Current

History

Current launched with a focus on fee-transparent mobile banking and later emphasised early direct-deposit payday and household accounts that let parents supervise teens' spending. Growth has been concentrated among younger US consumers.

Founders

Stuart Sopp is co-founder and chief executive officer of Current, the New York-based American neobank. A former Wall Street trader with experience across multiple global institutions, Sopp co-founded Current in 2015 to rebuild mobile banking for consumers he believed traditional banks underserved—especially younger households. He has emphasised owning core banking technology rather than renting every layer of the stack.

Trevor Marshall is co-founder and chief technology officer. Marshall partnered with Sopp to design Current's product and infrastructure, including early work on proprietary core systems used for spending accounts, early payday, rewards and family/teen banking supervised by parents.

Business model

Current operates as a partner-bank neobank: it owns the consumer app and brand while chartered banks hold deposits and provide FDIC insurance. Revenue typically comes from interchange, premium features and credit-adjacent products. The company has invested in proprietary core technology to differentiate from peers that outsource more of the stack.

Reception

Current competes with Chime and Varo for younger U.S. customers seeking early payday, low fees and family accounts. Press coverage emphasises Gen Z adoption and the build-vs-buy debate in neobank infrastructure.

Products

Products include a spending account with debit card, savings goals, overdraft advances, rewards and multi-account family setups. Deposits are held at partner banks with federal deposit insurance.