Green Dot Plans to Launch Bank OS in 2020

Green Dot is planning to launch a new affinity banking service called Bank OS, this would be a simpler version of their banking as a service platform; the new offering is aimed at “the app store developer, the social media influencer, the mid-sized retailer or the smallest store owner with three employees who wants to do some sort of payroll card or wants to do some sort of rewards card for their own customer base,” said Green Dot CEO Steve Streit in a February earnings call reported by American Banker; the move is a risky one with past social media influencer project like the Fyre Festival and the Kardashian Kard failing; this is part of a wider trend in banking with banks providing services for fintechs and others in a push towards open banking. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.