Step
Step is a financial services company that specializes in providing banking solutions tailored for teenagers.
Services
Step provides a range of financial services focused on empowering teenagers and young adults. The company offers banking services that include a fee-free bank account and a secured Step Visa card that helps users build credit. Step’s services are tailored to meet the financial needs of its young user base, combining modern digital banking tools with educational resources on financial literacy.
Founders
Step was founded by CJ MacDonald and Alexey Kalinichenko. CJ MacDonald has a background in startups and financial technology, while Alexey Kalinichenko is experienced in software engineering and development. Together, they have utilized their expertise to create a financial platform that caters specifically to teenagers and young adults, aiming to foster financial responsibility and literacy from a young age.
Products
Step's primary product is the Step app, which includes a fee-free bank account and a Step Visa card. The Step Visa card functions as a secured credit card, allowing users to make purchases and build credit responsibly. The app's features include instant deposits, P2P payments, savings tools, and financial education content. These products aim to provide a comprehensive financial solution for younger users.
Sector
Step operates within the financial technology sector, specifically targeting the niche market of teenagers and young adults. The company leverages technology to provide digital banking services that prioritize user-friendly interfaces and mobile accessibility. Step’s focus on this demographic addresses the gap in traditional banking services for younger users, offering tools that promote financial independence and literacy.