May 12, 2017: Dispatch from the Future

Kerri Moriarty and I have been in lots of meetings with various interested outsiders talking about Cinch. Though backgrounds are different, these people share one thing in common:  a real interest in what we’re creating at Cinch.  Each meeting is different, and the people in them take us in different directions given their professions, but one theme is constant irrespective of who is in the meeting:  the way we’re managing our financial lives will change dramatically in the next few years.  There is simply no way that technology will not transform the way we handle our financial lives in a fundamental way.

Most people hear that and immediately think of new kinds of mobile banks, or something like insurance you buy on your phone.  Or maybe Alexa-like alerts about late payments or transactions.  But these are just mildly different approaches to the same thing – or the same way – you’re doing things for your financial life.  You’re still shopping for insurance, but instead it might be from a “digital” company.  Or getting shamed by a dumb budgeting app that has no idea of who you are, but instead of an email, the shaming is delivered via a robotic voice (ugh, but yes a company is trying that).  Just new ways of doing the same old crap.  OK, maybe a bit different in a trying-to-be-cool-to-millennials way but hardly transformative or even helpful.  Good Lord, we really don’t need more banks, or insurance companies, or least of all budgeting apps real people don’t use.  No!

So when I say that everything will change, it isn’t a different, “cool” bank, or account, or card, or app.  It isn’t “more.”  In fact, it’s actually less.  Cleaner.  Simpler.  Done for you, not to you.

Here’s what I mean:

Something most people absolutely hate – dealing with your financial life – being expertly managed for you, always optimizing your situation, always ensuring you have the best possible set up, looking out for you in every way – and ONLY for you.  Actually not just managed – done, as in done for you.  The key pillars of your everyday financial life constantly assessed without your needing to do it, or even check in.  Not “tools” or “engagement apps” that are thinly veiled ways of cramming a credit card or some bad insurance policy down your throat.  No.  Zero ads, zero clickbait, or “trusted partners” whatever the hell that is — nothing but your own needs and financial health as the objective.  Operating as your personal, very own (and sorry here comes our “f-word”) – fiduciary.

Imagine what that would be like.

At Cinch we’re not imagining it.  We’re building it.  So you can get back to your real life again.

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