In addition, while many banks rely on fees, Chime’s revenue model centers on transactions and member usage, aligning profits with member success. Chime’s core mission is to enhance accessibility, transparency and fairness in financial services, particularly for the over 60% of Americans living paycheck-to-paycheck, often underserved by traditional banks.

“I want to build one of the country’s most iconic community-powered brands,” said Mehra, who added that Chime relies more on its community to build its brand, which has led to a referral rate five times higher than any bank. “Our community is so important because they trust us because we’ve had their backs right from the very beginning.”

More community and innovation, fewer actors

The community drives Chime’s activity. With three times more Instagram followers than Chase or Bank of America, Mehra said that Chime has a community that wants to power the brand. And those community members have a stronger pull than most celebrities or actors.

“I have a rule that no more than 20% of our ads can have actors in them. So the vast majority of what we do in the world are actually our members participating with us because they want to. We get tons of emails, ‘Can I be in your next commercials?’ It’s a really powerful thing,” said Mehra.

Chime, with innovation at its core, wants a fresh perspective from AKQA to make its marketing efforts even more innovative. The agency will work with Chime’s in-house creative team in partnership. There was no formal pitch for the business, but the brand did bring in several companies before AKQA was chosen. Chime works with a wide roster of partners, vendors and agencies, including Barrett Hofherr, depending on the brand’s needs.

The AKQA collaboration will lead to new work being released later this year or early next year.

Aragones said that she hopes the partnership will not only raise awareness for Chime, but will make a difference in the industry.

“In talking about the products and services, we’re also hoping together to make a bigger impact for society as a whole,” said Aragones.

Mehra said that Chime and AKQA have an opportunity to build upon a brand that continues to rise.

“What AKQA is coming in on is a brand and a product that’s already extremely successful, so this is about taking us to the next level, taking our brand to the next level, and really taking this opportunity to build a once-in-a-generation brand that revolutionizes and democratizes how people manage their money and doing this in a fair way and helping people progress with their financial future,” said Mehra.