Green Dot now issuing prepaid cards via Green Dot Bank
Monrovia, Calif., June 28, 2012 -- Green Dot Corporation GDOT -1.48% , has completed a key milestone related to its acquisition of Bonneville Bank, renamed Green Dot Bank.
Approximately six months after closing on this acquisition, Green Dot successfully completed a highly complex enterprise-wide integration project to facilitate the issuance of the Company's suite of MasterCard and Visa prepaid debit card products from its own bank. Issuance of the first cards from Green Dot Bank began earlier this month.
"For those who understand the operational complexity of retail banking and technology, the difficulty of such an integration project is well known," said Steve Streit, Chairman and CEO, Green Dot Corporation. "I'm pleased with our on-time completion of this milestone project and am very proud of our team leaders throughout the Green Dot organization who worked to create this achievement."
About Green Dot
Green Dot is a publicly traded GDOT -1.48% bank holding company regulated by the Board of Governors of the Federal Reserve System. The Company provides widely distributed, low cost banking and payment solutions to a broad base of U.S. consumers. Green Dot's products and services include its market leading category of General Purpose Reloadable (GPR) prepaid cards and its industry-leading cash transfer network which are available directly to consumers online and through a network of approximately 60,000 retail stores nationwide where 95% of Americans shop. Green Dot is headquartered in the greater Los Angeles area. For more details, visit www.greendot.com .
Source: Company press release.