Just thought I would drop in and share this video. He talks about all the difficulties and regulations within starting a fintech app. Basically its not easy and it can be costly to manage other people’s money
Love it! I respect the concept and the hard work put into this project.
Reality right around 7:25 in the video hits hard. I feel for a lot of entrepreneurs trying to build fintech on their own.
“Turns out, you need a whole lot of certifications when you are going to be dealing with people’s money. A whole lot of compliances, you need to be compliant with this and than. More than the compliances, the main problem was there are a lot of fees when i comes to making transactions.”
“There’s a lot of processes around it and the fees are not standard in a sense that they are specific to a business, and what you want to do.”
“That’s one of the hard lessons of building this thing, I actually don’t regret some of them.”
Good on you wiredmartian, that’s an incredible journey to build, learn and navigate all of what you did. Much respect!