Leaders like Chris Britt at Chime, Brett King at Moven and Jill Castilla at Citizens Bank of Edmond are getting inventive as they try to help those hurt economically by the pandemic.
The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.
Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.
The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.
