RE: Lucypher12 Apr 2023 03:28
welcome to Tally.
Flawed concept and failed execution.
Holding few hundred pounds worth of gold cant and will never help anyone.
It was cash injection by the govt which got People through the winter and horrendously inflated heating bills. No amount of gold can ever affect inflation for masses.
Dont expect massive uptick in customer numbers for Tally.
Customer holdings will never be disclosed.
For a current account it’s has zero benefit compared to established old or neo-banks
For a savings account it will never work anyway.
Unless there are features which a targeted group could utilise and pay for (money transfer or insurance), Tally growth will be as slow as my neighbours gut motility and it’s public known that she has always been constipated.
Competitive Insurance product direct or as a broker could bring in many new customers - specially if Tally account is offered “free” as part of insurance.
Gold backed insurance as fixed insurance premium could be claimed (although even that wont work)
This is the mess people get into when they start running after weird gold or any madey uppey cuckoo concepts.
So not enough customers to make it a listed company or afford listing.
O hang on, still need qualified and trained people to apply or issue for any insurance or financial products which I dont think exists in Tally.
One to watch is the housing sector grounding to halt, wont be a collapse as such but GDP will take a big hit.
Expensive rents, can Tally shield against rental inflation? No lol
If it’s just beer, pizza or grocery money then why not target the right consumer and offer a proper product- tie up with a food delivery business etc.
Catch all Tally lol