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traditional bank

also referred to as: traditional banks

7 statements across 7 episodes · 2 bullish · 3 bearish · 7 people on the record · first statement Apr 2, 2015 by Marc Bernegger · across every show →

Everything said about traditional bank, oldest first

Apr 2, 2015 negative
Insight
Offering traditional banking for free rarely builds a large business
“Just by offering the same service like a traditional bank is doing let's say for free and much more efficient. It's great for the customer, but perhaps difficult to build a big business out of it.”
Marc Bernegger Apr 2, 2015 ▶ 7:40 20 VC 024: Financing Finch with Marc Bernegger of Orange Growth Capital
Apr 13, 2015 positive
Insight
Greg Rogers: Fintech founders should partner with big banks for distribution
“I would say don't be afraid to collaborate. There are a lot of fintech entrepreneurs who are, you know, they're staying away from the traditional banks because they feel like they're trying to disrupt them. But my one recommendation would be, you know, big ban…”
Greg Rogers Apr 13, 2015 ▶ 25:14 20 VC 027: Greg Rogers on Techstars, Mentors and The Potential for Fintech
Nov 30, 2018
Assertion Not publicly verifiable
Traditional banks face customer acquisition costs of £100 to £150
“Typically you're seeing CACs of 152 102 150 pounds.”
Tom Blomfield Nov 30, 2018 ▶ 19:23 20VC: Monzo's Tom Blomfield on The 3 Phases of Startup Scaling, The Secret To Building a 1.2m Community with No Advertising & How To Use Boards As A Tool To Instil Operational Excellence
May 24, 2021 negative
Insight
Morris: Few banks monitor the fintech ecosystem effectively to invest
“So there's never an easy time for a bank to invest in fintechs unless they have their finger on the pulse and are monitoring the ecosystem really, really carefully. And very few of them do that.”
Nigel Morris May 24, 2021 ▶ 31:56 20VC: Why Bundling Does Not Work, How The Best Founders Analyse Unit Economics, Why The Way We Approach Mental Health in Venture and Startups is Wrong with Nigel Morris, Co-Founder & Managing Partner @ QED Investors
Dec 3, 2022 bearish
Prediction Not checkable as stated
Hockey: Traditional banks offering cradle-to-grave direct services are dead on arrival
“I think the banks that kind of view themselves as still like, hey, we know our consumers and we know our businesses. We're going to offer you cradle to grave. I think they're I think they're dead on arrival.”
William Hockey Dec 3, 2022 ▶ 52:21 William Hockey: How I Founded Plaid; The Ultimate Cold Email Tip; Hiring Lessons | 20VC #955 · 20VC with Harry Stebbings
Feb 16, 2024 neutral
Assertion Not checkable as stated
Hecker: Traditional European banks are Trade Republic's primary competition
“Our competitors are much more the traditional banks in continental Europe.”
Christian Hecker Feb 16, 2024 ▶ 36:10 Christian Hecker & Johan Brenner: The Biggest Fundraising Lessons Having Raised $1.3BN | E1116 · 20VC with Harry Stebbings
Jun 21, 2024 positive
Assertion Not checkable as stated
Revolut achieved a £9 CPA versus £250 for traditional banks
“So I think back in the days we had a CPA of around nine pounds, which was like, compared to banks that had like 250, it was quite low.”
Val Scholz Jun 21, 2024 ▶ 6:42 Val Scholz: How Revolut Acquired Their First 10M Users: Tips, Tactics & Strategies | E1168 · 20VC with Harry Stebbings
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