It’s actually quite simple.
A provider like Plaid, Tink, TrueLayer (you name it) would charge £0.25/mo per connection (if you are good at negotiating).
16 bank logins is £48 a year, which is more expensive than keeping a full bank account open for you at any bank.
I am not even counting 4 updates a day, storage and forced syncs.
This also doesn’t take into account the impact a free user with 16 bank logins has with the rest of the service.
If things are done in layers, like we are doing, we can provide a better service for each tier.
If you also want to look at the Emma prices, our net is 55% of what you see. Unfortunately we have to pay VAT and Apple/Google Tax.
In the case of a £20/yr service, that’s £0.90/mo. This means that even if you put 2 connections in a £20/yr plan, you will make a profit of £0.40 a month - assuming no other features. With 16 bank logins, you are losing £37/yr.