Thanks for all the comments. Like all entrepreneurs, I believe that the team will overcome any obstacles that get thrown in it's way. Also, I obviously do not come from the finance/banking world which is why I would fill those weak areas with a strong management team.
While doing further research, there are banks out there already applying similar models. My post was a "blue sky" piece. It was never meant to cover every logistical detail. It was an article on how I would start a bank if I had to start one from scratch. I agree that it's an insanely difficult to tackle but what isn't?
A similar bank Kasasa just won Best of Show at the 2009 Finovate Conference. Last year, it was Mint.com. Check it out -- https://www.kasasa.com/explore
While doing further research, there are banks out there already applying similar models. My post was a "blue sky" piece. It was never meant to cover every logistical detail. It was an article on how I would start a bank if I had to start one from scratch. I agree that it's an insanely difficult to tackle but what isn't?
A similar bank Kasasa just won Best of Show at the 2009 Finovate Conference. Last year, it was Mint.com. Check it out -- https://www.kasasa.com/explore