Tearsheet Podcast: Exploring Financial Services Together cover image

Tearsheet Podcast: Exploring Financial Services Together

Inside Cash App's approach to banking its base: A conversation with Ryan Budd

May 27, 2024
Ryan Budd, Head of financial products at Cash App, reveals Cash App's evolution into a full-service banking platform offering banking, investing, crypto trading, and more. He discusses empowering underbanked communities, team autonomy, and the app's value in financial health. They aim to be the 'next gen community bank' merging banking, commerce, and network effect for financial control.
37:34

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Cash App offers a full suite of financial services beyond just money transfers.
  • Cash App aims to empower users by providing automated money management and access to credit.

Deep dives

CashApp's Strategy to Attract More Primary Banking Customers

CashApp aims to convert more of its 24 million users into primary banking customers by offering a range of banking features. This includes swiping the CashApp debit card, depositing paychecks, and accessing various financial products like Direct Deposit, 4.5% savings yield, investing, and free tax filing. The strategy is to provide significant value to customers while presenting a growth opportunity for the business.

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