Fintech firm Credit Sesame collaborates with Green Dot to bolster its Sesame Cash digital banking services.
In a groundbreaking move, Credit Sesame and Green Dot Corporation have joined forces to deliver smarter, more accessible tools to help people transform their finances more quickly. This partnership aims to power and enhance Credit Sesame's Sesame Cash smart digital banking service, with the shared commitment to improving consumers' financial health through embedded financial services forming a strong foundation.
The new services will be integrated into Credit Sesame's newest AI-backed management platform, Sesame. One of the key enhancements is the Sesame Credit Builder, an upcoming enhancement on the Sesame Cash platform. This feature will enable users to build and improve their credit scores with everyday debit purchases.
The partnership with Green Dot Corporation brings several new features and benefits to Sesame Cash. For instance, users will now have access to federally insured deposit accounts, providing greater security and stability for their funds, thanks to Green Dot’s infrastructure.
Moreover, the Sesame Credit Builder incorporates new tools designed to help users improve their credit scores by monitoring credit activity and reporting positive credit behaviors to bureaus. The technical integration with Green Dot’s embedded finance platform, Arc, also enables smoother account management and innovative product features within Sesame Cash, bolstering both usability and credit-building functionality.
Users can now use the Credit Builder Debit Card to build credit confidently, with some purchase activity reported to credit bureaus, supporting the establishment or improvement of credit history. The app also provides weekly credit summaries, real-time alerts, and credit score simulation tools to help users understand how different financial decisions affect their credit scores.
To further motivate users, the partnership offers incentives for credit improvement. Users can earn rewards, such as up to $100, for significantly boosting their credit scores within a set period, adding a motivational element to credit-building efforts.
Credit Sesame shares a like-minded dedication to financial inclusion with Green Dot Corporation. With the partnership, Sesame Cash users will now be able to improve their credit scores with purchases as diverse as coffee and subscriptions. At launch, users will also be offered access to FDIC-insured demand deposit accounts (DDAs).
Green Dot Corporation expresses excitement about partnering with Credit Sesame to support and grow the Sesame Cash banking experience for users. They look forward to continued innovation for years to come. The partnership is aimed at scaling Sesame Cash faster and helping customers grow their savings.
Through this strategic partnership, the enhanced Sesame Cash service will leverage Green Dot Corporation's technology, ensuring seamless digital banking for users. This alliance in business and finance aims to expand access to credit-building tools, enabling Sesame Cash users to improve their financial health using everyday purchases.
