Welcome to the Tearsheet Podcast. I’m editor in chief, Zack Miller. There’s a flurry of activity around creating bank accounts for young people. Getting the balance between autonomy and parental oversight is critical for teens and Step feels like it’s found the sweet spot. Joining me on the podcast is CJ MacDonald, founder and CEO of Step. CJ was the co-founder of gyft, a startup targeting the massive gift card market and was acquired by First Data. He’s come back to fintech with Step, a bank targeting teens and their parents. We talk about what teens are looking for from a bank and the challenges around servicing them. We discuss the product, CJ’s philosophy around monetizing teens, and Step’s acquisition channels. CJ MacDonald is my guest today on the Tearsheet Podcast.