Dave Announces the Appointment of Chien-Liang Chou as its New Chief Technology Officer

LOS ANGELES, Sept. 6, 2022 /PRNewswire/ -- Dave Inc. (NASDAQ:DAVE, DAVEW))), a banking app on a mission to build products that level the financial playing field, today announced that Chien-Liang Chou has been named Chief Technology Officer, effective immediately.

Mr. Chou previously served as Executive Vice President of Engineering at Dave, a position he held since 2020. In this role, he led the engineering, data, infrastructure, security and information technology teams, spearheading various data initiatives resulting in greater efficiencies and a better member experience. He has brought to Dave more than 20 years of experience developing software and technology platforms, with significant expertise in infrastructure buildouts, automation, machine learning, and more.

"Chien-Liang has been one of our greatest assets, instrumental in the buildout not only of our technology platform, but in the products and services we have been able to offer our members," stated Dave Co-founder and CEO Jason Wilk. "He continues to take on an increasingly important role and will play a big part in shaping our technology architecture going forward as we grow and scale. His dedication to Dave and the millions of members served has not gone unnoticed and I look forward to working with him and his team as we deliver the best banking and customer experience for our members."

Before joining Dave, Mr. Chou served as Vice President of Engineering with Flexport, where he managed all technology hubs both domestically and abroad, driving next-generation tech platforms to help scale their business. Previously, he served as VP, Technology with LendingClub Corporation, where he led the Loan Services Platform and Investor groups. While with LendingClub, Mr. Chou was instrumental in the buildout and implementation of cloud migration and micro-services, and the Company's next-gen platform, LendingClub 2.0. Earlier in his career, he held leadership positions and various technology roles with Stockpile, LOYAL3, Salesforce.com, and FirstRain.

"I am grateful for this opportunity and the recognition of my peers and will continue to give my all to develop the best technology platform and tools in our industry that will benefit Dave and the members we serve," stated Mr. Chou. "Our mission is what drives my team and we will continue to collaborate with all departments to ensure we have the best infrastructure in place that can support our growth, while continuing to improve the member experience."

Mr. Chou will work closely with Dave's leadership to develop and execute the long-term plan and vision for Dave's technology architecture, scaling its software and systems, and building out the Company's technology team.

Dave is a banking app on a mission to build products that level the financial playing field. Dave's financial tools, including its debit card and spending account, help millions of customers bank, budget, avoid overdraft fees, find work and build credit. For more information, visit www.dave.com.

This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," or the negative of such terms, or other comparable terminology and include, among other things, the quotations of our Chief Executive Officer and statements regarding Dave's future performance and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: the ability of Dave to compete in its highly competitive industry; the ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry; the ability of Dave to manage its growth as a public company; disruptions to Dave's operations as a result of becoming a public company; the ability of Dave to remediate material weaknesses in Dave's internal controls over financial reporting and maintain an effective system of internal control over financial reporting; the ability of Dave to protect intellectual property and trade secrets; changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business; the ability to attract or maintain a qualified workforce; level of product service failures that could lead Dave members to use competitors' services; investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings; the effects of the COVID-19 pandemic on Dave's business; the possibility that Dave may be adversely affected by other economic, business, and/or competitive factors; and those factors discussed in Dave's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 25, 2022 and subsequent Quarterly Reports on Form 10-Q under the heading "Risk Factors," filed with the SEC and other reports and documents Dave files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Dave undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

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