Green Dot Corporation

Good day and welcome to the Green Dot Corp fourth quarter 2023 conference call. All participants will be in a listen-only mode. Should you need assistance, please signal conference specialists by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone, and to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Mr. Tim Willey, Senior Vice President, Finance, Please go ahead, sir.

Thank you, and good afternoon, everyone. Today, we are discussing Green Dot's fourth quarter 2023 financial and operating results. Following our remarks, we'll open the call for your questions. Our most recent earnings release that accompanies this call and webcast can be found at ir.greendot.com. As a reminder, our comments may include forward-looking statements and expectations regarding future results and performance. Please refer to the cautionary language in the earnings release and in Green Dot's filings with the Securities and Exchange Commission, including our most recent form 10-K and 10-Q, for additional information concerning factors that could cause actual results to differ materially from the forward-looking statements. During the call, we will refer to our financial measures that do not conform with generally accepted accounting principles. For the sake of clarity, unless otherwise noted, All numbers we talk about today will be on a non-GAAP basis. Information may be calculated differently than similar non-GAAP data presented by other companies. Quantitative reconciliation of our non-GAAP financial information through the directly comparable GAAP financial information appears in today's press release. The content of this call is property of the Green Dot Corporation and is subject to copyright protection. Now, I'd like to turn the call over to George.

Good afternoon, and thank you for joining our call. I will make some brief comments regarding the proposed consent order we disclosed in our earnings release and my thoughts on 2023 before handing it over to Jess, who will walk through our fourth quarter results and provide our guidance for 2024. I will then spend some time discussing our business and strategy. We have a lot to cover, so let's get started. You will have noted we are in receipt for proposed consent order from our primary federal regulator, the Federal Reserve. This proposed order relates to matters arising as long ago as 2017 under management in place at that time. And we are very pleased to soon bring these matters to conclusion. I will make some additional comments on this topic in a few minutes. 2023 was a challenging year, but not without its accomplishments. We completed our processor conversion and are beginning to realize the anticipated savings, and after spending years preparing for and executing this conversion, the team is now focused on other growth-centric initiatives. We successfully onboarded several new partners in our BAS channel, including Ceridian, now Dayforce, and announced the signing of PLS, which is a significant win in the Financial Service Center vertical within our retail channel. PLS will launch in the first half of 2024. Our business development efforts are gaining momentum and pipelines continue to grow. We have made significant progress integrating disparate processes and procedures, launching new technologies across fraud disputes and project management and generally improving business and regulatory controls. Finally, the processor conversion and other savings initiatives resulted in cost reductions and efficiencies across the company. It was a busy year and we made a lot of progress. Jess will detail our forward guidance in a few moments, but we believe we are on the cusp of returning to account growth in the back half of 2024. For the most part, we will have lapped lost partner revenue and impacts of sunsetting various brands by mid-year. We will launch new partners and see growth from GoToBank and other product features, and we will see meaningful benefits from other cost management efforts. All of this combined gives us good reason to be optimistic as we exit 2024 and head into 2025. With that, I'll turn it over to Jess to discuss our results. Jess?