Ask HN: Any non profits looking for one click financial transparency?
I've been considering an idea to make it easier for non-profits and local government to transparently declare their financial records.
I thought you could use Europe's open banking api to automatically connect to a bank account and display transaction history, which would the be easily linkable or embeddable into your site.
I have a couple questions:
Do non-profits want this? Or are the more useful ways to be transparent?
Is this robust enough, it'd be pretty easy to create another bank account to do fraudulent activities. Is there away to make it more robust?
Is there a better way to solve this problem?
I recently set up a non-profit and consulted with lots of people in the field. I found out that most non profits have overheads of 15-30%, which I found to be pretty shocking. I think a majority of the public would too.
In some cases there are real reasons why overheads need to be this big, thats ok. But managing this communication has got to be a pain in the ass, I think most of the product would be around catering for this and not true transparency.