Fintech Pioneer Stash Unveils Stash Core

  • Banking
  • 21.09.2022 10:20 am

Stash, the investing and banking app with more than 2M customers and nearly $3B in assets under management, announced today that it successfully built and launched Stash Core, its new, proprietary infrastructure platform that underpins the service for Americans who bank like investors. Stash Core is a world-class system that unlocks new innovations in banking, and, in the future, new capabilities in credit, savings, lending, and more. It will also allow the company to more easily welcome new subscribers and meet demand. 

Stash’s new banking account experience, built on Stash Core, includes access to an upgraded Stock-Back® Debit Mastercard®, enhanced customer support, and refreshed benefits including increased rewards. The Stock-Back® Debit Mastercard®is the first and only of its kind, allowing customers to earn stock and invest when they shop (our patent was just approved). To date, Stash has given away more than 59M stock rewards1; going forward, Stashers will be able to earn up to 4x more with the relaunched card. 

“Stash Core gives us flexibility and ownership of every customer touchpoint. It’s the future of inclusive finance and transformative to our business,” says Stash co-founder and CEO, Brandon Krieg. “The entire Stash platform is for everyday Americans who want to build long-term wealth with a trusted partner. With Stash Core and the Stock-Back® Debit Mastercard®, we are able to deliver the very best in financial tooling, customer service, and AI-powered, personalized wealth-building for those who want to earn stock and invest as they spend.” 

Stash Core is the latest launch from the fintech leader, which in the past year surpassed $125M in annualized revenue and continues to grow its customer base. Over the past two years, weekly contributions are up by 30%, as everyday Americans rely on Stash to invest and save in today’s rapidly changing world. Stash Core is powered in part by integrations with industry-leading financial and technology partners Mastercard, Stride Bank, Marqeta, Mambu, Alloy, and nearly a dozen others that are top in their fields. 

“Stride Bank is proud to partner with Stash on the development and ongoing support of Stash Core and in issuing Stash’s Stock-Back® Debit Mastercard®,” said Jimmy Stallings, President Payments, Stride Bank. “The consumer-friendly features of Stash’s Stock-Back® Debit Mastercard®, which allow people to earn stock as they spend, is an extremely unique offering. Together with Stash’s financial education, customers grow their knowledge and diverse investments. Stash’s goal of empowering Americans to build better financial futures makes them an ideal partner for Stride Bank, as we are a leading fintech bank focused on driving financial innovation with integrity.” 

“Today’s digital world requires payment solutions that give people choice, control and empowerment in their financial lives,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “Mastercard shares in Stash’s vision of delivering an innovative and trusted experience, and we’re excited to work closely as the exclusive network to bring Stash’s Stock-Back® Debit Mastercard® to more people and support this next stage of growth.” 

“We’re proud to enable Stash’s new banking platform as they deliver seamless new financial services experiences for their customers,” said Simon Khalaf, Chief Product Officer at Marqeta. “Our partnership with Stash showcases the range of innovative banking and money movement solutions made possible by Marqeta’s APIs, and we look forward to supporting them as they grow and scale Stash Core and the Stock-Back® Debit Mastercard® across the globe.” 

“Stash and Mambu worked together to develop a new banking experience with savings goals that will make life easier for customers,” said Robin Smith, Regional VP, North America, Mambu. “The Stash team brought strong technical experience and a collaborative mindset, and it was a pleasure to work with them to build something that will be so useful to millions of people beginning their investing and savings journeys.” 

“We are thrilled to support Stash on the launch of Stash Core both because we are fans of the platform and because it supports our vision to create a more dynamic and accessible financial industry,” said Tommy Nicholas, co-founder and CEO at Alloy. “With Alloy’s identity decisioning platform, new and existing Stash customers can feel confident in the security of their assets.” 

Benefits of the new banking account for every Stash customer include the Stash Stock-Back® Debit Mastercard®; Auto-Stash; zero overdraft fees; direct deposit up to two days early; saving and budgeting tools; advanced mobile wallet capabilities and contactless payments; easy access to more than 55,000 ATMs; FDIC insurance up to $250,000 through Stride Bank, N.A., Member FDIC, plus advanced security features including Mastercard Global Service™ and Mastercard Zero Liability Protection. 

Stash+ Tier customers will also now get 1% Stock-Back on every Stash Stock-Back® Debit Mastercard® purchase.

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