Clair Partners with MetaBank and Galileo to Expand Digital Banking Services

On May 18, 2021, Clair announced partnerships with MetaBank and Galileo to expand its digital banking services targeting hourly and gig economy workers. MetaBank acts as the issuing bank and services provider, offering FDIC-insured deposit accounts through the Clair platform. Galileo serves as the payments processor, powering the underlying transaction infrastructure to enhance the user experience.

The combined offering provides accounts with no monthly fees, no inactivity fees, and no overdraft fees, along with integrated savings and financial planning tools. The partnership is designed to increase financial inclusion for underbanked workers who often lack access to traditional banking products. Financial terms of the partnerships were not disclosed.

The arrangement follows the classic BaaS model, with MetaBank providing the banking charter and regulatory framework while Clair delivers the consumer-facing product and Galileo enables the payments layer.