There’s a commonality in financial services — for brick-and-mortar players and for several FinTechs, though the approach may differ: Serving the needs of lower-income households. The big banks have lost at least some share to neobanks — FinTechs that have been able to carve out...
Digital banking platform Dave said customers are increasingly turning to its ExtraCash offering. Originations for the cash advance program reached $1.2 billion for the company’s most recent quarter, up 37% year over year, according to a Tuesday (Aug. 6) earnings press release. CEO Jason Wilk...
It’s been quite a year so far for FinTechs in general and neobanks in particular. However, Jason Wilk, CEO of digital banking app Dave, doesn’t view the volatility rocking the FinTech sector in the wake of the Synapse bankruptcy as a long-lived seismic shift. “I...
Neobank Dave said it improved its credit performance over the past year with the use of artificial intelligence (AI). Between the first quarter of 2023 and the first quarter of 2024, Dave reduced its 28-day delinquency rate from 2.60% to 1.83%, the company said in a presentation released...
June 05, 2024
It’s been quite a year so far for FinTechs in general and neobanks in particular. However, Jason Wilk, CEO of digital banking app Dave, doesn’t view the volatility rocking the FinTech sector in the wake of the Synapse bankruptcy as a long-lived seismic shift. “I think it’s a one off,” he told Karen Webster, “with […]
November 06, 2024
The name of online banking platform Dave suggests a dependable friend. But after fielding consumer complaints, a regulator says Dave’s cash advance app is not on the level. The Federal Trade Commission (FTC) is taking Delaware-based Dave Inc. to court, according to a Tuesday (Nov. 5) press release, alleging deceptive marketing practices and charging fees […]
August 06, 2024
Digital banking platform Dave said customers are increasingly turning to its ExtraCash offering. Originations for the cash advance program reached $1.2 billion for the company’s most recent quarter, up 37%...
May 07, 2024
Neobank Dave said it improved its credit performance over the past year with the use of artificial intelligence (AI). Between the first quarter of 2023 and the first quarter of 2024,...
March 05, 2024
Digital banking/finance platform Dave says its customers are seeking extra cash. More accurately, they’re seeking ExtraCash, the company’s cash advance program, which saw disbursements jump by double digits since last year, Dave...
