Fintech Current says new checking product raises total accounts to 400,000

June 21, 2019

Current, a New York-based fintech aimed at the teen market, said it now has 400,000 active accounts since launching a checking product earlier this year to grow its business among adult users.

Current said its banking products give users access to their income two days earlier than the normal payday.

"Building on the success of our teen banking product, we've seen tremendous growth with these new personal checking accounts, allowing us to grow with our users," Stuart Sopp, founder and CEO of Current, said in a company release. "Traditional banks have high fixed costs and overhead and unless you have a lot on deposit, you aren't a valuable customer to them, so they pass on their costs to you."

The company said its checking account also includes savings pods, which allow users to put away funds for specific needs, for example a vacation or emergency fund.


 

Topics: Mobile Apps, Mobile Banking

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