Through the partnership, Fintron will offer checking accounts that pay interest, free ATM withdrawals globally and online check deposits via the FinTron app, the release stated.
“We wanted to create a streamlined banking and investing experience for the mobile-first generation to help combat their fears around personal finance, and we are excited to partner with LendingClub Bank,” said FinTron Founder and CEO Wilder Rumpf in the release.
Rumpf, who is 25 years old, said in the release that FinTron picked LendingClub Bank because of its “extensive experience working with forward-thinking FinTech companies, and its mission of streamlining mobile banking to its customers.”
The Fintron app will also offer a “simulated stock trading game” and “lessons and quizzes.” Checking accounts offer mobile check deposit and FDIC-insured accounts holding up to $250,000, according to the release.
On the investing side, the company offers access to more than 600 stocks and exchange-traded funds (ETFs), real-time stock data and investing accounts insured for up to $500,000 (including up to $250,000 for cash claims), the release stated.
FinTron promotes “financial freedom for the Digital Generation through better education, affordable financial products, and socially responsible give-back programs,” according to the release.
FinTron, on its website, touts the youth of its executive ranks.
“With a founding team all under 25, FinTron employs one of the youngest teams to ever register a broker dealer,” Rumpf stated on the website. “Who better to provide a mobile-first product than the mobile gen themselves?”