Kim-Mai Cutler at Techcrunch writes

Standard Treasury, a YC-backed company, is hoping to make it easier for businesses to deal with their banks through standard APIs that ease transfers and other transactions.

The company says that integrating banking services for small businesses and startups is overly complicated. They can end up sending large files over FTP with specs that take up hundreds of pages.

Co-founder Daniel Kimerling had this experience when he was building up his last company, Giftly, which let people send gifts on the web and mobile devices to each other without affecting the point-of-sale systems at local merchants. They had to build up their own infrastructure to interface with the banking system to manage peer-to-peer payments.

“The existing model for bank-enterprise relationships hasn’t changed since the 1970s,” Kimerling said. “Banking is really painful. We have customers that ask — why can’t banking be like Stripe or Braintree?”

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