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Full-Time

Engineering Manager

Product

Updated on 9/11/2024

ONE Finance

ONE Finance

501-1,000 employees

Digital banking platform with high-yield savings

Fintech

Compensation Overview

$175k - $230kAnnually

Senior, Expert

United States

Category
Engineering Management
Product Engineering Management
Required Skills
Communications
Requirements
  • Mid Career (5-10 Years) with at least 2 years leading or directly managing engineers.
  • An act-like-an-owner mentality. We have a bias toward taking action.
  • Deep understanding of distributed system design patterns and hands-on experience developing internet applications.
  • Experience managing applications in a production environment that supports high availability, resilience, and low latency at scale; exposure to managing production outages and remediations.
  • Strong verbal and written communication skills.
  • The ability to decipher “wants” versus “needs” and negotiate prioritization accordingly.
Responsibilities
  • Manage full-stack delivery team.
  • Take ownership of the architectural design and technical direction of projects.
  • Motivate, engage, coach and provide leadership to a team of highly-skilled and remotely distributed software engineers.
  • Partner with technical and business leaders to plan, prioritize and execute our product roadmap.
  • Drive the adoption of key engineering best practices to improve the quality and reliability of the team's deliverables.
  • Actively participate in the coding process, contributing to key projects and initiatives.

One Finance provides a digital banking platform through its mobile app, allowing users to manage their finances easily. The app offers a debit Mastercard® and is designed for both individuals and small businesses seeking a convenient way to handle their money. By partnering with Coastal Community Bank, One Finance offers a high-yield savings account with an Annual Percentage Yield (APY) of up to 5.00% on balances up to $250,000, which is significantly higher than typical savings accounts. The company generates revenue primarily through interchange fees when customers use their debit card for purchases. Additional features include early direct deposit, cash back rewards at Walmart, instant money transfers, and overdraft protection. One Finance aims to provide cost-effective financial solutions that help customers grow their savings and manage their finances without the burden of monthly fees.

Company Stage

M&A

Total Funding

$66.7M

Headquarters

New York City, New York

Founded

2022

Growth & Insights
Headcount

6 month growth

19%

1 year growth

80%

2 year growth

221%
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Simplify's Take

What believers are saying

  • The potential launch of a BNPL service backed by Walmart could significantly expand ONE Finance's product offerings and customer base.
  • High APY on savings accounts can attract a large number of customers looking for better returns on their deposits.
  • The backing and majority ownership by Walmart provide financial stability and a strong market presence.

What critics are saying

  • The fintech market is highly competitive, with numerous players offering similar services, which could impact customer acquisition and retention.
  • Reliance on interchange fees for revenue may be vulnerable to regulatory changes and market fluctuations.

What makes ONE Finance unique

  • ONE Finance offers a high-yield savings account with an APY of up to 5.00%, significantly higher than the industry average.
  • The partnership with Coastal Community Bank allows ONE Finance to provide banking services without being a bank itself, reducing regulatory burdens.
  • The integration of features like early direct deposit, cash back at Walmart, and overdraft protection makes ONE Finance a comprehensive financial solution.