Bank updates

Building the first AI-native private bank.

I am using this page as a running archive for update emails, hypotheses, and public Notion docs. It is mostly for people I add to the update list later, so they can see the trail instead of only the latest email.

Status

Exploring potential wedges

Into the mass affluent banking market

Market

Mass affluent US banking

46.9M households, $25T in investable assets

Current focus

Finding the wedge

What would actually make customers switch?

Current working hypotheses

Things I am trying to prove, kill, or rewrite.

I want this to feel like a live research board. Hypotheses should get crossed out, upgraded, or rewritten as data comes in.

Notion pages

Working docs.

I will add public Notion pages here when they are useful to share: thesis, personas, interview notes, market maps, and open questions. Some will stay messy.

Core thesis

AI-Native Bank 2026 WIP

The messy working doc: hypotheses, notes, research direction, and open questions.

ResearchComing soon

Personas

Placeholder for the public personas doc once it is ready.

Update archive

Previous emails.

Short summaries are visible by default. Click into an update to read the full email.

Building the first AI-native private bank.

Things I am trying to prove, kill, or rewrite.

The wedge may be economic, not product-led

The mass affluent are underserved, but not desperate

The bank charter may be the real leverage point

Revenue quality matters more than positioning

A bank whose revenue scales with customer wealth is the mission

Working docs.

Previous emails.

Dan's March 2026 Update - I'm Starting a Bank

Things I am trying to prove, kill, or rewrite.

01Testing->No verdict yetThe wedge may be economic, not product-ledThe product idea is less interesting than the switch trigger. I need to test offers, not app concepts.

The wedge may be economic, not product-led

02Open->No verdict yetThe mass affluent are underserved, but not desperateThe market size is real. The pain intensity is still unproven.

The mass affluent are underserved, but not desperate

03Open->No verdict yetThe bank charter may be the real leverage pointI need the business model before I let myself get excited about the interface.

The bank charter may be the real leverage point

04Investigating->No verdict yetRevenue quality matters more than positioningThe wedge has to map to a high-quality revenue stream, not just a clean story.

Revenue quality matters more than positioning

05DisprovedxDisproved for nowA bank whose revenue scales with customer wealth is the missionGood mission, bad starting point. I am parking it until the wedge is clearer.

A bank whose revenue scales with customer wealth is the mission

Working docs.

Previous emails.

Dan's March 2026 Update - I'm Starting a Bank