Walmart-backed fintech to test banking services in coming weeks - sources


By Lananh Nguyen and Siddharth Cavale, Reuters

September 14, 2022


Sept 14 (Reuters) - One, a fintech company backed by Walmart Inc , will introduce checking accounts to thousands of Walmart employees and a small percentage of its online customers for beta testing in the coming weeks, two people familiar with the matter said.


The fintech aims to make the accounts available to Walmart's 1.6 million employees within a year before rolling out services more broadly, the people said. It also hopes to expand its offerings to loans and investments.


Bloomberg News earlier reported on the plans. Walmart declined to comment.


Omer Ismail, One's chief executive officer, joined the company last year after almost two decades at Goldman Sachs (GS.N) and leading the Wall Street giant's consumer-banking business, Marcus.


One's banking services are underpinned by...