LOS ANGELES, February 13, 2024 - Dave Inc. (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced it has become the newest member of the American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks. Dave joins a diverse group of AFC members to progress fintech innovation, focusing on creating inclusive digital banking services and products for consumers not well-served by incumbent banks.

“Our members are setting the standard for the responsible use of innovation to increase competition in financial services that improves access for families long forgotten by traditional financial institutions,” said Phil Goldfeder, CEO of the American Fintech Council. “Dave is leading by example and democratizing financial services by creating fair, transparent and equitable services. Their team will add an important voice to our growing chorus of members focused on inclusion and responsible innovation for the future of finance.”

“Dave is proud to join an association that prioritizes financial inclusion and responsible banking as more Americans turn to digital banks for seamless experiences, financial education, and innovative products,” said Jason Wilk, CEO and founder of Dave. “Fintech was born out of the realization that traditional banking was not keeping pace with the needs of the American consumer. By uniting our efforts with the AFC’s growing network of innovators, we envision a positive future for accessible financial solutions in fintech.”

As a member of the AFC, Dave plans to be an essential voice in support of regulators’ development of transparent and consistent frameworks for the fintech industry, as digital banking gains momentum. Dave looks forward to advancing the dialogue on access to banking and short-term credit, inclusive finance, and regulatory compliance. Since 2016, Dave has been a leader in providing short-term liquidity to consumers to cover expenses between paychecks. Dave enables a comprehensive and accessible banking experience regardless of a person’s income, on its mission to level the financial playing field.

AFC collaborates with policymakers and regulators to develop unified and consistent approaches to regulation. They encourage the development of a modern regulatory framework that creates access to financial services without compromising on compliance or consumer protection. AFC consistently advocates on issues that are crucial to developing a more inclusive financial services industry, including improved data sharing and the development of an open banking ecosystem, as well as the expansion of innovation efforts that allow consumers to live their best financial lives.