy walks into a Hardware store and probably doesn't buy the commercial grade cordless drill, you go for just enough to get the job done, maybe even check out the 3-in-1. The power is really in the experience around simple to complex payments in one place.

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