We Requested Daves About Dave, Marcus and Different First-Title Cash Apps

Can these customers rest assured that they are getting the help they need? (So ​​far, no start-up has asked him for advice.)

The question is borne out by a fairly recent story.

Robinhood’s trading platform and messaging system melted as the markets fluctuated earlier this year. When it broke certain trades altogether during the GameStop saga, users were angry at the lack of responses.

Dozens of lawsuits resulted, as well as a number of investigations, including the biggest fine that the financial industry regulator ever imposed. During a congressional hearing in February, a legislature did called Robinhood’s automated helpline – and got a recorded message asking him to send an email. (The company has vowed to improve their customer service.)

Perhaps the most fascinating thing about the creation of these start-ups is the completely different way in which they present themselves to the world for the first time. Some have oriented themselves towards digital banking start-ups of yore, such as Allies, and adopted concepts in their branding, with names like aspiration and, more provocatively, Revol.

Then there is Dave and the Boys, a trend that started years ago with Charles Schwab and the digital bank that offers it, as part of low-cost brokerage services. It advised anyone who would listen “Talk to Chuck. “

Goldman Sachs, with all its riches, could have bought almost any URL. It voted Marcusafter Marcus Goldman (bad luck, Samuel Sachs), the quintessential Wall Street bank, tried to give a new retail business a friendly face.

Another app, Albert, has a standard Debit card offer plus a service it calls “Albert genius“Says the company, from a team of human financial experts. (By the way, Dave Davies’ legal first name is Albert.)