The bank has launched with the help of 16-year-old Charli D’Amelio and her 91 million followers.
In Brief:
- D’Amelio, TikTok’s most-followed star, helped the FinTech kick off its launch with a $100,000 giveaway.
- Step offering a free FDIC-supported (Federal Deposit Insurance Corporation) bank account that comes with a Visa-backed card and promises users no interest or fees.
- It aims to help teenagers as young as 13 to build positive credit and develop smart money habits.
What does this mean
Today's teens expect to manage their money in the same seemless way they use social media. Many traditional banks have failed to keep up––largely overlooking this generation and their unique needs.
