Anson Parker

speaker
202 appearances 1 recordings 1 series first heard Oct 2020 last heard Oct 2020

Anson Parker’s voice in public audio — every appearance, attributed to the second.

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So it's probably going to be more a question of, you know, do the neos have all of the things you want yet?
You know, most neos don't have some of the lending stuff or, you know, some other things you might expect from a bank.
It could be joint accounts or...
you know, just some of those, you know, more involved financial products that Neo is just still building out because most of them have only been in the market for one or two years.
So I think it's going to be more around, you know, is it the right time for you to move to a Neo?
I mean, I think from Up's point of view, we've really focused on spending and saving as kind of the two things we wanted to nail first.
And, you know, if you're in that phase of life where that's most of your banking, then Up's kind of perfect for that group.
And that does tend to be sort of
18 to 35 kind of demographic it's not that we didn't want you know 40 or 50 year olds using up we just focused on those problems and they tend to kind of skew younger at least in terms of taking care of like you know the requirements that people would have from a bank at that age
People talk about that sort of being the wallet, right?
They talk about the federated wallet, which is this idea that your credit card might be with some provider over there and your transactional banking is with someone else.
From our point of view, we really wanted to focus on the transactional piece.
For us, that's kind of the heart of people's money and the best place to be if you really want to make a difference.
We could have probably done an awesomely executed premium credit card, for example, but it just wasn't what we wanted to focus on.
And so for us, you know, we are definitely looking at ways, you know, over the next year or two that we can sort of integrate even better with, say, you know, a mortgage you have elsewhere or a credit card you have somewhere else to help you manage the repayments or save or whatever it is.
So I think that's definitely that acknowledgement that we're not just the be-all and end-all for everyone is important and probably does differentiate us
maybe from where the traditional started out.
And it sort of frees us too, right?
Because we don't have to build all of that breadth of product and service.
We can just focus on less and do them better.
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