Chime is launching new deposit accounts that offer cash-back and other customer benefits as it intensifies its challenge to traditional banks. CEO Chris Britt discussed the company’s plans and the state of the U.S. consumer on Bloomberg Tech; no quantitative guidance was given, but the product roll-out could modestly support deposit growth and increase competitive pressure on incumbent banks and neobanks.
Chime is launching new deposit accounts that offer cash-back and other customer benefits as it intensifies its challenge to traditional banks. CEO Chris Britt discussed the company’s plans and the state of the U.S. consumer on Bloomberg Tech; no quantitative guidance was given, but the product roll-out could modestly support deposit growth and increase competitive pressure on incumbent banks and neobanks.
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