_how-chime-became-america39s-biggest-digital-bank.jpg "How Chime Became America's Biggest Digital Bank from john lundgren retired ceo from stanley Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 5:16
👁 View: 19.6M times
✓ Published: 07-May-2024
👁 View: 19.6M times
✓ Published: 07-May-2024
Description:
For decades, it’s been a riddle in banking: how do you build a sustainable and profitable business serving low and middle-income consumers? Sixteen years ago, Chris Britt, then chief product officer at Green Dot, believed he’d discovered the answer—direct deposit of paychecks. <br/><br/>Green Dot was selling prepaid debit cards to cash-strapped Americans without traditional bank accounts, and Britt saw that customers who had their paychecks automatically deposited into their Green Dot accounts used the card to pay virtually all their expenses. With each debit card swipe, Green Dot pocketed part of the interchange fees–the 1% to 2% charge merchants pay to accept debit and credit cards.<br/><br/>“The people on direct deposit were clearly the whales of the business,” says Britt, 51, the cofounder and CEO of Chime, the nation’s largest digital-only bank with $1.5 billion in annualized revenue and seven million customers using its cards for $8 billion a month in transactions.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/jeffkauflin/2024/05/03/exclusive-the-inside-story-of-chime-americas-biggest-digital-bank/?sh=4f40891cfb0d<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
For decades, it’s been a riddle in banking: how do you build a sustainable and profitable business serving low and middle-income consumers? Sixteen years ago, Chris Britt, then chief product officer at Green Dot, believed he’d discovered the answer—direct deposit of paychecks. <br/><br/>Green Dot was selling prepaid debit cards to cash-strapped Americans without traditional bank accounts, and Britt saw that customers who had their paychecks automatically deposited into their Green Dot accounts used the card to pay virtually all their expenses. With each debit card swipe, Green Dot pocketed part of the interchange fees–the 1% to 2% charge merchants pay to accept debit and credit cards.<br/><br/>“The people on direct deposit were clearly the whales of the business,” says Britt, 51, the cofounder and CEO of Chime, the nation’s largest digital-only bank with $1.5 billion in annualized revenue and seven million customers using its cards for $8 billion a month in transactions.<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/jeffkauflin/2024/05/03/exclusive-the-inside-story-of-chime-americas-biggest-digital-bank/?sh=4f40891cfb0d<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_meet-the-founder-who-uses-ai-to-help-retail-brands-39elevate39-what-they-do.webp "Founder and CEO of FindMine Michelle Bacharach joins \")
_applebee39s-dine-brands-aims-to-lure-fast-food-customers-with-affordable-deals.webp "Applebee's and IHOP owner Dine Brands thinks deals can attract fast food customers frustrated by high menu prices. Full-service restaurants, fast food chains, and home cooking compete for fewer dining dollars as consumers pull back spending. Dine Brands CEO says their $10 burger is better quality than a $10 burger from a paper bag. Lower-income customers under $50,000 make up to 50% of Dine's business but are visiting less and spending carefully. Dine reiterated full-year guidance as first-quarter earnings missed estimates.")
_couple39s-stunning-suburban-garden-in-industrial-heartland-springs-into-life.webp "Stunning pictures show a couple’s spectacular ‘four seasons’ garden bursting with spring colours – hidden in the industrial heartland of the Black Country.<br/><br/>Tony Newton, 74, and wife Marie, 76, have devoted 42 years and more than £15,000 <br/>transforming their ordinary suburban garden into an idyllic oasis.<br/><br/>Their garden in Walsall, West Mids., features more than 3,000 plants and flowers, including 450 azalea, 120 Japanese maples, 15 juniper blue stars.<br/><br/>Locals have nicknamed the stunning garden ‘four seasons’ after the couple deliberately planted different flowers to bloom all year round.<br/><br/>The green-fingered couple spend up to eight hours every day maintaining the quarter-of-an-acre plot which attracts visitors from around the world.<br/><br/>Marie said: “Over the years we’ve had a lot of interest. Someone flew in from New York. <br/><br/>“We’ve had a lot of Chinese tourists. We’ve been all over the world. <br/><br/>“We had a couple of Chinese girls come down from Sheffield on a landscape course. Back in China they’d heard even about us. <br/><br/>“We used to open the garden once a year to the public but we now share it with just family and friends.”<br/><br/>Marie started gardening as a hobby after she retired from her job as a transport planner in 1982.<br/><br/>When Tony retired as a GP a couple of years later, the couple dedicated their time to cultivating their garden paradise.<br/><br/>Marie recalled: “I used to work on the grass and the borders a little here and there.<br/><br/>“I had to stay in ear shot of the landline and we had four children in five years so we were very busy. <br/><br/>“The garden became a feature to keep them entertained. <br/><br/>“We started in 1992 to develop it. We made the garden safe for the kids and attracted the children. <br/><br/>“After ten years they got more sophisticated. Between 1992 and 1995 we landscaped all of it. We did it all ourselves, without any outside help. <br/><br/>“Tony laid the paths and I was quite happy to wield a pickaxe. <br/><br/>“It’s gradually evolved over the years. In 2000 we built a stream and two years later built a second stream.<br/><br/>“We used to use head torches in the dark evenings and do the work in the garden.<br/><br/>“It’s the Black Country and as we always say it’s where the black country turns green. We have no houses behind us. <br/><br/>“We’ve got a variety of evergreens. We created the garden with lots of views, anchor plants. Spring and autumn are the two most vivid. <br/><br/>“They all turn lovely colours. The main trees we’ve got are maples and acers. <br/><br/>“They’re just brilliant colours. In the winter it’s lots and lots of bulbs. We’ve got colour all year round. <br/><br/>“A lot of neighbours ask advice sometimes, we all have larger gardens. We’ve had no formal training. It’s just been trial and error, a lot of error. <br/><br/>“We know what we need now. You have to look at the plants to see which is being the most dominant. Sometimes you have to meditate. <br/><br/>“We’ve been here for 42 years now and we’ve mastered our garden.")
_aqua-metals-has-created-a-novel-approach-to-recycling-li-ion-batteries-that-is-safer-and-greener.webp "Steve Cotton, President & CEO of Aqua Metals, was recently a guest on Benzinga's All-Access.<br/><br/>Aqua Metals is reinventing metals recycling with its patented hydrometallurgical AquaRefining™ technology. Unlike smelting, AquaRefining is a room-temperature, water-based process that emits less pollution. The modular Aqualyzers™ cleanly generate ultra-pure metal one atom at a time – closing the sustainability loop for the growing energy storage economy.")
⏲ 8:41 👁 380K
_the-michelin-group-expanding-production-in-china.webp "<br/>CGTN Europe interviewed Florent Menegaux, CEO of Michelin.")
_1mdb-trail-no-agreement-with-govt-to-drop-us361-18bil-suit-shahrol-tells-court.webp "Datuk Shahrol Azral Ibrahim Halmi told the High Court in Kuala Lumpur on Monday (May 6) that he did not make an agreement with the government to drop 1MDB's US$1.18 bil lawsuit against him.<br/><br/>The former 1Malaysia Development Bhd (1MDB) CEO, who is testifying as a third-party witness in a lawsuit by 1MDB's subsidiary SRC International against Datuk Seri Najib Razak and former CEO Nik Faisal Ariff Kamil, said he did not know why the company had struck him off from the list of defendants.<br/><br/>Read more at https://tinyurl.com/b3crrfuj<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline")
_girl-was-betrayed-by-her-boyfriend-but-she-got-together-with-the-ceo-to-seek-revenge-together.webp "Girl was betrayed by her boyfriend but she got together with the CEO to seek revenge together")
⏲ 21:47 👁 3.3M
_after-a-one-night-stand-with-ceogirl-unexpectedly-pregnanted-and-abandoned-scumbag-to-take-revenge.webp "After a onenight stand with CEOgirl unexpectedly pregnanted and abandoned scumbag to take revenge")
⏲ 20:41 👁 2.6M
Related Video Searches
Back to Search
Search Videos
Recent Searches
×
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
_meet-the-founder-who-uses-ai-to-help-retail-brands-39elevate39-what-they-do.jpg)
_applebee39s-dine-brands-aims-to-lure-fast-food-customers-with-affordable-deals.jpg)
_couple39s-stunning-suburban-garden-in-industrial-heartland-springs-into-life.jpg)
_aqua-metals-has-created-a-novel-approach-to-recycling-li-ion-batteries-that-is-safer-and-greener.jpg)
_the-michelin-group-expanding-production-in-china.jpg)
_1mdb-trail-no-agreement-with-govt-to-drop-us361-18bil-suit-shahrol-tells-court.jpg)
_girl-was-betrayed-by-her-boyfriend-but-she-got-together-with-the-ceo-to-seek-revenge-together.jpg)
_after-a-one-night-stand-with-ceogirl-unexpectedly-pregnanted-and-abandoned-scumbag-to-take-revenge.jpg)
❮❯
1 / 10
2 / 10
Play Video: (Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
3 / 10
4 / 10
5 / 10
6 / 10
7 / 10
8 / 10
9 / 10
10 / 10
View Full Screen: applebee39s dine brands aims to lure fast food customers with affordable deals.jpg
![[+]](/images/menu.gif){kind=small}