Green Dot Appoints Amit Parikh to Lead Banking as a Service

Rhea-AI Summary

Green Dot Corporation (NYSE: GDOT) announced the appointment of Amit Parikh as the Executive Vice President of its Banking as a Service division. Parikh brings experience from Apple and Discover Financial Services, where he managed fintech partnerships and prepaid business. His leadership is expected to enhance Green Dot's growth in providing innovative banking solutions for major brands like Apple, Walmart, and Amazon. CEO Dan Henry emphasized the importance of Banking as a Service as a critical growth area for Green Dot's future.

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• Amit Parikh's extensive experience in fintech is expected to strengthen Green Dot's leadership in Banking as a Service.
• The appointment aligns with the growing demand for seamless banking solutions, positioning Green Dot for potential growth.

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Green Dot Corporation (NYSE: GDOT) today announced Amit Parikh is joining the company as Executive Vice President of its Banking as a Service division. In this role, Parikh will lead the organization responsible for delivering end-to-end technology and program management to Green Dot’s banking as a service partners, and building innovative, seamless, and value-driven fin-tech ecosystems for some of the world’s most prominent consumer and technology companies. Parikh will be a member of the executive management team and report to Green Dot’s President and CEO, Dan Henry.

“Green Dot is a financial technology pioneer known for enabling payments and banking solutions for some of the most innovative and respected brands in the world,” said Mr. Parikh. “The company’s unique collection of assets coupled with the growing demand for seamless banking and payments solutions present tremendous opportunity for the business, and I am thrilled to be a part of this journey.”

Parikh joins Green Dot from Apple, where he worked across the Apple Pay business. Prior to joining Apple, Parikh spent 13 years at Discover Financial Services, where he was most recently Vice President of Global Business Development, responsible for managing relationships with fintech partners, and oversaw the company’s prepaid business.

“The opportunity to help businesses put more useful and modern money management solutions in the hands of their customers is a top priority for us,” said Dan Henry, President and CEO, Green Dot Corporation. “Banking as a service is an important growth engine for the future of Green Dot, and Amit’s experience building programs for some of the world’s leading tech and financial services companies, along with his leadership and perspectives on the future of this sector, will fuel Green Dot’s continued rise as one of the nation’s leading innovators in BaaS.”

Green Dot’s banking as a service business currently serves a wide variety of leading brands, including Apple, Walmart, Amazon, Uber, Intuit, and more. For more information, visit: www.greendot.com/business-solutions.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology and registered bank holding company committed to transforming the way people and businesses manage and move money, and making financial wellbeing and empowerment more accessible for all.

Green Dot’s proprietary technology enables faster, more efficient electronic payments and money management, powering intuitive and seamless ways for people to spend, send, control and save their money. Through its retail and direct bank, Green Dot offers a broad set of financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. The company’s Banking as a Service (“BaaS”) platform enables a growing list of America’s most prominent consumer and technology companies to design and deploy their own customized banking and money movement solutions for customers and partners in the US and internationally.

Founded in 1999 and headquartered in Pasadena, CA, Green Dot has served more than 33 million customers directly, and now operates primarily as a “branchless bank” with more than 90,000 retail distribution locations nationwide. 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 https://www.greendot.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210222005165/en/

FAQ

Who is Amit Parikh and what is his role at Green Dot?

Amit Parikh is the newly appointed Executive Vice President of the Banking as a Service division at Green Dot, responsible for leading technology and program management for banking partners.

What previous experience does Amit Parikh have?

Before joining Green Dot, Amit Parikh worked at Apple, focusing on Apple Pay, and spent 13 years at Discover Financial Services in various roles, including managing fintech partnerships.

How does Amit Parikh's appointment affect Green Dot's business strategy?

His appointment is expected to enhance Green Dot's capabilities in Banking as a Service, helping the company meet the growing demand for innovative banking solutions.

What companies does Green Dot currently partner with in Banking as a Service?

Green Dot's Banking as a Service platform serves major brands including Apple, Walmart, Amazon, Uber, and Intuit.