Three years ago, we wrote about data being the most valuable asset banks had to strengthen customer relationships. We pointed to Chime — not a bank, but certainly banking-adjacent — as the canary in the coal mine. While community banks were untangling month-end reports, Chime was out-acquiring the rest of the industry. Not because of its charter, but because of its customer data and insights. Fast forward to June 2025: Chime IPOs at an $11.6 billion valuation. Their revenue climbed to $1.67 billion in 2024. Losses tightened. Products expanded. Customers? Still signing up by the millions. And they did it without a banking license. Let that sink in. Not a bank…but pretty good at “banking” Chime’s filing made many things apparent, one being that the company isn’t just serving lower-income customers anymore. It’s now targeting customers earning under $200,000 — the same future customer base community banks count on to be a high-net-worth or even ultra-high-net-worth customer...