Starion Bank Targets New Depositors Through Gig Economy Program

DoorDash drivers, commonly referred to as “dashers,” are classic gig workers. They work flexible hours without a regular paycheck, earning their dollars every time they make a delivery of food or convenience items.

Thanks to a fintech program from $2.2 billion-asset Starion Bank called “Delivering Embedded Finance to Contract Workers,” dashers can now access their pay immediately after making a delivery and enjoy other benefits of being Starion depositors.

“Within minutes of making that drive, they are paid and can be out doing whatever they need to do with those funds,” says Craig Larson, CEO of the Bismarck, North Dakota, community bank. “This is a very safe, secure, trusted way for them to be paid for their driving.”

A different kind of faster payment

Launched in October 2024, the Delivering Embedded Finance to Contract Workers program has already generated a notable increase in new deposit accounts for Starion. According to Larson, “This is a meaningful lift in our deposit base.”

Payments are processed instantly through the DoorDash Crimson Visa Debit Card, which is embedded in the DoorDash driver’s app. The rapid payment itself is just one benefit of the program. Participants also receive a full-featured deposit account at Starion Bank, including the ability to make payments or transfer funds directly within the DoorDash app. 

Further benefits include cashback at gas and electric charging stations, fee-free cash withdrawals through MoneyPass ATMs, and discounts at a handful of merchants, including Jiffy Lube and Shell.

The concept for this program began percolating at Starion nearly three years ago, according to Larson. The community bank was seeking new ways to serve customers and position itself for the future. Gig workers—a relatively new and underbanked category of worker—seemed like a workforce segment that could benefit from this kind of solution.

Mutually beneficial partnership

To bring this vision to life, Starion needed a partner to connect with gig workers. By working with its existing partners, Starion was introduced to DoorDash—which has seen more than 13 million individuals drive for the platform between 2013 and 2023. DoorDash drivers have multiple payout options, including daily and weekly payments, but drivers must actively enroll in the Crimson Visa Debit Card program to access its benefits. 

“DoorDash has done a great job connecting with their drivers and showing them the value of this program,” Larson says, adding that the bank gets approval on the marketing messages. 

“They’ve proven to be an amazingly good partner,” he adds. “They’re a very forward-looking and innovative organization.”

Optimize first, expand later

The dashers who opt into the Crimson Visa Debit Card program may potentially access additional Starion depositor benefits and features in the future. However, Starion is currently concentrating on optimizing the debit card offering.

 “This is a big new adventure for us,” says Larson, “and before we become focused on the next opportunity, we have made the promise to ourselves and our partners that we’re going to keep our eyes on this debit card program. And that alone is a substantial win for us.”

The growth of the program has prompted Starion Bank to envision growing its physical footprint, Larson adds. For example, if the bank gained a critical mass of customers in a particular state outside of North Dakota and Wisconsin, where it currently has branches, that could trigger a discussion of opening a physical location there.

It’s also feasible that the bank could eventually expand the program to other gig worker platforms. “Given the scale of this program, and the impact that we’re having on so many people, certainly this will open doors for other opportunities like this,” Larson says.

Community bank adaptability

Of course, the impact of the program on Starion Bank itself is also noteworthy. 

“We’ve done a couple of modest acquisitions along the way, but primarily we’ve grown to $2 billion in assets one customer at a time,” Larson says. “So, we certainly had a growth history and would continue to grow, but this program really accelerates that growth trajectory.”

Gig workers, a large and often underserved customer base, may not all be familiar or comfortable with traditional banking. By offering them financial services through an app they already use for work, Starion Bank and DoorDash have introduced an innovative solution tailored to their needs.

“We’re really proud of this, and it proves that innovation can come from anywhere, even a family-owned, community-focused bank in North Dakota,” Larson says. “I would call this a national win that really comes from our local strength as a community bank that is providing services not just for today, but for the future as well.”