Meed Banking Club launches in the US with member exclusives
New banking service in the US
A new banking service, Meed Banking Club, is hitting the US with a compilation of financial services delivered on mobile and digital, aimed at fostering savings for customers.
The firm’s app offers “from exclusive member benefits on purchases big and small to travel rewards and built-in savings tools”.
Meed has partnered with Vast Bank, an Oklahoma-based bank, formerly known as Valley National Bank, from which it leverages banking services. Vast Bank is itself in the process of modernising its technology with SAP and Axxiome.
Meed says it aims to “change mobile banking for good”. The firm is not just a savings or checking account, but actually provides similar benefits to a club, as its name implies. It says it was purpose-built from the ground up with a focus on better banking basics and “exceptional” member benefits.
For a subscription of $9.95 per month, Meed provides banking, insurance, travel features, discounts at selected stores, personal finance management and so on.
Meed was established in 2013 and is based in Santa Monica, California. It is led by Les Riedl, CEO, who has been in the firm since 2015 and previously was CEO of Bank Solutions Group. The COO and CTO since 2014 is Stephen Landry, who comes from the same firm as Riedl.
The US challenger bank space is growing! To know who’s who and what technology they use, check out our free guide here.
…and? Is it worth or not?