How did Chime view the competitive landscape between itself and SoFi, given SoFi's strong focus on student loans?

Probably. I think they targeted more that higher-income market. It was also really smart for them to acquire Galileo. 

It was very expensive for them, but they basically got a piece of this underlying banking tech that everyone else is using. 

It’s also interesting just to see how a lot of other competitors or even other third-party integrations have been trying to sneak more and more into the space. Plaid makes a lot of really interesting tools that all these banks are using because it basically is much easier and more straightforward to send all the information around through these APIs that are just permissioned about who can access what.

There’s definitely a rise in API-focused fintech companies that are helping solve various of these pain points—like Atomic, which basically are a company that basically just helps folks direct deposit more easily. For a while, I think Chime was using them as a processor—they were the ones handling our direct payments or direct deposits for certain customers, just because it's easier and it wants to do it internally if you can find a tool that'll do it for you. That’s the name of the game these days. Fintech's a little bit more modular, so everyone's in their little lane and you're buying the pieces to make your product work.