Comments on: I Want to Start a Bank

By: Dean Procter

Dean Procter — Sat, 28 Aug 2010 01:41:37 +0000

I’d be (am) looking at being the banking mechanism…
ie. the card (if it was still 1950).
as it is the 21st century perhaps you’d like to use any model mobile on any network to pay for anything instore, online, tickets, or even off tv or billboards?
No iphone required. Clients don’t even need the interweb.
That’s where I’m going.
Have a few ideas about banking – it’s all about communication and trust isn’t it?
The mechanism is the key and I have the key.
I’m in.

By: Anonymous

Anonymous — Fri, 25 Jun 2010 06:41:00 +0000

seeks to be a pre-eminent provider of equity capital to Pakistani businesses lacking ready access to the stock market, with a focus on increasing shareholder wealth in private companies, and assisting shareholders to release value Lahore stock exchange

By: samtysrt

samtysrt — Fri, 25 Jun 2010 04:41:33 +0000

By: Cesar Torres

Cesar Torres — Wed, 07 Apr 2010 16:41:15 +0000

I randomly came across this post from your post about entrepreneurial calling cards and I think it's absolutely stellar.

I use INGDirect and I'm obsessed with it. It has the potential to be really, really great, but falls just short of this (mainly with the interface on their site). I've been to the ING Cafés in Chicago and in NYC—walking in to both was almost exactly like the feeling I had walking into my first Apple store.

Best of luck with pursuing this! It's an ambitious goal, but like you said, what isn't?

By: Swing for the Fences… or Not? | Michael Karnjanaprakorn

Swing for the Fences… or Not? | Michael Karnjanaprakorn — Thu, 18 Mar 2010 14:17:57 +0000

[...] entrepreneurs default to thinking about launching the next billion dollar idea (mine is starting an online bank). The only problem is that most new entrepreneurs don’t have a “calling card” [...]

By: jasonbo

jasonbo — Tue, 09 Mar 2010 12:54:54 +0000

It is a great idea and a imense market oportunity but if you have the capital behind you. I am in but money makes more money.

By: christaavampato

christaavampato — Sat, 09 Jan 2010 12:13:01 +0000

I love this idea, Mike! I work in financial services now and I agree that the whole industry needs to be turned on its head. Love the idea of the Apple model!

By: John

John — Mon, 19 Oct 2009 16:03:52 +0000

Mike,

Great piece of thinking. Banking certainly is an interesting way to make a good deal of money when done right. And I am a big fan of Andy Beal – who I call The Poker Banker. His approach to banking certainly wasn’t mainstream but has been fantastically successful. Many of his banking techniques are indeed straight from the poker table.

One possibly easier way of getting into banking which is currently being used by many private equity firms is to buy a small existing bank and then work from there. It could help get past alot of the setup work involved – both regulation and putting an infrastructure in place.

Chris Flowers, a well known banking private equity investor (whose bib has been dirtied somewhat recently) bought a small bank – First National Bank of Cainesville in Missouri – with assets of only $14m.

Keep up the good work in the idea generation space.
John (aka The Masked Financier)

By: bryan

bryan — Mon, 19 Oct 2009 14:10:20 +0000

I’m in. I’ll definitely help on the web side of things.

By: itspim

itspim — Mon, 19 Oct 2009 13:47:58 +0000

We have those; sort-of. It’s called Triodos and they do green money (without online hipstershit). Another one is called Bizner; they’re only open to businesses/entrepreneurs (no investment bank) and only live online. Best is: they’re backed by Holland’s largest non-governmental bank, Rabo.

http://www.triodos.com/ & http://www.bizner.nl/

So just M&A them.