. And while the nature of each of the companies Green Dot works with varies widely, all of them fit the bank holding company's high-level strategy of focusing on serving businesses that have sizable customer bases , as opposed to smaller startups looking to offer banking services.
Welcome Technologies fits this bill, with approximately 2 million active members on its SABEResPODER platform. Providing the backbone for the banking functions offered by such huge companies puts Green Dot in a strong position of stability during the coronavirus pandemic and likely provides a revenue stream that can withstand an economic downturn due to the multiyear nature of Green Dot's partnerships.
What remains to be seen is how successful the new account created in partnership with Welcome Technologies will be, as it faces some serious competition. Only 44% of immigrant respondents to a Welcome Technologies survey said they use credit cards, and just over half say they use savings accounts, suggesting there is ample opportunity in offering banking services to this population.
The more players that aim to serve the immigrant demographic, the harder it will be for any one provider to take significant market share, and only the providers that can differentiate themselves — for example through an exemplary digital banking experience or perks like a high APY on savings — will survive in the long run.Business Insider Intelligence analyzes the banking industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
YouTube at 15: The inside story of YouTube's history - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. $THETA You left out the part how YouTube helped amplify white supremacists, flat earthers, anti-vaxxers, and other dangerous nutjobs, all for money to the detriment of society. 15 years to build one of the most detestable piles of shit ever unleashed on society
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock picks to buy: 13 small-cap tech companies set to soar, BofA says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. STOCKS ARE ALL GOVERNMENT SPENDING
Source: BusinessInsider - 🏆 729. / 51 Read more »
UK fintechs, banks aim to close compliance, tech skills gap - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. India's toll of coronavirus cases reached 190,535, as 8,392 new cases in 24 hours...
Source: BusinessInsider - 🏆 729. / 51 Read more »
Amex sees slight improvement from billings - Business Insider - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
An IRA CD is a conservative investment account for people nearing retirement - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Buy now, pay later startup Affirm launches high-yield savings account - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »