Dave Confirms No Pricing Impact From Recent Plaid / JP Morgan Announcement

Rhea-AI Summary

Dave (NASDAQ:DAVE), a leading U.S. neobank, has confirmed that the recent data access agreement between Plaid and JP Morgan will not affect Dave's existing agreement or pricing structure with Plaid. CEO Jason Wilk characterized this development as a significant win for consumers who rely on fintech services like Dave to create innovative products using cash flow data.

Dave operates as a neobank and fintech pioneer, leveraging disruptive technologies to deliver premium banking services at competitive prices compared to traditional banks. The company serves millions of Americans through its digital banking platform.

Positive

• Confirmation of no pricing impact from Plaid/JP Morgan agreement maintains cost stability
• Existing partnership with Plaid remains unchanged, ensuring business continuity
• Continued ability to provide innovative fintech services using customer cash flow data

Negative

• Operates in highly competitive fintech industry with rapid technological changes
• Heavy reliance on a single bank partner poses potential business risk
• Faces extensive regulatory requirements and potential legal proceedings

Insights

Financial Technology Analyst

Dave confirms no negative impact to its business from Plaid/JP Morgan deal, preserving current pricing arrangements crucial for its fintech services.

Dave's announcement regarding the Plaid-JP Morgan agreement represents a significant clarification for investors concerned about potential disruptions to Dave's business model. As a neobank reliant on financial data access, Dave's ability to maintain its current agreement and pricing with Plaid is crucial for operational continuity.

The background context here is vital: Plaid provides the essential data connectivity infrastructure that allows fintech companies like Dave to access users' banking information (with permission) to offer services like ExtraCash. Any changes to data access agreements or pricing with major banking partners could materially impact Dave's cost structure and service capabilities.

CEO Jason Wilk's characterization of this as a "huge win for consumers" accurately reflects the importance of stable data access arrangements in the fintech ecosystem. For Dave specifically, maintaining existing terms with Plaid ensures the company can continue providing its banking services "at a fraction of the price of incumbents" without absorbing new costs that would pressure its margins.

While seemingly routine, this announcement addresses a potentially significant business risk. Any disruption to Dave's data access or increased costs from Plaid would have required operational adjustments that could impact profitability or service delivery. The confirmation of unchanged fundamentals provides important stability for Dave in a rapidly evolving fintech landscape where data access agreements between traditional banks and data aggregators remain a critical infrastructure component.

Los Angeles, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced that Plaid’s new data access agreement with JP Morgan would not impact Dave’s current agreement and pricing with Plaid.  

“Our business fundamentals remain unchanged by the new agreement; a huge win for consumers that rely on fintechs like Dave to build innovative products using their cash flow data,” said Jason Wilk, Founder and CEO of Dave. 

About Dave
Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. For more information about the Company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.

Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feels,” “believes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “remains,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, quotations of our Chief Executive Officer relating to Dave’s business fundamentals, and other statements about future events. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: the ability of Dave to compete in its highly competitive industry; the ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry; the ability of Dave to manage risks associated with providing ExtraCash; the ability of Dave to retain its current customers, acquire new customers (collectively, “Members”) and sell additional functionality and services to its Members; the ability of Dave to protect intellectual property and trade secrets; the ability of Dave to maintain the integrity of its confidential information and information systems or comply with applicable privacy and data security requirements and regulations; the primary reliance by Dave on a single bank partner; the ability of Dave to maintain or secure current and future key banking relationships and other third-party service providers, including its ability to comply with applicable requirements of such third parties; the ability of Dave to comply with extensive and evolving laws and regulations applicable to its business; changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business; the ability to attract or maintain a qualified workforce; the level of product service failures that could lead Members to use competitors’ services; investigations, claims, disputes, enforcement actions, arbitration, litigation and/or other regulatory or legal proceedings, including the Department of Justice’s lawsuit against Dave; the ability to maintain the listing of Dave Class A Common Stock on The Nasdaq Stock Market; the possibility that Dave may be adversely affected by other macroeconomic factors, including regulatory uncertainty, fluctuating interest rates, inflation, unemployment rates, consumer sentiment, market volatility and business, and/or competitive factors; and other risks and uncertainties discussed in Dave’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 4, 2025 and subsequent Quarterly Reports on Form 10-Q under the heading “Risk Factors,” filed with the SEC and other reports and documents Dave files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Dave undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
DAVE@elevate-ir.com 

Media Contact
Dan Ury
press@dave.com

FAQ

How does the Plaid-JP Morgan agreement affect Dave's (NASDAQ:DAVE) business?

The Plaid-JP Morgan agreement has no impact on Dave's current agreement or pricing with Plaid, maintaining business fundamentals unchanged.

What is Dave's (NASDAQ:DAVE) relationship with Plaid?

Dave partners with Plaid to access customer cash flow data for developing innovative fintech products and banking services.

What services does Dave (NASDAQ:DAVE) offer as a neobank?

Dave provides banking services at competitive prices using disruptive technologies, serving millions of everyday Americans.

What are the main risks facing Dave (NASDAQ:DAVE) in 2025?

Key risks include industry competition, rapid technological changes, regulatory compliance requirements, and reliance on a single bank partner.

How does Dave (NASDAQ:DAVE) maintain its competitive advantage in the neobank sector?

Dave leverages disruptive technologies to provide banking services at a fraction of traditional banks' prices while focusing on innovative product development.