The problem with dropping a new company or product focused on financial services is that you are dealing with important personal information. It seems difficult to imagine a company coming out of nowhere and asking people for their account numbers, SS#, and other information that is important to keep secure. The vast majority of people don't have the ability to evaluate the security any new organization puts in place either so, like the rest of finance, it is a trust game.
It seems like there are two ways to address this:
1. FInd a way to establish trust immediately. This is probably best done through a partnership with a large and well-known institution that is already trusted. This sounds like a good idea unless it is anathema to the idea that you want to build.
2. Start small. Super small. Start relevant to your niche but not based on the information above. Something that is not as key and that won't be as difficult to get someone to share with you.
Point #2 seems more interesting to me and there is no shortage of interesting data points around people's financial life. The question is what is the right place to start?
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