Partnership Will Provide Hispanic and Other
Underserved Communities Access to a Seamless, Secure Bank Account
at 5,500-plus Locations Nationwide
DolFinTech, one of the largest privately held money transfer
companies serving outbound remittance markets in the U.S., Canada
and Spain, with more than 20 destination countries, today announced
a new partnership with Green Dot Corporation (NYSE: GDOT) to expand
its product suite with a new direct deposit (“DDA”) account powered
by Green Dot’s embedded finance platform and suite of services, Arc
by Green Dot.
DolFinTech provides non-banking financial services tailored to
the Hispanic community with over 500 company stores, 5,000 retail
agent locations and an expanding digital presence. Through this new
partnership, DolFinTech will expand its suite of solutions designed
to empower and enable its customers with a new seamless and secure
embedded banking account featuring valuable services like early
access to direct deposits, overdraft protection, and much more.
“We are excited to partner with Green Dot Corporation to
introduce embedded financial solutions that will redefine the
remittance experience. This collaboration offers seamless access,
enhanced security, and full control over funds, empowering users to
send, receive, and manage money with greater convenience and
flexibility,” said Omar Coss, Digital Products Director,
DolFinTech. “With direct deposit accounts and card issuance,
recipients can instantly access their funds, make purchases, pay
bills, or withdraw cash—without intermediaries or delays. This
innovation transforms cross-border payments into a truly borderless
experience, fostering financial inclusion for millions
worldwide.”
The demand for alternative financial services remains
significant in the U.S., with 4.5% of households unbanked and
another 14.1% underbanked—meaning they have a bank account but
still rely on nonbank financial services—according to the FDIC’s
National Survey of Unbanked and Underbanked Households. For the
tens of millions of Americans in these categories, many of whom
depend on DolFinTech financial service centers for convenient money
management, the introduction of the new DDA account powered by Arc
by Green Dot offers a seamless, affordable, and practical financial
solution to our combined LMI customers.
"Our shared LMI customers need banking options and value,
convenience and flexibility in managing their finances," said
Jamison Jaworski, GM/SVP, Consumer Division, Green Dot. "By
leveraging Arc, DolFinTech can now provide a modern, comprehensive
digital banking experience that simplifies financial management
with convenient tools to bridge gaps in traditional financial
services. We’re proud to collaborate in delivering better financial
solutions for DolFinTech’s customers."
Arc is the embedded finance platform featuring all of Green
Dot's secure banking and money processing capabilities that fuel
value, loyalty and growth for consumers and businesses. Arc by
Green Dot powers some of the world's most trusted brands and
thousands of other businesses with seamless, secure and useful
financial tools and experiences. Integrated with Green Dot Bank,
Arc provides partners with leading FDIC-insured banking products
and tools, plus regulatory and compliance expertise, oversight and
support. The Arc platform is cloud-based, modular and scalable by
design – configurable to meet a wide range of business needs and
goals, and flexible to adapt as our partners grow. Arc's end-to-end
banking services are powered by enterprise-grade APIs and offer
partners access to comprehensive customer support, fraud
protection, the largest retail deposit and ATM network in the U.S.,
and much more. For more information, visit greendot.com/arc.
About DolFinTech
Headquartered in Houston, Texas, DolFinTech is one of the
largest privately held money transfer companies, serving outbound
remittance markets in the U.S., Canada, and Spain, with over 20
destination countries. We proudly provide non-banking financial
services tailored to the Hispanic community, with over 500 company
stores, 5,000 retail agent locations and an expanding digital
presence. Our mission is to redefine financial services, offering
accessible solutions that empower underserved communities and
promote a better everyday life for our customers, employees, and
communities worldwide.
DolFinTech operates under its four trusted brands with over 100
years of combined experience—Barri, DolEx, Quisqueyana, and
Europhil—and offers a comprehensive range of services, including:
money transfer, check cashing, bill payment, mobile reloads, and
money orders.
For more information, please visit www.dolfintech.com.
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology
platform and registered bank holding company that builds banking
and payment solutions to create value, retain and reward customers,
and accelerate growth for businesses of all sizes. For more than
two decades, Green Dot has delivered financial tools and services
that address the most pressing financial needs of consumers and
businesses, and that transform the way people and businesses manage
and move money.
Green Dot delivers a broad spectrum of financial products to
consumers and businesses through its portfolio of brands,
including: GO2bank, a leading digital and mobile bank account
offering simple, secure and useful banking for Americans living
paycheck to paycheck; the Green Dot Network (“GDN”) of more than
90,000 retail distribution and cash access locations nationwide;
Arc by Green Dot, the single-source embedded finance platform
combining all of Green Dot’s secure banking and money processing
capabilities to power businesses at all stages of growth; rapid!
wage and disbursements solutions, providing pay card and earned
wage access services to more than 6,000 businesses and their
employees; and Santa Barbara TPG (“SBTPG”), the company’s tax
division, which processes more than 14 million tax refunds
annually.
Founded in 1999, Green Dot has managed more than 80 million
accounts to date both directly and through its partners. Green Dot
Bank is a subsidiary of Green Dot Corporation and member of the
FDIC. For more information about Green Dot’s products and services,
please visit www.greendot.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20250225136036/en/
Media Contact: Alison Lubert alubert@greendotcorp.com
Green Dot (NYSE:GDOT)
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Green Dot (NYSE:GDOT)
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