Suddenly, a common, simple, and frankly boring product is all the rage in Silicon Valley: bank accounts.
In recent months, a slew of startups have been launching products bringing them closer to becoming banks themselves. In January, Social Finance Inc. debuted SoFi Money, a hybrid between a checking and savings account. Then in April, micro-investing platform Stash announced a service that will allow users to open bank accounts with no overdraft fees. Up next might be Wealthfront Inc., which is doing research to see if it wants to get in on the game as well.