Disaggregation of a Bank ! 1

! 2 USV Inspiration

! 3 USV Diagram of a Bank Bank Personal Banking Checking accounts Debit cards ATMs Savings accounts ForEX CDs Lending/Credit Loans Mortgages/Home equity loans Student loans Payday Other Credit cards Investing/Wealth Management Financial planning/advice Investment instruments: annuities, bonds, IRAs, mutual funds, securities backed lending, etc. Other Brick and mortar Online/mobile/tablet banking Business Banking Checking accounts Cash management Payroll Merchant services ForEX Lending/Credit Credit cards Line of credit Letters of credit Loans Installment Commercial mortgages Working capital loans High Net Worth Wealth Management Managed portfolios Private equity markets Secondary transactions POS ACH/Wire transfers APIs/Data

Bitcoin? Online Bank Bank ! 4 USV Personal Banking Checking accounts Debit cards ATMs Savings accounts ForEX CDs Lending/Credit Loans Mortgages/Home equity loans Student loans Payday Other Credit cards Investing/Wealth Management Financial planning/advice Investment instruments: annuities, bonds, IRAs, mutual funds, securities backed lending, etc. Other Brick and mortar Online/mobile/tablet banking Business Banking Checking accounts Cash management Payroll Merchant services ForEX Lending/Credit Credit cards Line of credit Letters of credit Loans Installment Commercial mortgages Working capital loans Recent Startup Activity High Net Worth Wealth Management Managed portfolios Private equity markets Secondary transactions POS ACH/Wire transfers APIs/Data Equity Crowdfunding P2P Lending