Hockey: Building on traditional banks takes 9-18 months and limits features by 90%
William Hockey · William Hockey: How I Founded Plaid; The Ultimate Cold Email Tip; Hiring Lessons | 20VC #955 · 20VC with Harry Stebbings · Dec 3, 2022 · at 32:51
William Hockey is the co-founder and co-CEO of Column and former co-founder of Plaid. He is discussing the friction software developers face when building products on top of legacy banks.
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“However, anytime you build in financial services, you have to build on top of the bank. And to do this right now, it takes nine, 1218 months. It's extremely painful. It's extremely expensive. And you can only probably ship 10% of the products that you want, right?”
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