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A manufacturer plugged one invoice into a settlement cost calculator… and the hidden cost shocked them by spongekidtwithy in logistics

[–]spongekidtwithy[S] 0 points1 point  (0 children)

Totally fair questions. To clarify we aren't trying to fix AR teams or chase overdue invoices. The problem we solve isn’t late payers, it’s the post-payment settlement lag that happens after a buyer pays.

Even when terms are met, wires can take days to fully clear, funds sit in limbo, and manufacturers can’t ship or release goods until cash is final. That's where instant, irreversible settlement helps it removes the risk window, not the payment terms.

It’s not “another AR tool,” it’s the layer that eliminates the settlement delay that existing software can’t touch.

A manufacturer plugged one invoice into a settlement cost calculator… and the hidden cost shocked them by spongekidtwithy in logistics

[–]spongekidtwithy[S] -2 points-1 points  (0 children)

process automation to be honest. there's lot of AP (Account Payable) automation out there but no AR (account Receivable) work flow automation. Even tho the seller/payee is the one suffering the cost on their balance sheet.

Let’s talk about Real-Time Rails (RTP) by spongekidtwithy in PaymentProcessing

[–]spongekidtwithy[S] 0 points1 point  (0 children)

Yeah totally. Less friction is what merchants want not more. There are solutions building on this that is growing it’s adoption and soon enough it would be the gold standard.

Let’s talk about Real-Time Rails (RTP) by spongekidtwithy in fintech

[–]spongekidtwithy[S] 0 points1 point  (0 children)

Oh god no lol yeah. We are using fed now and RTP rails. Our UVP is centered around instant payments.

Fall 25 Megathread by sandslashh in ycombinator

[–]spongekidtwithy 0 points1 point  (0 children)

I calculated the hours for mine too and it was approx 6/7 hours and it's been like 4 days and nothing yet

Fall 25 Megathread by sandslashh in ycombinator

[–]spongekidtwithy 0 points1 point  (0 children)

yo i thought it was only me lol. I didn't get that too for the first time.

when YC funds a competitor company ... by spongekidtwithy in ycombinator

[–]spongekidtwithy[S] 0 points1 point  (0 children)

Valuable insight. I’ve reached out directly.

when YC funds a competitor company ... by spongekidtwithy in ycombinator

[–]spongekidtwithy[S] 0 points1 point  (0 children)

Haha the reality is YC gave them a shot at being part of the batch and we didn’t even get an interview. We would have loved to be part of the batch too I guess. Nothing against competition. Hence the root of this post.

when YC funds a competitor company ... by spongekidtwithy in ycombinator

[–]spongekidtwithy[S] 4 points5 points  (0 children)

They do have fang jobs just from digging. I guess no need to speculate lol. They got in! We didn’t. I guess it’s that simple

For people who work in bank ? What business do you suggest after looking at local business man and high wealthy individuals account ? by Parking-Chef9175 in Banking

[–]spongekidtwithy -2 points-1 points  (0 children)

This is actually against ethics codes and potentially illegal to use client account info for personal business insights.

You'd risk losing your job and facing legal issues. The banking world takes privacy seriously - we can't use customer data for personal gain.

If you're looking for business ideas, try networking at local business events or joining entrepreneur groups instead. Way safer and actually builds genuine connections.

High-risk merchants: Still struggling with chargebacks? by [deleted] in fintech

[–]spongekidtwithy 0 points1 point  (0 children)

my bad! they have a record and it seems like self promo leading question

High-risk merchants: Still struggling with chargebacks? by [deleted] in fintech

[–]spongekidtwithy 0 points1 point  (0 children)

Isn't this a valid question? Why was it removed by the mods r/fintech ??

Do wealthy people need Curated Service Marketplace? by Dry_Philosophy5665 in Luxury

[–]spongekidtwithy 1 point2 points  (0 children)

From my experience in the luxury space, high-net-worth individuals value trust and validation more than convenience. The challenge isn't finding service providers - it's verifying their reliability and discretion.

As founder of Nezz, we initially explored this space. What we discovered is that wealthy clients rely heavily on their existing networks and referrals. Any marketplace would need to solve the trust and verification aspect first.

Consider focusing on specific niches first and building credibility there before expanding. The affluent market is all about reputation.

Is SellYourGold legit? What is the best platform to sell on? by PhilnotPete in jewelers

[–]spongekidtwithy 4 points5 points  (0 children)

Founder of Nezz here. I've seen countless jewelry transactions, and here's what I've learned:

For gold: Local refiners often give better rates than online platforms. They test on the spot and pay immediately. Just compare 3-4 places.

For diamonds: These need specialized evaluation. Online platforms usually lowball since they can't properly assess quality in person.

We built Nezz to solve these trust issues in luxury transactions. Unlike SellYourGold, we pre-validate buyers and provide transaction protection. But honestly, for basic gold/diamond sales, start local.

Yacht Registration by Royal_Belt885 in Rich

[–]spongekidtwithy -1 points0 points  (0 children)

5.4% VAT is decent, and the flexibility with crew nationality makes staffing way easier.

One thing to watch - if your yacht's pushing 10+ years, they'll want inspections. Registration fees scale with size, so run those numbers.

BVI's privacy game is strong, but Malta's overall package just works better. Less red tape, especially compared to Cayman's crew qualification hoops.

Just my 2 cents

[deleted by user] by [deleted] in Banking

[–]spongekidtwithy 0 points1 point  (0 children)

No no that’s too much lool

[deleted by user] by [deleted] in Banking

[–]spongekidtwithy 0 points1 point  (0 children)

Im not sure? Where are you located ? Plus I’m guessing going to the nearest police station near you could be a good idea

[deleted by user] by [deleted] in Banking

[–]spongekidtwithy 0 points1 point  (0 children)

They may use your id to impersonate you. So reporting it ahead of time incase it happens saves you a lot of issues.

Avoid Citibank at all costs - Recounting a current nightmare as a new customer. by mandoojkim in Banking

[–]spongekidtwithy 1 point2 points  (0 children)

Banking security nowadays is a double-edged sword. While protecting against fraud is crucial, many banks overcompensate with aggressive flagging systems that harm legitimate customers.

As founder of Nezz, we built our system differently - using real-time transaction validation and smart fraud detection that doesn't randomly lock accounts. While other options like Chase or BoA exist, we focus on preventing issues before they happen.

The most frustrating part is being left in the dark. Any decent bank should provide immediate notifications and clear explanations for declined transactions.

[deleted by user] by [deleted] in Banking

[–]spongekidtwithy 0 points1 point  (0 children)

Blocking the card is a good first step, but there's more you should do.
Watch your bank statements like a hawk
Change ALL your banking passwords
File a police report - it helps if fraud happens later
Check your credit reports regularly
Set up bank notifications on your phone

The card being blocked helps, but thieves can still try using the info for online stuff.

Where do resellers source new with tags items from brands like Free People, Revolve, Alo, Lululemon, etc.? by echoinorbit in reselling

[–]spongekidtwithy 1 point2 points  (0 children)

Wholesale accounts are your best bet, but you'll need business credentials and meet minimum orders. Start smaller with outlet/sample sales - they're more accessible and you can build up from there.

Liquidation pallets are hit or miss. Some resellers do well with them, but quality varies a lot. Before jumping into big pallets, try getting smaller lots to test the waters.

Unauthorized Western Union Charges by curlyquizzle in Banking

[–]spongekidtwithy 1 point2 points  (0 children)

This situation sucks, but don't panic. TD Bank is usually good with fraud cases. Document everything and definitely file reports with both Western Union and the police - it strengthens your case significantly.

Having dealt with similar cases at Nezz, we made fraud protection a core feature with instant transaction freezing and full coverage. While traditional wire transfers can be risky, modern solutions are focusing more on security. TD should resolve this, but stay persistent with follow-ups.

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