Root

Programmable bank account for software developers

80 followers

Programmable bank account for software developers

80 followers

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Neobanks

Launch tags:API•Fintech•Developer Tools

Launch Team

Render: Get up to $100K in startup creditsCloud infrastructure for founders who want to move fast and NOT break things

Promoted

I have absolutely no idea what this is suppose to be doing. How can I code in money? This is going to need a detailed explanation. Your web page does not do a good job of explaining Root either.

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9yr ago

Root

Maker

@dredurr Hey, Root is a bank account that has full API access, so you can use code to manage your money (send transfers, create new virtual cards, categorize transactions, etc)

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9yr ago

@dredurr This is exactly how I felt

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9yr ago

@dredurr I think the reason I know what this was intuitively is because I've thought about how it should exist so often. I hope you're going to bring it to Canada.

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9yr ago

Midas Merchants

@_davisnz @dredurr I felt the same way... Would be good to have some kind of explainer video...

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9yr ago

Penta

Really interesting. Considering setup fees, regulation, KYC, AML, etc, etc., is not cheap, why did you decide to go so niche? This is retail only as well? -Fellow fintech friend

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9yr ago

Root

Maker

@prokotasic hey Luke! :) We started from inside OfferZen.com

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9yr ago

Penta

@louwhopley I see. But why did you start from the backend in, why not the opposite direction? I think it's really interesting, just wondering why this approach considering the costs associated (to build a digital bank) which I mentioned above?

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9yr ago

Can I put an infinite loop on my money with an i++? 😂 Jokes apart, I signed up and looks like there's a waiting list? @louwhopley

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9yr ago

Root

Maker

@mrahmadawais Correct :)

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9yr ago

Maze

This is crazy smart, do you have an article explaining why you've built that? Looking forward to playing with it!

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9yr ago

Root

Maker

@widawskij This might answer some/most of your questions: https://mybroadband.co.za/news/b...

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9yr ago

Daybear

I'm looking forward to playing with this. I just noticed the tld is ZA, so even more stoked for you guys. Whats the timeline to hit the US? I noticed you guys partnered with Standard Bank, any early discussions with a US bank? Gee hom gas!

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9yr ago

Root

Maker

@mitchellgeere We don't have a timeline for the US yet, but we'll keep everyone informed as we go :)

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9yr ago

Daybear

Thinking about it now, you could probably get more out of this if you don't strictly require coding skills. You just need a process flow builder, you can have precoded components that I could just drag in to create a particular logic for each account, card etc. without knowing code. So say a family or small business could sign-up and actually take advantage of the rules system. Employee spend limit to $X (RX*12 ;D) and only at certain retailers, same for child or husband etc. Love this for that.

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9yr ago