Fintech companies offer banking products or services, but they aren't banks. A fintech company isn't directly insured by a government agency, like the Federal Deposit Insurance Corporation. Online platforms are still safe, though, if their accounts are federally insured through a partner bank. Chime is a fintech platform, while Varo is an online bank. Chime's accounts are provided by its two partner banks, Bancorp Bank or Stride Bank, N.A., which are federally insured financial institutions.