What misconceptions exist about Mercury that cause people to advise against using neobanks like it?

It's reasonable to think about how to make your money safe. The Vault product is our answer to that. And we definitely have a lot of customers that feel good about it. There might be other people that are like, "Okay. Even with FDIC insurance, I'm not happy. I'd much rather be at a really big bank," which is reasonable. Right now, in this very short term time period, there's all this worry about whether there's going to be a systemic bank crash and whether SVB is just the first domino of that.

At the end of the day, there's a reason that people don't really like the big banks, and there's a reason SVB existed—even though maybe I question how great their product was—but their service did really understand startups and VCs, and they delivered a great experience. And there's a reason Mercury exists. Big banks are just not suited to understand the specific space and deliver a great experience.

There's a lot of people in the startup space that are nomadic nowadays. They don't want to go into a bank branch to do things because some percentage of the time, they're not even in the US but they're running a US startup, whether it's from Bali or Mexico, whatever it is. And that's something that a big bank would never understand. They'd be like, "Oh, you want to do a wire? Sorry, we need you to come into the bank branch to get this done," and et cetera. So that's just one little example, but Mercury is built on 1,000 examples like that. It's just very frustrating for people to have that big bank experience, whether it's at signup or sending something or fraud or just using a great website to do things.