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PNC Bank sets up a startup within the bank

PNC Bank of the United States has created a startup program within the bank. Called numo, it will function as an internal startup, complete with a pre-negotiated equity split between PNC Bank and numo employees. The first initiative of the startup has been indi, a mobile phone-based bank account for gig workers. It offers tax calculations, tax savings goals and dynamic adjustments when users save ahead or fall behind. It also reminds them when quarterly taxes are due. The account has no minimum balance and no monthly service fee. It is in testing with numo staff and has a waiting list. The indi account is an FDIC-insured account held at PNC Bank with a Visa prepaid debit card and is available for both iOS and Android.

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