Dave is on a mission to put financial minds at ease by greatly reducing the cost, usability and accessibility of the legacy financial system.
With twice as many Black and Latino Americans paying bank fees and Black Americans being 5x more likely to be unbanked, there is no doubt that the current financial system is broken. As an industry-leading fintech disrupting financial services, Dave has an opportunity to reimagine a more equitable future for finance.
Dave is using a mix of internal groups as well as external resources and partners to help us measure our progress without bias.
We are also looking to benchmark our progress against LA’s tech industry and use our 2020 company data as a baseline for continued progress year over year.
Dave is the finance version of David vs. Goliath. Three friends were fed up with their banking experience, often incurring $38 overdraft fees and never having insights into how much money was left before payday.
With customer loyalty at big banks at an all time low, they figured building the next great financial institution, one that could service 99% of Americans, not just the 1%, was the right idea for the times.
Instead of building a bank right away, they started with solving for simple pain points like overdraft protection and automated budgeting to amass millions of loyal members.
Today, Dave has reinvented many other areas of finance, from no-interest cash advances, income creation, un-bounceable checks and more to truly take on goliath.