Mark Shifke Named Green Dot CFO After Interim Term

Mark Shifke Named Green Dot CFO After Interim Term

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Prepaid card company Green Dot announced yesterday it has appointed Mark Shifke as CFO.

Shifke had been interim CFO for the California-based company since May 2015, when prior CFO Grace Wang began a new role as SVP of corporate finance and business intelligence.

During those eight months, Green Dot expanded its CFO search outside the company; however, after reviewing the applicants, Green Dot CEO Steve Streit said it became “clear that the best candidate was already serving in the role as our interim CFO.”

Before joining Green Dot in 2011, Shifke served as VP at Goldman Sachs and managing director at JP Morgan Chase.

GoBankFounded in 1999, Green Dot launched GoBank at FinovateSpring 2013. GoBank is a mobile-first bank that offers a debit card, bill pay, and access to 40,000 free ATMs. With no overdraft fees or minimum balance requirements, it targets the underbanked population.

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Green Dot Boosts CTO Kuan Archer to Chief Operating Officer

green-dot-logo.jpgChief Technology Officer Kuan Archer is Green Dot’s new COO.

After two years leading the company’s technology organizations, Archer will add oversight of vendor management and procurement, business continuity, human resources, supply chain and retail execution to his responsibilities.

Steve Streit, chairman and CEO of Green Dot said, “Kuan has proven to be one of the most impactful leaders in the company’s history. He incited an immediate and lasting shift in our ability to create meaningful technology developments.” Archer will report directly to Streit in his new role.

KuanArcherGreenDotcropped.jpg

Before joining Green Dot, Kuan Archer served as vice president of the Cloud Services Platform division at Rovi Corporation. Previous to Rovi, where he spent more than six years, Archer worked at Symantec Corporation. At Symantec, Archer was responsible for designing the company’s first web and mobile-based consumer ID protection and transaction security solution for FIs and e-commerce merchants.
A specialist in consumer financial technology, Green Dot provides reloadable, prepaid debit cards and cash reload processing services throughout the U.S. Beginning 2014 by winning four categories at the 2014 Paybefore Awards, the company announced an extension of its contract with Walmart in December, and in September purchased TPG, adding tax refund processing to its list of services.
Headquartered in Pasadena, California, Green Dot demoed a beta version of its mobile checking account, GoBank, at FinovateSpring 2013.

Walmart to Distribute GreenDot Prepaid Products in 2015

GoBank_Logo_small.jpgIf your new year’s resolution is to better manage your money, you can pick up a tool to help you accomplish it at Walmart.

Prepaid card company, GreenDot has extended its contract with retail giant, Walmart. Through the agreement, Walmart will distribute the California-based company’s prepaid products through 2015, including GreenDot’s GoBank, which was debuted at FinovateSpring 2013.

Since Walmart accounted for 53% of GreenDot’s revenue in Q3 of 2014, this is good news for GreenDot, though the two have yet to reach a multi-year agreement.
GoBankScreenshot.jpg
GoBank is a mobile and online-only account aimed at the un- and underbanked. Its mobile-first UI offers users free cash deposit and direct deposit services, mobile RDC, free ATM usage, online billpay, and a P2P payments platform.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.