• Contact
  • Feedback
Banking Day
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

Social media banking chump make strides in US market

24 January 2017 5:11PM
An ASX listed but US-centric "digital banking platform" is spruiking small steps, and massive plans, in the vast American retail banking market.With origins in Brisbane but based in Los Angeles, ChimpChange yesterday set out data in a roadshow on inroads among its millennial target market.ChimpChange put customer acquisition via Facebook during the month of December at 55 per cent and Instagram at 14 per cent.It said customer numbers exceeded 45,000 at the end of December 2016, roughly double the level in September and more than four times the level at the time of its IPO and listing in July.Customers sign up via the ChimpChange app (one out of reach of curious Australian investors) and also receive a pre-paid MasterCard debt card. Deposits are held by Central Bank of Kansas City, though in aggregate these are small beer at around US$5 million.An investor presentation yesterday set out a "medium-term target", by 2018, to multiply gross revenue 50-fold to US$14 million from its present level of US$340,000.

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use