Neobank Dave this week announced it has joined the American Fintech Council, an industry association representing fintech companies and banks. Dave partners with Evolve Bank & Trust, an FDIC member.
“Our members are setting the standard for the responsible use of innovation to increase competition in financial services that improves access for families long forgotten by traditional financial institutions,” said Phil Goldfeder, CEO of the American Fintech Council. “Dave is leading by example and democratizing financial services by creating fair, transparent and equitable services. Their team will add an important voice to our growing chorus of members focused on inclusion and responsible innovation for the future of finance.”
Jason Wilk, CEO and founder of Dave said they are proud to join the Association:
“Fintech was born out of the realization that traditional banking was not keeping pace with the needs of the American consumer. By uniting our efforts with the American Fintech Council’s growing network of innovators, we envision a positive future for accessible financial solutions in fintech.”
As a member of the American Fintech Council, Dave said it plans to be an essential voice in support of regulators’ development of transparent and consistent frameworks for the fintech industry, as digital banking gains momentum. The company looks forward to advancing the dialogue on access to banking and short-term credit, inclusive finance, and regulatory compliance. Since 2016, Dave has provided short-term liquidity to consumers to cover expenses between paychecks. Dave enables a comprehensive and accessible banking experience regardless of a person’s income, on its mission to level the financial playing field.
The American Fintech Council collaborates with policymakers and regulators to develop unified and consistent approaches to regulation. They encourage the development of a modern regulatory framework that creates access to financial services without compromising on compliance or consumer protection. The American Fintech Council said it consistently advocates on issues that are crucial to developing a more inclusive financial services industry, including improved data sharing and the development of an open banking ecosystem, as well as the expansion of innovation efforts that allow consumers to live their best financial lives.