How your small money app can compete with the big banks
By SendPay Business · · 2 min read
Every country has a big bank or money provider most people use. You don't beat it by copying it. You beat it by doing a few things for a few people much better than it can.
Pick the people they overlook
Big banks build for everyone, so they rarely build for anyone in particular. A community abroad, a trade, a city or a group of small shops can be yours if you serve them better.
Be faster and simpler
A new app can move in days where a big bank takes months:
- Let people sign up in minutes, without branch visits.
- Show every fee before people pay.
- Fix problems customers report the same week.
Be a real person
Customers of big banks often wait on hold. When the founder answers messages, people notice and tell their friends.
Speak their language
Use the words, languages and examples your people use every day, not banking jargon.
Stay honest about what you are
Don't call your app a bank. Say plainly that accounts and payments are powered by licensed partners, and let your service do the talking.
Build it
Create your own financial platform.
Pick a template, name it, brand it, preview every page before you pay. Your brand, your users, your fees.
Build my platform →Questions people ask
Who would I compete with in my country?
The country guides name the biggest banks and money providers, country by country.
Start your own bank, by country →How do I pick my people?
The niche guide helps you choose one group the big names overlook.
Choose a niche for your app →Can I call it a bank?
In most countries "bank" is a protected word you can only use with a banking licence. Call it an account, a wallet, an app or a platform. The accounts and payments behind a SendPay Business platform are powered by licensed partners.
Is there a step-by-step plan I can follow?
Yes. The free launch checklist takes you from picking your people and naming your app to setting fees, going live and winning your first ten customers.
Digital bank app launch checklist →How do I start?
Pick a template, name it and preview every page before you pay. Your platform can be live on your own domain within 24 hours of confirmation.
Build my platform →Read next
This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. PayPal, Patreon and Substack are named as reference points only and are not affiliated with SendPay Business.