How much do we trust machines with our lives? The world is becoming more automated by the minute with self-driving cars and daily tasks being integrated in the internet of things. But what about automating checkbooks?
Tally is the latest app to automate a daily task, in particular credit card payments so you’ll never have to pay late fees.
Jason Brown, cofounder of Tally said that the app operates like self driving car for a person’s credit card. As a serial entrepreneur, he had already founded and sold three companies prior to Tally, one of which is Gen110. Gen110 provides solar panels to homeowners who were saddled with huge energy bills.
Brown wanted to target a market wherein people are being charged too much and make a product that would fully benefit the customer. Thus, he decided to target credit cards.
In an interview with Mashable, the Tally cofounder said as he dug deeper, he came to realize that ‘credit cards are the most profitable bank lending business’. “They’re four times more profitable than any other loan they give.”
