Wow, bold indeed.
If you don't mind I stick to my own bank for the moment, but loads of success,
Tommy

So if you don't share data with advertisers what would your revenue model be?

For this project, I want to team up with Geezeo (htttp://geezeo.com) which is a broad-range financial aggregator for the web. I like Geezeo because they use an aggregation tool called "CashEdge" (http://cashedge.com/) which is trusted among the banking community.

From CashEdge's website:
"Recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States, CashEdge® provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge solutions include end-to-end online account opening and funding, funds transfer, and data consolidation. Flexible, scalable and supported by extensive risk management capabilities, these proven solutions empower financial institutions to create compelling online offerings that attract customers, generate revenues and reduce costs.

CashEdge currently serves more than 600 leading financial institutions including Bank of America, Citibank, HSBC, Wachovia, and Royal Bank of Canada.

The company was founded by Sanjeev Dheer in 1999 and is funded by leading venture firms in the U.S. Today CashEdge employs more than 300 employees worldwide and has offices located in New York City, Silicon Valley, Chennai and Gurgaon."

@Tommy (vanhees)

I empathize with your concerns about data security, and assure you that an application built by bankers for bankers and their customers will make that its top priority. In my professional career, I work for a bank and they already have a non-transactional system to aggregate and view your account information called Virtual Private Bank (http://virtualprivatebank.com/).

This is VPB's stance on security (a warning box may come up, but I assure you that it is safe to click).

https://virtualpriva...PB_Security_web.html

In addition, they are a partner with CashEdge.

@LarsBell

Think of it as online banking for the next generation. The product is targeted as a financial necessity for Bankers, and would be sold to them directly. It would be up to the individual financial institution to charge for use under their brand, similar to online banking ten years ago.

The product will have healthy balance of banking regulation and peer to peer lending tools, which I feel offers a strong "value added" to the financial institutions utilizing it.

If you have any more feedback, please let me know.

David

Could you explain what the user experience would be like... for someone on FaceBook attempting to do online banking? Or borrowing? They sign into FaceBook to do this because you want to leverage their existing network is all? What other value could (specifically) FaceBook offer here?

(yes normally I am keen on leveraging and integration, but this does not seem like a natural fit)

I don't understand why this would work or how it would work.

After reading your business idea I went and signed up for mint.com
I'm impressed by it. It is professional, well organized and well implemented. And I can see myself using it.

How are you going to improve on it?

I like the idea, but I fear it will be extremely hard to implement. The first huge roadblock you would have is pitching it to facebook, if they like it (depending on whats in it for them of course) then great. If not then the idea's basis of existence is void. I usually don't say this with ideas but I would try to expand out a little more. It would make finding a vehicle to use it with alot easier than saying "just facebook". It would also make marketing a little more appealing if it had a plethera of uses for various companies of various type.

Truly, can you simply your idea?

blinkin! n not a fan of online banking :)

I find it vague too

Needs slightly more development and a more elaborate description. Sounds intriguing. I wouldn't trust it initially, but after careful observation of several months in operation, depending on members' feedback, I'd give it a try.

Have you ever looked at the Security Laws involved in lending? They are huge... I dont think you will be able to get past them and still compeat with the big banks.