Stable Money's USP
What exactly is Stable Money's USP? Is FD it? If so why won't someone go to brands that have been in the market and offer the exact same thing, example - smallcase. Am I missing something here?
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You are missing the point, they are bringing all the banks ( their partners ) in one place. We dont pay a cut to stable money as well when redemption, and kyc also is done from bank.
They just are giving us options
Exactly the same thing is offered by smallcase, they don't have a cut either
Stablemoney is only into distribution..plain and simple ....even the tech is built by one / open fintech cannot remember the name exactly....their usp is their gtm ...still they can be good if they play the debt game well ..only offer safe products akin to their name stable ...mf ...debt ..bonds etc
Eventually, they will get into a marketplace model like Paisabazaar for all financial products. FDs, loans, insurance, MF, cards, etc. There will be a leader platform for everything. Groww for MF, PB/Acko for insurance, Stablemoney for FDs, Wint for bonds and something for loans. Hope will be that every customer will be loyal to stick to you that you can cross sell other products to.
But as we see from Quick Commerce and Food delivery, a customer isn't that loyal. They shift between Zepto/Instamart/Blinkit/BBnow. So eventually, the Fintech marketplaces will consolidate with lot of M&A. Some will merge into each other, some will be acquired by banks/NBFCs, some will close down.
I tried to experiment and use most of these platforms in 2021. But now, my main worry is data privacy. When these platforms will run into issues, either their data security will be weak or they will sell your contact and income details to others. Bajaj Finance spam calls will be least of our worries. I worry more abt fraudsters trying to triage us via multiple data sources (Insurance+loan+MF) and scam us with more sophisticated techniques 5-10 years in future.
Imagine a leak from a platform like CRED / Groww / INDmoney where fraud rings get to know your Mutual fund corpus, EPFO, loans, insurance all in one place.
This makes a lot of sense, thank you for sharing your perspective.