Can these customers count on getting the help they need? (So far, none of the start-ups have called him for advice.)
The question stems from some pretty recent history.
Robinhood’s Trading Platform and Messaging System melted down When the market boomed earlier this year. When it completely cut out some trades during the GameStop saga, users were furious about the lack of answers.
dozens of lawsuits the resulting, as well as a host of investigations, including the biggest penalty that the Financial Industry Regulatory Authority has ever imposed. During a Congressional hearing in February, an MLA Dialed Robinhood’s Automated Help Line – and received a recorded message asking him to send an email. (The company has vowed to improve its customer service.)
Perhaps the most interesting thing about the emergence of these start-ups is the wildly different way they present themselves to the world. Some have taken their cues from old-time digital bank start-ups, such as Friend, and adopted concepts in their branding, with names like Ambition and, more provocatively, Reverse.
Then there’s Dave and the Guys, a trend that became widespread years ago with Charles Schwab and Digital Bank, which was eventually introduced due to its low-cost brokerage services. This gave advice to anyone who would “listen”talk to chuck“
Goldman Sachs, with all its money, could buy almost any URL. it chose Marcus, after Marcus Goldman (Tough Luck, Samuel Sachs), as the bank, the quintessential Wall Street firm, tries to put a friendly face on a new retail banking operation.
Another app, Albert, has a standard Debit-card offer plus a service called “Albert GeniusOperated, the company says by a team of human financial experts. (By the way, Dave Davis’s legal first name is Albert.)