Food for thought with Shamir Karkal, co-founder of Simple
As part of Osper’s ‘TLT’ (Thursday Lunchtime Talks) series we welcomed Shamir Karkal, co-founder of one of our biggest inspirations — Simple, a US company redefining banking for hundreds of thousands with a focus on spectacular customer service. Shamir joined forces with Josh Reich in July 2009 to build a bank ‘that didn’t suck’. They’ve now made waves across the USA with a service that, amongst other things, never makes money from customer’s mistakes (meaning no overdraft fees or hidden charges).
Our product team have been ogling Simple’s UI and design ethos for ever, so it was the perfect opportunity to bend Shamir’s ear about the challenges of starting a Fintech company in the highly competitive and regulated US market and preserving the needs of the user while battling regulation, compliance and occasionally unreliable partners.
Needless to say, Simple currently have a very very long waiting list of people waiting to join.
Take away thoughts
People don’t want to talk about banking, they want to talk about their lives and goals.
People have lost trust in banks, it’s so important to create a brand that people can trust. Invest in your customers, spend time talking and listening to them. They will help you build a service you can be proud of.