MoveNBank Startup Planning Bank 3.0

Online banking expert and innovator Jim Bruene of NetBanker made us aware this week that a new bank startup is getting ready to offer a new way of banking for those of us who are tired of the way banks operate today. The startup is named MoveNBank which is a reference to it's intent to create a banking platform built from the ground up for Mobile and Online Channels.

As former Chief Software Architect and CIO at VirtualBank and having built an online only bank from the ground up back in 2000 during the initial revolution I can tell you it is not easy. One major difference from then is that Mobile Banking was only a ToDo sometime in the future at that point since the technology was not ready yet.

MoveNBank was founded by banking pioneer Brett King author of the book Bank 2.0. When Bank 2.0 was published back in March 2010 I was excited to have an ally in my efforts to move banking into modern times and considered it the bible of the future of banking. At the time, I was floating the idea of a new bank account for mobile and online only. This may help explain my excitement for MoveNBank.

While details are still limited at this point we do know that a private beta is to begin soon with a soft launch around July 2012. It will be exciting to see what the experience will be and how the vision is executed. I must applaud Brett King for not just writing a book about how to make banking better but actually stepping out to the edge and making an effort to move it forward. We all know that big business moves slow until some innovator or revolution comes along and makes it happen.

Bank Simple is another one of those start ups working to improve online and mobile banking experience and they are reportedly beginning to test a small batch of bank cards with their employees after announcing it a year ago. We all have our eyes on that launch as well.

We will keep you posted as we monitor MoveNBank and Bank Simple progress in their efforts to drive the future of banking.