If approved, Sezzle Bank would offer FDIC-insured deposit accounts, checking and savings accounts, and credit products. Sezzle Bank would focus on digitally native consumers, including those new to credit and who tend to avoid using traditional products such as credit cards.
“Applying for a national bank charter reflects our commitment to operating under the highest standards of federal oversight,” Charlie Youakim, Sezzle’s executive chairman and CEO, said in a press release. “A charter would allow us to offer a broader set of banking products to people who prefer BNPL and digitally native banking products, with the same federal supervision that applies to every national bank.”