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

How mutually beneficial partnerships within the BaaS ecosystem can help banks and fintechs expand into lending: Piermont Bank’s Rodrigo Suarez

  • In a conversation about BaaS relationships during Tearsheet Talks, Piermont Bank's chief banking officer shares valuable insights on the dynamics of bank-fintech partnerships.
  • Delve into the world of sustainable collaborations by learning how aligning incentives and leveraging expertise can reshape the future of banking.
Tearsheet Editors | October 24, 2023
Banking as a service

On raising a financially informed generation: Behind Stockpile’s new debit card targeting families

  • Digital brokerage platform Stockpile has teamed up with Green Dot to launch a youth-focused debit card as part of Stockpile’s product lineup.
  • CEO of Stockpile, Victor Wang and Green Dot's Simran Singh share insights on how this collaboration supports building financial confidence among younger consumers.
Sara Khairi | October 19, 2023
Banking as a service

Greenlight gears up its B2B offerings with “Greenlight for Banks”

  • On Wednesday, Greenlight announced the launch of its new B2B product “Greenlight for Banks” with which FIs can integrate its services within their own ecosystems. 
  • With the integration, banks can access Greenlight’s entire suite of family-oriented banking tools such as financial tools for earning, saving, spending, and giving.
Rabab Ahsan | April 04, 2023
Banking as a service

Download Tearsheet’s Buyers Guide to Banking as a Service 2022

  • With the advent of Banking as a Service, any company can become a bank by integrating banking products into their existing offerings.
  • Tearsheet's guide helps decision makers at fintechs and top brands choose the right BaaS partner to grow their business.
Subboh Jaffery | December 21, 2022
Banking as a service, New banks

The Big Bank Theory Conference 2022: All session videos

  • Tearsheet's Big Bank Theory Conference brings together the most innovative players changing the face of the financial institution.
  • Here are the videos from this year's conference, held in December online.
Shabih Rao | December 21, 2022
More Articles