FinovateSpring 2013 / GoBank (by Green Dot Corporation)
Presenter Profile:
How they describe themselves: GoBank is a brand of Green Dot Bank, Member FDIC. GoBank is the first bank account designed from scratch to be opened and used on a mobile device. With GoBank, members have full access and control of their money from their iPhone, iPod Touch or Android device, have no overdraft fees or minimum balance requirements, and can withdraw cash from more than 42,000 fee-free ATMs in the U.S. For more information about GoBank or to request a membership invitation, visit gobank.com.
How they describe their product/innovation: GoBank is a modern, feature-rich bank account designed from scratch to be opened and used on a mobile device. Every feature was developed with the mobile user in mind, resulting in a product that fits seamlessly into the daily life of GoBankers. GoBank offers a consumer-friendly pricing model of no overdraft fees or penalty fees and no minimum balance requirements. Free features include a budgeting tool, a linked debit card, a large ATM network, multiple deposit options and mobile bill and P2P payments.
Contacts:
Bus. Dev.: Sangeen Zeb, General Manager, GoBank, szeb@greendot.com
Press: Liz DiTrapano, press@gobank.com, 646-277-1226
Website: gobank.com
Twitter: @gobank
HQ Location: Pasadena, CA
Founded: GoBank launched in beta in January 2013. Green Dot was founded in October 1999.
Product Demoed: GoBank
Product Launch: January 2013 (in beta); July 4, 2013 (general availability)
Metrics: Since GoBank is still in beta, we do not have shareable membership numbers at this time. Parent company Green Dot is a publicly traded bank holding company (NYSE: GDOT) and completed a successful IPO in 2010. The company currently employs more than 590 team members and announced on its Q4 conference call that its number of active cardholders on its prepaid cards had risen to 4.37M at the end of 2012, demonstrating that it is a trusted provider of transparent, trustworthy financial services products. You can get an invitation to GoBank NOW, before the General Availability. Just LIKE GOBANK on Facebook.
- Key Executives
Steve Streit (Chairman, President & CEO), John Keatley (CFO), John Ricci (General Counsel), Kostas Sgoutas (Chief Revenue Officer), Sam Altman (Director & EVP Mobile Products & Strategy)
Key Stats
- Key Board Members
Steve Streit (Chairman, President & CEO, Green Dot), Kenneth C. Aldrich (Chairman of the Board of International Stem Cell Corporation), Sam Altman (Director & EVP Mobile Products & Strategy, Green Dot), Timothy Greenleaf (Managing Director, Fairmont Capital, Inc.), Virginia Hanna (President & CEO, Hanna Capital Management, Inc.), Ross Fendell (retired after a 35 year career with KeyBank of Utah where he served as director, President & CEO from 1989 to 1995), Mike Moritz (Managing Member, Sequoia Capital), William H. Ott, Jr (President, PEAC Ventures, Inc., a corporate advisory and consulting firm)
- Key Investors
Sequoia Capital