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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/04\/slash-aims-to-corner-the-gen-z-market-with-business-focused-banking-features\/<\/a><\/br> Around two years ago, Victor Cardenas and Kevin Bai \u2014 college dropouts from Stanford University and the University of Waterloo, respectively \u2014 built a fintech platform called Slash<\/a> that lets users create shareable virtual cards to split recurring expenses. Slash quickly became popular with teenagers because its virtual cards were debit-based, available to people 13 or older and didn\u2019t limit spending based on credit history.<\/p>\n In the subsequent months, Cardenas and Bai say that they saw an opportunity to got after a larger market: young, commerce-focused entrepreneurs.<\/p>\n \u201cThe goal is for Slash\u2019s suite of products to be so robust that it gives people who otherwise wouldn\u2019t have taken the leap toward self-employment the confidence to work for themselves,\u201d Cardenas told TechCrunch in an email interview. \u201cSlash\u2019s goal is to capitalize on people\u2019s growing tendency to make a living on the internet and give as many people as possible the confidence to start their own business.\u201d<\/p>\n Today, Slash \u2014 which is FDIC-insured via Piermont Bank, its partner bank \u2014 offers something of a hybrid business\/personal banking product that allows users to silo their personal and business funds but manage them from a single dashboard. Customers get two Mastercard-branded debit cards and see two transaction feeds, with controls for whitelisting \u2014 or blacklisting \u2014 merchants for purchases.<\/p>\n Slash bundles nonbanking software with its core product, providing daily advances for merchants selling on platforms like Alias and Amazon, a virtual card product with fine-grain spend limits and a feature that automatically generates profit and loss statements<\/a> from transaction data. As before, any user over the age of 13 can sign up with Slash \u2014 credit checks aren\u2019t required.<\/p>\n Those under 18 must have a legal guardian participate in the Slash account setup process, however. Guardians have a specialized view of the user\u2019s account with full control and can track and make changes at any point, Cardenas says.<\/p>\n \u201cSlash isn\u2019t built for enterprise \u2014 it\u2019s built for self-employed Gen Z entrepreneurs,\u201d Cardenas said. \u201cEventually, Slash would like to help young entrepreneurs file their taxes, issue invoices and incorporate new businesses all in one place.\u201d<\/p>\n Slash is a part of a crop of intriguing neobanks targeting the Gen Z market, particularly Gen Zers with side hustles like drop-shipping and livestreaming. Juni<\/a>, which launched several years ago, offers capabilities designed to appeal to young e-commerce businesses. Meanwhile, Zelf launched a banking integration with Discord to make it easier to trade virtual assets, like collectibles, through real-money transactions.<\/p>\n
\nSlash aims to corner the Gen Z market with business-focused banking features<\/br>
\n2023-05-04 21:56:57<\/br><\/p>\n