How new bank Xinja is putting its design into the hands of customers
Crowdsourcing culture has achieved a lot of the years, and while banking isn’t something you’d expect it to be connected to, it’s certainly one to keep an eye on.
While there are plenty of things that set Xinja apart from the rest of the banking world, its biggest drawcard is that its customers are invited to help build the platform into what they actually want it to be. It’s not a glorified suggestion box, either, the company legitimately shares its product roadmap with everyone, a move that would send most developers into a full-blown meltdown.
The very new bank was founded by its CEO, Eric Wilson, and joined along the way by around 2,500 “Founding Xinjas” – customers who got involved in the crowdfunding raise and now own a piece of it all.
Xinja is completely digital, which means it’s been built from the ground-up with mobile in mind, rather than as an afterthought. It might not have all of the bells and whistles most established online platforms do just yet, but it certainly has a solid base to build on, with features like Google Pay, Apple Pay, biometric security, and the ability to open an account in seconds. Additional functions like real-time payments will continue to roll out as Xinja is expanded, and you’ll be able to track the development as it happens.
The bank also features a competitive high-interest savings account that allows for quick access via the Xinja app, whether it’s to make a deposit or a withdrawal. Known as Stash, it offers 2.25% on balances up to $245K with no intro periods or minimum deposits/payments.
With so many people willing to shape the bank’s services and mobile app, the results are likely to be more in line with what its userbase actually wants.
To read more, please click on the link below…