@isaac_vandor@danebs Hey Isaac, while Simple and Koho have some similar features (Transfers, Goals and modern no fee accounts), Koho also offers real-time notifications, in-depth/instant insights, and the ability to pay businesses directly (aka bills like your cell phone) in the app.
@lauren_bates@isaac_vandor@danebs That's not going to be enough to get Simple users to switch. I see a lot of companies doing things similar to Simple but none offer a compelling reason for Simple customers to go through the hassle of switching their bank.
@lauren_bates@isaac_vandor Thanks Lauren. The other thing that's worth noting is that Koho is built for Canadians. You may not know this, but in Canada we basically have 5 banks who control 90% of the market, unlike in the US which has somewhere north of 16,000. Last year these 5 banks made $140B in rev & $40B in profit, while charging Canadians some of the highest bank fees in the world.
@3raxton@danebs I'm with you. I can't use it / test it since there is no American access @lauren_bates ... also are there plans for visa card access as well? similar to simple? THAT would make me switch over immediately. that would be a true competitor to paypal as well.
@3raxton@lukeeischen This is great gents. We're definitely working hard on adding credit. We know it's important. The US is still an open question for us!
Thanks @spencerchen.
Hey PH'rs! Thanks for checking out Koho. We built Koho because we think accessing your money should be smart, simple & free.
What we do:
All the core things: Direct deposit, bill pay, 8,000 ATMs, E-transfers etc (fee-free).
+ Automating savings goals
+ Real time updates and insights into your spending behaviour
+ Live chat & support
+ Automatic categorization
Lauren, our PM, and I (CEO) will be around all day to answer any of your questions.
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