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The digital-only offshoot of Customers Bank combines edgier technology like letting consumers snap photos of their driver's license to open accounts with a new business model that counts on interchange revenue rather than fees.
January 20 -
JPMorgan Chase has announced it will begin allowing employees to expense rides from the mobile-app powered black car service Uber.
July 7 -
The McLean, Va., credit card lender is offering steep discounts to Uber riders, even though the promotion stands to hurt some of the bank's commercial borrowers.
April 24
Uber Technologies is drafting plans to offer banking services to its drivers as part of an effort to fend off ride-sharing competition,
The plan would provide drivers with a chance to register for a bank account or prepaid card when they apply to work for the car service. This would allow drivers to be paid on the same days they work, rather than on a weekly basis, Quartz reported, citing interviews with unnamed sources and documents it reviewed.
Many Uber drivers also work with other ride-sharing apps, and the firm reportedly is hoping that the financial products will make drivers more loyal to Uber.
The San Francisco-based company has reached out to different partners regarding the new services, according to Quartz, which did not name any specific firms. Uber did not respond to a request for comment from American Banker.
Other banking-related services Uber is reportedly exploring include cash-back discounts, merchant offers and international money transfers.
Uber already runs a separate program that offers an auto-leasing option for prospective drivers.
