The Bancorp and Chime Extend Partnership
13 Giugno 2023 - 10:24PM
Business Wire
The Bancorp Bank, N.A., member FDIC, a wholly owned subsidiary
of The Bancorp, Inc. (NASDAQ: TBBK), today announced that it has
entered into a long-term extension of its private label banking
services agreement with Chime Financial, Inc., a leading consumer
fintech. This renewed relationship further strengthens The
Bancorp’s position as the leader in delivering banking sponsorship
services to the U.S. challenger banking sector.
The renewed agreement between the two organizations ensures The
Bancorp will maintain its key role as a banking partner and
continue to hold Chime member deposit accounts. The partnership
will enable Chime to continue to focus on designing innovative,
easy-to-use, FDIC-insured banking services for everyday people.
“We are thrilled to not only renew, but to also expand our
partnership with Chime, as it solidifies our dedication to driving
the future of fintech,” said Ryan Harris, EVP and Head of Fintech
Solutions at The Bancorp. “At The Bancorp, we are committed to
embracing innovation and redefining what is possible in the world
of banking. Our goal is to not only meet but exceed the needs and
expectations of Chime members now and into the future,” he
concluded.
While evolution in technology is constant and impacts how
consumers connect with and use their payment accounts, consumers
should not have to choose between innovation and important consumer
protection. This partnership will enable Chime to continue to offer
fully regulated financial services products that are beloved by
millions of people across the US.
“The Bancorp has been an important partner to Chime since the
beginning,” said Chris Britt, Chime CEO and co-founder. “This
partnership helps enable Chime to continue to innovate and define
the next generation of banking services by providing trusted,
consumer-aligned financial products that help our members achieve
financial peace of mind.”
About The Bancorp
The Bancorp, Inc. (NASDAQ: TBBK), through its subsidiary, The
Bancorp Bank, N.A., provides non-bank financial companies with the
people, processes, and technology to meet their unique banking
needs. With over 20 years of experience, The Bancorp delivers
partner-focused solutions paired with cutting-edge technology for
companies that range from entrepreneurial startups to Fortune 500
companies. Through its Fintech Solutions, Institutional Banking,
Commercial Lending, and Real Estate Bridge Lending businesses, The
Bancorp is the third-largest bank by asset in South Dakota, earning
recognition as the #1 issuer of prepaid cards in the U.S., a
nationwide provider of bridge financing for real estate capital
improvement plans, an SBA National Preferred Lender, a leading
provider of securities-backed lines of credit, and one of the few
bank-owned commercial vehicle leasing groups in the country. With a
company-wide commitment to excellence, The Bancorp is recognized as
the top-ranked publicly traded bank with assets between $5B-$50B by
Bank Director Magazine, a Readers’ Choice Top 50 Employer by Equal
Opportunity Magazine and was selected to be included in the S&P
Small Cap 600. For more about The Bancorp, visit
https://thebancorp.com/.
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version on businesswire.com: https://www.businesswire.com/news/home/20230613971682/en/
Media Relations Rachel Brick Director of Strategic
Communication (302) 385-5410 rbrick@thebancorp.com Kathleen Hayn
AVP, Media Relations Specialist (484) 888-4445
kahayn@thebancorp.com Investor Relations Andres Viroslav,
Director of Investor Relations The Bancorp (215) 861-7990
aviroslav@thebancorp.com
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