Member Exclusive, New banks

‘Culture is the fabric of resilience’: How Quontic Bank’s core values helped it navigate through the pandemic

  • Quontic Bank is a $400 million bank based in New York.
  • The firm's CIO Patrick Sells describes how culture helped the firm navigate through the uncertainty of the pandemic.
Michael Deleon | August 25, 2020
close

Email a Friend

‘Culture is the fabric of resilience’: How Quontic Bank’s core values helped it navigate through the pandemic

Patrick Sells didn’t come up the ranks in community banking. As the CIO of $400 million Quontic Bank, he had started his own digital marketing firm in college. Unsuccessful in wooing banking clients, it’s now that he realizes why he wasn’t able to land financial services firms.

“I never did work for a bank because I didn’t understand all the regulations and what it means to be a bank,” he said at Tearsheet’s inaugural Resilience Conference.

Profile

Robinhood is an online stock brokerage that offers its customers commission free trading and investing. Robinhood users can invest and trade in stocks, exchange traded funds, options, and cryptocurrency. Customers can invest in over 5,000 stocks with Robinhood, including most U.S. equities and ETFs listed on U.S. exchanges.

Robinhood Financial, LLC and Robinhood Crypto, LLC are wholly-owned subsidiaries of Robinhood Markets, Inc. All cryptocurrency holdings are held in Robinhood Crypto as opposed to Robinhood Financial.

The company was founded in 2013 by Stanford roommates Baiju Bhatt and Vladimir Tenev. It has its headquarters in Menlo Park California and offices in the U.S and the UK.

Account Types

Robinhood’s products are accessible through its three different accounts: Robinhood Instant, Robinhood Gold and Robinhood Cash.

Robinhood Instant

Robinhood Instant is the default Robinhood account which is a margin account that has access to extended hours trading and instant deposits. Robinhood Instant account users do not have to wait for funds to process while selling stocks or depositing up to $1000.

Robinhood Gold

Robinhood Gold comprises a range of investing tools and premium products such as greater instant deposits starting at $5000 to a max of $50k, research from Morningstar on 1700 stocks, Level II Market Data from Nasdaq and more access to trading on margin. It has greater buying power and larger instant deposits as compared to the Robinhood Instant account.

This content is available exclusively to Tearsheet Outlier members.

\"Tearsheet Missing out? Subscribe today and you\’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account

0 comments on “‘Culture is the fabric of resilience’: How Quontic Bank’s core values helped it navigate through the pandemic”

Outlier OpinionsMakers

“Quontic Bank and Patrick Sells show us a great example of how strong cultures need to be adaptive in real life. Some new work from Jenny Chatman and Francesca Gino in HBR show that these types of companies can earn 15% more in revenue vs. peers who are less adaptable. This is great news for the disruptive fintech industry, well suited to quick pivots. ”

Jennifer Tramontana

President, Fletcher Group LLC
Modern Marketing, New banks

Embracing ‘side bank’ status: 5 questions with Aaron Wollner, CMO of Quontic

  • As a community bank turned digital bank, Quontic has its own unique challenges in sticking out of the crowd.
  • In this Q&A, CMO Aaron Wollner talks about what’s new in the digital bank’s campaign work and how it’s been shifting its messaging to fit the current financial climate.
Rivka Abramson | October 19, 2022
New banks, Sponsored

Creating a winning neobank strategy through differentiation

  • There is a notable opportunity for neobanks to fill gaps that currently exist in traditional financial services, especially since they are free of the restraints of dated technology.
  • However, to be effective, they must identify a primary differentiator or central mission and then build the user experience around that north star.
Praxent | October 18, 2022
Member Exclusive, New banks

Banking Briefing: Will WFH become a thing of the past?

  • Banks are pushing to get employees back in the office – but what will that do for their efforts to attract tech talent?
  • Meanwhile, gender inequality is alive and well in the banking industry. Here’s what one bank is doing to try and solve that.
Rivka Abramson | September 12, 2022
New banks

Are neobanks still considered disruptors?

  • Neobanks include thousands of companies seeking to disrupt banks across different customer segments and products.
  • As the digital transformation unfolds throughout the financial services industry, there will be a role for all types of service providers, including brick-and-mortar institutions.
Lindi Miti | September 02, 2022
New banks

Timberland Bank offers a savings program that pays customers to learn about finances

  • Integrations don’t have to be a painful, dragged out process if the right people are involved.
  • Paying people for learning about their finances can improve financial wellness and customer engagement.
Rabab Ahsan | September 01, 2022
More Articles