Welcome to Banking on Primacy, a four-part podcast miniseries from Fintech Takes, sponsored by Chime.
The series orbits one question that has become the most contested in consumer finance: what does it take to earn (and hold) the most important relationship in someone’s financial life?
In Episode 3, I sit down with Jason Lee, Chief of Chime Enterprise. We unpack fintech as an employee benefit, which is compelling in theory but harder in practice than most founders expect.
Employers don’t wake up wanting fintech products. They want workers who stay. Jason founded DailyPay in his basement in 2015, built it into a multi-billion dollar company, and now looks after Chime’s employer-facing business after Chime acquired his second company, Salt Labs. His read on what it actually takes to make this model work is fascinating.
-
Why do most earned wage access products only reach 30% of a workforce and what serves the other 70%?
-
Why does brand recognition drive employee adoption more than the product itself?
-
Now that earned wage access is morphing into the financial health industry, where does that leave point solutions?
This episode is brought to you by Chime.
For most Americans, their primary bank account is their most important financial relationship. Traditional banks held that position and took it for granted. Chime was built differently: fee-free, built to succeed when members do, and now America’s #1 banking choice with roughly 10M active members.
Chime Prime takes that further: 5% cash back, savings rates up to 9x the national average, premium travel perks, no fees. See how at https://www.chimeprime.com/
Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/
And for more exclusive insider content, don’t forget to check out my YouTube page.
Follow Alex:
YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos
LinkedIn: https://www.linkedin.com/in/alexhjohnson
Twitter: https://www.twitter.com/AlexH_Johnson
Follow Jason: