Chime Financial, Inc. Class A Common Stock Goldman Sachs Communacopia + Technology Conference 2026

Thank you. Looking forward to it.

Yeah, thanks for the question and I really appreciate you having us here today. I feel really good about our position right now. If you look at the last year for Chime being a public company, we've put up great results quarter after quarter, and I think it's fair to say that we've really broken out in terms of being the leader, in terms of a trusted brand for mainstream Americans who want to manage their money with an entity that actually has their best interest. And I was really proud of the progress that we've made across a number of product initiatives. I think you can feel and see the real momentum inside the business.

One of the things we talked about going into the IPO was around the unlock that comes from owning our own core, and that was a big effort for us and a big leap to do that, but I think it's really paying dividends. Those dividends are only going to be accelerated now with the acquisition of the bank, which is one of the final pieces of the puzzle to enable us to achieve all of our goals. Taking a step back on the year, I'm really proud of the product velocity. We launched Chime Plus, we launched Chime Prime, we made great progress with our lending products and credit extension. That's obviously been a really positive line of business for us that's driving outsized growth and leading to higher RPAMs and that sort of thing. We also had some really exciting progress with our enterprise channel.

We're obviously a very well-known brand in America. Top 2 or 3 brand now on an unaided basis in terms of what brands come to mind when you think of online banking, right up there with Chase and Bank of America. So pretty rare air, and certainly I would argue punching beyond our weight. But incredible opportunity for us going forward when you think about something like Chime Prime, where we basically give people 5% cash back for their everyday spend from what is essentially their direct deposit and their checking account. I would put that up against any bank offering in America. Combine that with 3.75% cash back, which is, I'm sorry, 3.75% APY on savings. That's seven or eight times the national average.

This bundle of services is very broadly appealing, and when I think about the future, I just think there's such a great opportunity to continue to expand to broader segments beyond the core that have driven so much of our success.

Yeah. One thing that I've wanted to make sure that I was clear about just out of the gate is just how much respect we have for this management team at Stride. This is an organization that we worked with for pushing seven years now, and we have a very close relationship with that team. We're really excited for the core of that leadership team to also play an important role for us over the next few years as we work through this transition. As it relates to the strategic rationale, I've always said it's a matter of when, not if, in terms of owning a bank, right? Our ambition is to be the number one provider of checking accounts or primary accounts in America. We're now at over 10 million monthly actives. The majority of them use us as a primary bank account.

It's always to us been an inevitability that in order to achieve our ambition to be the leader in banking, we would at some point be a bank. There's a number of reasons why we thought the time was right to do it now. Obviously, there's a regulatory window that's open to some extent, and we enjoy very constructive relationships with the regulators who have supported us historically. So we anticipate the OCC and the Fed being supportive of this transaction. I'd say there's a couple reasons that really drove the movement now. The number one thing is the biggest unlock is going to be around product velocity. When you think about in the age of AI, you can create new products, new services, new experiences faster than you ever could.

But if you think about the production line of a regulated product, at a certain point, you get to that legal compliance, operations, all those sorts of reviews, which I would argue have worked really well with our bank partners. But inevitably, when you have redundant steps in the process, redundant compliance policies, we're not saying we don't want compliance or don't want legal, but we want to do it even more efficiently. I think that the most important sort of strategic rationale for this deal is to be able to move even faster. Number two, we are at a size and a scale where we need to have complete control of our destiny. So that means having full confidence and control of the resiliency of the underlying platform. We will get that combining Chime's modern technology with Stride's proven ability to scale their bank infrastructure.

I also think there's an element of trust that we're going to unlock here. So more directly connecting Chime brand and Chime app to a bank is most certainly going to unlock greater levels of trust for certain segments of the population who maybe aren't as comfortable banking through an app that has another bank that Right gives you the FDIC insurance and so forth.

They want it all from one provider. I think that's an important consideration. Then finally, just the underlying economics. We're buying this bank for 1.5 times book, which is, I think, below-precedent transactions and so forth. Look, by the time the deal closes, it'll be even more attractive than that. This is a highly profitable bank with ROE greater than 25%. It's a very well-run business. We think there's opportunities for us to get even more out of these synergies, which we can dive into if you'd like.