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Stock impact report

Robinhood to launch banking product [Yahoo! Finance]

Coastal Financial Corporation (CCB) 
Last coastal financial corporation earnings: 4/27 09:25 am Check Earnings Report
Company Research Source: Yahoo! Finance
Stock trading platform Robinhood seeks to dive deeper into financial services with the launch of a banking product later this year. Robinhood Banking, set to be rolled out this fall, will offer checking and savings accounts for its gold members featuring services that aim to solve some of the challenges with legacy bank accounts, said Deepak Rao, vice president and general manager of Robinhood Money. “We want to have the full wallet share with customers,” Rao told Banking Dive, “but we wanted to do it in our style and make sure that we build something that's no longer reserved for ultra-wealthy individuals.” While announcing the banking product last week, Vlad Tenev, chairman and CEO of Robinhood, also said the firm is adding two other new features, Robinhood Strategies and Cortex. Strategies is an advanced investing service that offers expert-managed goal-aligned portfolios and personalized insights with a cost cap of $250 per year for gold members and no management fees on Show less Read more
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