Credit Sesame, a financial wellness platform known for providing consumers with access to credit information, has partnered with Green Dot Corporation (NYSE: GDOT) to enhance its Sesame Cash smart digital banking service. The collaboration leverages Green Dot’s embedded finance platform, Arc, to offer users access to FDIC-insured demand deposit accounts (DDAs) at launch.
This partnership follows the recent introduction of Credit Sesame’s AI-backed management platform, Sesame. As part of the collaboration, additional services, including credit-building tools, will become available to Sesame Cash users. These future enhancements are designed to help customers grow their savings and improve their financial health.
David Bagatelle, Head of Global Operations and Banking at Credit Sesame, stated, “This partnership with Green Dot allows us to scale Sesame Cash faster and deliver smarter, more accessible tools to help people transform their finances more quickly. With their banking infrastructure and like-minded dedication to financial inclusion, we’re excited to deliver an even more powerful Sesame Cash experience that empowers people to take control of their money and their future.”
Among the soon-to-come enhancements on the Sesame Cash roadmap is Sesame Credit Builder. This feature will enable users to build and improve their credit scores through everyday debit purchases, with activity reported to major credit bureaus. This reporting is intended to help users enhance their credit scores with each payment.
Renata Caine, GM/SVP of Embedded Finance at Green Dot, commented, “We are thrilled to partner with Credit Sesame to support, enhance and grow the Sesame Cash banking experience for their users. Our shared commitment to improving consumers’ financial health through embedded financial services provides a strong foundation for this partnership, and we look relevant to continued innovation with Credit Sesame for years to come.”
Credit Sesame, with a decade of credit expertise and serving over 18 million users, utilizes AI and advanced analytics to help individuals improve credit scores and reduce credit costs. Its recently launched Sesame Platform provides financial institutions with a turnkey AI-powered credit intelligence solution to drive customer engagement.
Arc, Green Dot’s embedded finance platform, offers secure banking and money processing capabilities designed for businesses. Integrated with Green Dot Bank, Arc provides partners with FDIC-insured banking products, regulatory and compliance expertise, and support. The platform is cloud-based, modular, and scalable, featuring enterprise-grade APIs, customer support, fraud protection, and a retail deposit and ATM network in the U.S.
