Credit Sesame Enhances Digital Banking with Green Dot Partnership

Credit Sesame has partnered with Green Dot to enhance its Sesame Cash digital banking services. Users will benefit from FDIC-insured demand deposit accounts through Green Dot's Arc platform. Future enhancements include Sesame Credit Builder, which boosts credit scores through everyday purchases. The partnership aims to democratize financial wellness and facilitate a more empowered financial journey for millions across the US.

Credit Sesame, a leading financial wellness platform, has partnered with Green Dot Corporation to enhance its Sesame Cash digital banking services. The collaboration aims to provide users with FDIC-insured demand deposit accounts (DDAs) through Green Dot's Arc platform. This partnership is set to deliver additional features, including Sesame Credit Builder, which will help users build and improve their credit scores through everyday debit purchases.

Enhancing Financial Wellness

Credit Sesame, known for its free and ongoing access to credit information, has integrated Green Dot's embedded finance platform, Arc, into its Sesame Cash service. This integration will offer users access to FDIC-insured demand deposit accounts at launch. The partnership is designed to make financial wellness more accessible by providing users with tools to manage their money and improve their credit scores.

According to David Bagatelle, Head of Global Operations and Banking at Credit Sesame, "This partnership with Green Dot allows us to scale Sesame Cash faster and deliver smarter, more accessible tools to help people transform their finances more quickly. With their banking infrastructure and like-minded dedication to financial inclusion, we’re excited to deliver an even more powerful Sesame Cash experience that empowers people to take control of their money and their future."

Future Enhancements

The partnership brings several future enhancements to the Sesame Cash platform. One of the notable features is the Sesame Credit Builder, which will enable users to build and improve their credit scores with everyday debit purchases. These purchases, ranging from coffee to subscriptions, will be reported to the major credit bureaus, helping users improve their credit scores with each payment.

Renata Caine, GM/SVP of Embedded Finance at Green Dot, expressed excitement about the partnership, stating, "We are thrilled to partner with Credit Sesame to support, enhance, and grow the Sesame Cash banking experience for their users. Our shared commitment to improving consumers’ financial health through embedded financial services provides a strong foundation for this partnership, and we look forward to continued innovation with Credit Sesame for years to come."

About the Companies

Credit Sesame is a financial wellness platform dedicated to helping consumers achieve better financial health through cutting-edge technology and data-driven solutions. With a decade of credit expertise and a proven track record of serving over 18 million users, Credit Sesame leverages AI and advanced analytics to empower individuals to improve their credit scores, enhance approval odds, and reduce credit costs.

Green Dot Corporation is a financial technology platform and registered bank holding company that builds banking and payment solutions to create value, retain, and reward customers, and accelerate growth for businesses of all sizes. Green Dot's Arc platform offers secure banking and money processing capabilities, fueling value, loyalty, and growth for consumers and businesses.

References

[1] https://www.marketscreener.com/news/credit-sesame-enlists-green-dot-to-enhance-sesame-cash-digital-banking-offering-ce7c5edfdd8cfe24
[2] https://finance.yahoo.com/news/credit-sesame-enlists-green-dot-120000834.html