Tagged: chime

Fintech Firm Chime Acquires Salt Labs to Enhance Financial Services

Fintech firm Chime announced its acquisition of Salt Labs, an enterprise technology company dedicated to enhancing the financial stability of hourly workers. The transaction, which did not disclose its financial details, positions Chime to tap into new growth and revenue opportunities through Salt Labs’ extensive… Read More

Consumer Fintech Chime Shares Latest Updates for Early Pay Product

In May, Chime announced the news of its latest product innovation: MyPay. Consumers across the country are done waiting for payday, Chime notes while claiming that within 48 hours of sharing the news of MyPay and early access to the product “for eligible members, more… Read More

Fintech Chime Teams Up With FairPlay to Embed Fairness into its Algorithmic Decisions

FairPlay, a Fairness-as-a-Service company, announced a customer relationship with Chime, a financial technology platform founded on the belief that everyday people deserve access to helpful, transparent and fair banking services to unlock financial progress. Chime will implement FairPlay’s solutions in “the underwriting models powering the… Read More

Consumer Fintech Chime Introduces Earned Wage Access (EWA) Feature

Chime, provider of a banking app, is announcing MyPay, a new offering that will aim to transform how everyday people access their pay in America. MyPay, Chime’s innovation, lets eligible members “access up to $500 of their pay, including government benefits, before payday with no… Read More

CFPB Announces Action Against Fintech Firm Chime for “Illegally” Delaying Consumer Refunds

The Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for allegedly “failing to give consumers timely refunds when their accounts were closed.” Thousands of consumers waited for weeks or even months “for balance refunds after closing their accounts – a failure that inflicted… Read More

Consumer Fintech Chime Shares Key Insights Focused on Financial Literacy

According to a recent survey, the memes are true: while only a quarter (26%) of Gen Z respondents say they can successfully define taxable income, “more than half (52%) of Gen Zs know the mitochondria as the powerhouse of the cell.” On top of that,… Read More

Digital Bank Chime Is Offering Seamless In-App Tax Filing

In time for tax season, Chime is offering its in-app tax filing pilot program for free¹ to even more members. After early success with the pilot launch, the all-new tax feature is now available to millions more Chime members, showing members are eager for a… Read More

Fintech Firm Chime to Pay $2.5M Fine Linked to Customer Complaints During COVID Outbreak

The California Department of Financial Protection and Innovation (DFPI) announced that it has entered into a consent order with San Francisco-based Chime Financial, Inc.. The order, which includes “a $2.5 million penalty, resolves DFPI’s investigation regarding the accuracy and responsiveness of Chime’s handling of customer… Read More

Consumer Fintech Chime Partners with Zogo, a Financial Education Platform

Chime is pleased to announce a new partnership with Zogo, a financial education platform that offers bite-sized, gamified lessons where users can complete lessons to earn real rewards like gift cards, charity donations and more. All Chime members now “have fee-free access to more than… Read More

US Consumer Fintech Chime Shares End of Year Highlights, Remains Focused on Improving CX

At Chime, they claim to firmly believe that their members’ experience with our products is at the core of their success. That’s why Chime claims it continuously goes the extra mile “by investing in simple, beautiful, easy experiences that allow their members to control their… Read More

Fintech and Consumer Protection Professional Shara Chang Joins Chime as Chief Compliance Officer

Chime is pleased to welcome Shara Chang to the company as Chief Compliance Officer. Shara reportedly “brings 15 years of financial services, fintech, and consumer protection experience to Chime.” She’s previously advised banks and high-growth companies “on regulatory compliance, risk management, and product development.” As… Read More

Consumer Fintech Chime Appoints Madhu Muthukumar as Chief Product Officer

Chime is pleased to announce that Madhu Muthukumar has joined the company as our first Chief Product Officer (CPO). This appointment furthers Chime’s commitment “to creating the next wave of innovative products and services critical to their members’ needs and their long-term success as we… Read More

Menlo Ventures Recruits Former President of FTX Ventures, Amy Wu, to Expand Consumer Practice

Venture capital firm Menlo Ventures announced a new partner: Amy Wu. Amy joins Menlo “to grow the firm’s consumer and gaming practice and build on Menlo’s track record, which includes early investments in well-known consumer companies like Chime, Pillpack, Poshmark, Roku, Rover, Siri, Uber, and… Read More

Fintech Firm Chime Welcomes Nick Fairbairn, Ex- Experian, to Executive Team

Chime is pleased to announce that Nick Fairbairn has joined the company as VP of Product Marketing. Nick reportedly “brings a wealth of experience to the role, having served as the former CMO of Gabi andr Sr. Director of Acquisition then later VP of Brand… Read More

US Fintech Chime Promotes Tenured Employees to Senior Roles

Neobank Chime is pleased to announce the promotion of several of its executive leadership team members “in the areas of people, customer experience, and technology.” The following leaders will now be officers of the company. Their promotions “are evidence of their contributions and impactful work… Read More

Meta and Fintech Chime to Reportedly Sue Alleged Phishing Scam Artists Operating in Nigeria

Mark Zuckerberg‘s Meta is teaming up Fintech Chime in order to go after (alleged) Nigerian scammers that the firms claim have been using social media channels to trick or deceive unsuspecting users out of their hard-earned cash. As reported by Newsweek, the lawsuit marks the… Read More

US Fintech Chime Introduces Free Cash Deposits at Walgreens

US Fintech firm Chime recently revealed that they are introducing free cash deposits at Walgreens. Chime has teamed up with Walgreens (Nasdaq: WBA) to provide free cash deposits at 8,500+ locations. That’s “more walk-in locations than you’d have using any bank in the US.,” the… Read More

CFPB Slams Traditional Banks for Reliance on Overdraft Fees

The Consumer Financial Protection Bureau (CFPB) is out with a note that hammers traditional banks and their reliance on overdraft fees. Frequently the target of neobanks and other Fintechs, the overdraft fee has been criticized as the $30 cup of coffee when someone inadvertently makes… Read More

Fintech Chime Secures $750M at $25B Valuation from SoftBank, Sequoia Capital Global Equities, Others

Chime revealed on Friday (August 13, 2021) that it secured $750 million in capital through a Series G round round that now values the Fintech Unicorn at $25 billion. Notably, that’s $10 billion more than what the company had reported in October 2020 (when it… Read More

Neobank Not? California Tells Chime to Stop Using the Term Bank

Mr. Potter Banker Banking (1)

When is a bank a bank? While this is a great debate for regulators and existential philosophers, for most people it simply has to do with holding money securely and using it when you want. For years now, Fintechs that have provided bank-like services have… Read More

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