Almost seems like a pr piece for Standard Treasury, http://standardtreasury.com/. White labeled customer (developer) facing api's, I believe. I'm not entirely certain how this scales for ST because even though they will provide a standard forward facing api, ST will have to custom fit that on the backend to each customer. (Possibly more disjointed than the industry I'm involved with, healthcare, because at least in healthcare there are a handful of major EMR vendors that all the major institutions use.) In Big Finance most everything is custom legacy, I would imagine. On top of all this, they have the taint of the startup about them. Large industry is loathe to get in bed with startups simply because they are not proven and can not be relied upon in the long term, further, startups are prone to get acquired. How would you like to be Citibank and have a competitor, say BoA, buy the company whose product you just deployed? See Simple.

Although I do see the need, I don't see the innovation from Big Finance. As with anything else trying to disrupt an entrenched industry, it will take early wins to get the ball rolling. In order for this to work Banks would have to become tech shops with all that entails, this has been discussed on HN previously. It is just not in their nature. Banks don't do board shorts and dogs in the office. Modern techies are loathe to work for banks. Where does the innovation come from?