"We wanted to be able to create a more affordable, transparent banking experience, and we wanted to respond to consumers' needs," she said.
"In our first year, we opened maybe 100,000 accounts. But they were not profitable. Half of them were empty, there was fraud in them, and there were experimenter accounts - nothing that was going to lead to anything substantial," Sidhu says.
"You can't just have a good mission and a good product. You need a customer acquisition strategy," she said.
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