BankSimple…Semantic and executing Web at work!

I don’t like the numbered Internet but the “first look” at BankSimple shows that Web 3.0 or better Semantic & executing web is just around the corner (if it isn’t already in place somewhere else!). This BankSimple way of banking helps the account owner to plan his financial actions, savings, ….

The ‘safe to spend’ value should help the account owner to manage his spending pattern, taking in account the actions you want to take and expenses you can have during the next time period.  Their introduction video shows how this works…

It’s still in a beta testing phase, but cool to see how the bank (web) is doing the thinking for you! Off course you stay in control all the time of your spending (and can change the predicted spending pattern). Maybe one sidenote: what about my privacy? Or does my bank already know all this stuff about me? Probably they do, so let’s use it to better manage my financials!

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Posted in Flat Business
9 comments on “BankSimple…Semantic and executing Web at work!
  1. Looks very interesting and neat. But I am somewhat concerned about safety issues, from what I saw in this video is that a simple username/password grants you access to make transactions. A normal webbanking requires access through a digipass or cardreader, and when you’ve logged in, you still need your digipass/cardreader if you want to perform transactions to unkown creditors. And I’ve got another question, is this a bank application (which connects to your existing bank account like PayPal) or is it an online bank?

    • @Nicolas: BankSimple is an online bankplatform to start in 2011…We’ll see wether they succeed to realy launch! BankSimple is an online bank; who want’s to make a difference in personal banking (easy to use online platform, mobile environment, …) Regarding security, yes this is an issue….but even traditional Belgian banks are turning their platforms mobile without the digipass/cardreader (you only need it the first time, then you use a personal password). Off course our Belgian banks don’t do the thinking for us YET, although they have the information needed.

  2. I love the idea, if it is secure of course, would make things a lot easier and a better view on your finances, I think my financial balance would be better if I could use something like this, especially abroad or on holiday, where you have the tendency to spend more money than you were about to spend. Plus an interesting calculation of what you might spend on certain products or services is a plus.

  3. hey Tom, nog een vraagje, deze moet je niet laten staan, heb de vorige comment via twitterlink op je blog gedaan, maar nu staat daar een andere foto (een kussend koppeltje) naast mijn comment, die niet van mij is, hoe kan dat ?

  4. Sam Wouters says:

    I read about this before and really liked the convenience.

    I recently opened a new bank account in Belgium and it already looks way too complex and inconvenient, even after using it for weeks now.

    I hope the security issue will be looked into, because it might put a lot of people off.

    On the other hand it might be worth keeping smaller sums of money on there for small transactions and leaving the big deal for more secure payment methods.

  5. Maarten Weyn says:

    I ready like the idee of the whole bank thing, but is it safe ?
    it’s still your money that you earned @ work.
    but yeah , the bank system that’s in use now it’s to complex all the differend things and code’s that you need to press in on an extrenal machine.
    I would like to read more about this, i like the online banking.
    The only thing that holds it from getting super populair, is that we don’t know eff it safe to do ower bank transactions.

  6. Mariusz Kaczmarek says:

    Awesome idea, easy to read interface and intuition navigation, but like everyone stated before it have one major flaw – the security of our money and also of our personal information

    First the transaction process should have some more additional features that will make you feel that your money are safer. For example for every transaction that you are willing to do, you are receiving special code on your mobile phone and to complete the transaction you have to rewrite it. This will add additional security layer to your account and won’t be time consuming. Probably they provide us functions like that, at least we can hope for it.

    Another thing is about our personal information. We are giving rather huge amount of it – not only about our past, but also about our future plans. Imagine that you wrote for your next goal ‘buying a new car’ and when you nearly reached the goal there is a huge spam on your mailbox from the car dealers. On the one hand it is convenient, but on the other they are taking away our privacy.

    Anyway I will give a chance to BankSimple, if I ever will have an opportunity.

  7. Rodrigo Gelle says:

    I am as well concerned about the safety issues. Hackers these days can enter the most protected websites, so why wouldn’t they enter a persons bank account? As long as this system isn’t hackerproof, I will probably not use it. I prefer using cash anyway!

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