Credit Sesame now among fastest growing digital banking service providers in the U.S.
Credit Sesame announced the completion of its acquisition of Canadian challenger bank STACK. This acquisition marks the beginning of the company’s international expansion. Credit Sesame and STACK began a partnership in late 2019, marrying Credit Sesame’s deep credit expertise and STACK’s innovative digital banking services to create Sesame Cash, a new kind of no-fee digital banking service that helps consumers grow their cash and credit together in one place.
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Credit Sesame began rolling out Cash to a limited number of existing customers in March and, after two months of a successful pilot, opened up general availability in mid-May. More than 200,000 customers have signed up for Sesame Cash in less than a month, and the demand continues to surge with thousands of new accounts per day, putting Credit Sesame among the fastest growing digital banking service providers in the U.S. Credit has more than 15 million members, and 62 percent have expressed interest in Cash for better cash and credit management.
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“Together with STACK, we are combining the power of smart banking and AI-driven credit management to create a new kind of personal finance,” said Adrian Nazari, CEO and founder, Credit Sesame. “How much cash you have, and how and when you use your cash, have a big impact on your credit. Adding cash management to our credit platform was a natural next step to better help consumers manage their overall financial health, and it creates a unique benefit for our consumers and financial partners.”
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