Lance is smart business banking for freelancers. Get state-of-the-art banking for freelancers & independents with automated budgeting tools, smart tax withholding & payment, $0 fees or minimums. Technical briefing by Oona Rokyta and Oren Reuveni.
V-Sum_Thirteen was made possible by Modern Treasury, IowaEDA, and Brale
Overview of Briefing
Oona Rokyta will be presenting this technical briefing. Oona starts the briefing by giving their focus and mission at Lance.
Oona moves into the demonstration. We get to see the onboard interface of Lance, which is a typical KYB/KYC documentation, as well as an estimated yearly income. This allows Lance to recommend where your income should be allocated.
After onboarding, we see the Stacks screen. Oona shows us where total balance is located within Lance and how it is distributed.
We get to see a more in depth look into some of these Stacks and how they are funded.
We then move into a look into the main account. This is a balance for business expenses and a transaction history for all funds located within Lance.
Each transaction is labeled and updated with a tax status.
Next we see Actions, where accounts can be funded by quick deposit, direct deposit, and from a payment application.
Oona shows us how funds can be moved between Stacks.
The last tab shows us the virtual and physical debit card information. This card can be added to an Apple Wallet.
Oona takes us back to the home screen where she highlights a business insights function. This will replace Quickbooks or other accounting systems that are used.
We see how expenses, income, and taxes are tracked monthly.
We see the last tab, the More menu. This is where reports are located and allocations can be edited.
Oona closes out the demo with some final remarks regarding customer feedback and how they focus on the independent workforce.
Lance is looking at launching more Stack options soon.