New US challenger Flyp targets excluded communities
New US-based challenger bank, Flyp, is launching soon, with the aim of improving financial literacy.
The North Carolina headquartered neobank writes on its website that its goal is to help customers “get where you want in life”.
“Big banks charge big fees and exclude a large part of our community,” it states.
“We’re flypping [sic] traditional banking on its head to deliver a banking experience with all the bells and whistles and none of the fees.”
The founding team behind Flyp includes two former Wells Fargo executives.
CEO, BJ McAndrews, spent 17 years at Wells Fargo, leaving as managing director and co-head of asset-backed finance sales in January 2020.
He is described on the Flyp website as an entrepreneur and philanthropist.
Christopher Floyd, listed on the bank’s site as a founder but not yet on its LinkedIn page, spent 14 years at Wells Fargo.
He left in January 2018 as managing director and co-head of high-grade sales and trading. Floyd has since been president of broker-dealer Elefant Inc.
Flyp CTO, Gary Zukowski, spent 12 years as an enterprise architect at EasySoft Solutions, a company he founded. Zukowski also founded TweetMyJobs, a social recruting platform. He sold TweetMyJobs to CareerArc in 2011.
Interested users can sign up to a waiting list. Flyp does not note when it may launch its services. The neobank is also looking for local partners in government, churches, universities and non-profits.