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Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said.
In a LinkedIn post, the bank's HR chief cited compliance with a White House executive order. Employees who submit proof of vaccination by Dec. 8 will receive $200. Others have until Jan. 14 to get the jab, the bank said.
The bank's digital user interactions trail JPMorgan and Bank of America. But Wells last year brought onboard an executive who helped develop BofA's Erica.
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CEO Dan Henry said he is confident Green Dot's partnerships with select retailers that are expanding help it fulfill a need for a demographic that still relies heavily on cash.
Jelena McWilliams shared details about the interagency "crypto sprint" involving the FDIC, the OCC and the Fed, and said the agencies plan to issue a series of policy statements in the coming months.
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