Banking as a service

Green Dot launches digital banking service for immigrants with Welcome Technologies

  • Green Dot's banking as a service offering offers non-bank brands accounts, branded cards, and payments
  • Welcome Technologies services a U.S. immigrant population

Email a Friend

Green Dot launches digital banking service for immigrants with Welcome Technologies

Welcome Technologies announced the launch of a new bank account in partnership with Green Dot. The account and Visa card, PODERcard, are intended to help the unbanked immigrant U.S. Hispanic population.

What’s happening: Welcome Technologies turned to Green Dot’s Banking as a Service platform to launch its new account.

  • Welcome Technologies’ digital platform, SABEResPODER, serves close to 2 million active members with content and community for immigrants.
  • Less than 50% of U.S. Hispanic households are fully banked, according to the most recent FDIC National Survey.
  • Welcome’s banking card claims an easy to navigate bilingual interface (Spanish/English) and enrollment experience, and no monthly fees or required minimums.
  • The company also offers a financial wellness content library.

“The PODERcard is more than just a debit card or mobile bank account — it’s one of the first of many steps our users will take to secure a more financially stable future for themselves and their families,” said Amir Hemmat, CEO of Welcome Technologies. “We are challenging the status quo to ensure immigrant communities get fair and secure financial options.”


Need for new solutions: Immigrant populations frequently operate outside the traditional financial system.

  • A recent Welcome Tech survey of 10,000 immigrants found that 44% of participants stated they used credit cards and 54% savings accounts. 
  • When immigrants chose to borrow money, only 31% borrowed from banks, showing a persistent distrust in traditional financial institutions.

Green Dot’s Banking as a Service platform offers accounts, branded cards, and payments for firms like Walmart, Intuit TurboTax, Uber, and Stash.

“We are excited to partner with Welcome Technologies to reach this important and underserved community,” said Seth Ross, chief of enterprise partnerships at Green Dot. 

“Many families who are new to the United States have trouble accessing basic banking services, and we’re looking forward to helping those families enter the mainstream financial system.”

0 comments on “Green Dot launches digital banking service for immigrants with Welcome Technologies”

Outlier OpinionsMakers

Banking as a service

Ahon Sarkar, GM Helix by Q2, on how banks find their place in embedded finance

  • Helix is the Banking-as-a-Service platform of Q2 Holdings, a provider of digital solutions for the banking and lending sector.
  • Ahon Sarkar, GM at Helix, discusses the strategies banks can adopt to become better partners in the embedded finance ecosystem.
Sara Khairi | August 22, 2022
Banking as a service, Sponsored

Any company can embed banking products — but that doesn’t mean they should

  • While every company can embed banking into their business, not every business should — those that deeply integrate banking into their product ecosystem instead of tacking on a feature are more likely to differentiate themselves and succeed in the long run.
  • To optimize your odds for success, define your strategy, product hooks and business models early; pick the right partners; and play to your strengths so you have a competitive advantage going in.
Q2 | August 09, 2022
Banking as a service, Podcasts, Sponsored

‘Just because you can build a bank account doesn’t mean you should’: Helix’s Ahon Sarkar

  • Helix’s GM Ahon Sarkar joins us on the Tearsheet Podcast to break down what it takes for companies to win in embedded finance (and whether they should even try doing it at all).
  • What’s common among the winners? Established client relationship with trust, in a unique context, with a focus on differentiation, history of building user-centric products, and the right business model.
Q2 | July 21, 2022
Banking as a service, Finance Everywhere

For retailers, embedded finance solutions are still confusing

  • Embedded finance is growing in popularity, aiming to attract companies in any industry that are looking to implement financing solutions to their business.
  • However, adding financial products is easier said than done - in retail, one of the biggest markets for embedded finance solutions, many decision makers are still trying to understand what this would mean for their business.
Iulia Ciutina | June 16, 2022
Banking as a service, Podcasts, Sponsored

‘We don’t care about being the first, we care about being the best’: Helix’s Ahon Sarkar

  • Q2 rebranded its platform business earlier this year as part of revisioning embedded finance.
  • Helix’s GM Ahon Sarkar joins us on the Tearsheet Podcast to discuss what he’s learned servicing big brand clients and millions of users.
Q2 | April 20, 2022
More Articles