Prepaid card issuer Green Dot Corp. has launched a unit called Green Dot Shanghai Software Technology Co. in Shanghai, China.
The new facility will serve as a software development center focused on the company's U.S. branchless banking platform, GoBank.
The new 24,000 square-foot development is in the Zhangjiang Hi Technology Park in Shanghai's Pudong district. The infrastructure and efficiency it will provide will be integral to its long-term productivity, Green Dot said in a July 14 press release.
"We believe that the future of financial services belongs to those institutions that are tech-centric in their vision and tech-savvy in how they execute that vision," Kuan Archer, COO of Green Dot Corp. and executive director of Green Dot Shanghai, said in the release.
Green Dot, launched the mobile consumer checking account offering in 2013 to diversify its offerings beyond prepaid. The Shanghai office is the company's first international expansion of its technology facilities, which also reside in Florida and California, where Green Dot is based.