An open platform that allows customers to program their own bank account

Rot is a programmable bank account that offers flexibility and personalized solutions by allowing the free development of banking interfaces and credit card regulations.

There are many financial management tools and applications, but few give full control over parameters, expense ceilings and displays. Few are directly related to customer bank accounts. A new program based in Cape Town, called Root, has the potential to do all this and, at the same time, lead innovation in private banks.

Root offers customers who can code the freedom to design their own screens, rules, and transactions. Even the accompanying credit card is programmable. For example, card spending limits or alerts can be defined directly by individuals according to their own needs and wishes. This new initiative was developed through collaboration between South African companies, OfferZen and Standard Bank. The project is supervised by the innovative application Louw Hopley. They hope that by creating an open platform they will encourage innovations that eventually go beyond the coding community and be available to all.

Fintech innovations are increasingly numerous. Root is designed to make the world of finance even more accessible. What will the online bank accounts look like in five years? And what other areas of financial management can fintech innovations make available for private use?

Web site: https://root.co.za
Contact: [email protected]