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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Property data innovator Chimney announced a new collaboration with digital banking solutions provider Jack Henry.
The collaboration will make Chimney’s product suite available on Jack Henry’s digital banking platform.
Chimney won Best of Show at FinovateFall 2023 in New York. Previously known as Signal Intent, the company also won Best of Show at our online FinovateSpring conference in 2021.
A collaboration between property data innovator Chimney and Jack Henry will help financial institutions empower their homeowners with actionable advice about their home value, home equity, borrowing power, and more. That’s because Chimney has made its product suite, including its latest offering Chimney Home, available via Jack Henry’s digital banking platform.
Chimney’s embedded financial tools enable banks and other financial institutions to engage more account holders digitally, generate more deposits, and fund more loans by leveraging intelligent recommendations to guide customers to the products that are most appropriate for them. Chimney Home, the company’s latest product, gives homeowners actionable information about the value of their home, potential borrowing power, and the availability of pre-qualified offers — all embedded within the bank’s digital channels.
“For many years, financial institutions have lacked the resources needed to personalize product recommendations for homeowners,” Chimney Co-Founder and CEO Matthew Covi said. “At the same time, getting approved for a home equity loan is a big feat, sometimes taking months and causing frustrations for many consumers. That’s why we created Chimney Home.”
Among the financial institutions currently using Chimney’s tools via Jack Henry’s digital banking platform is Financial Plus Credit Union. The technology will help the institution better serve members who are homeowners with the data they need to maximize their home’s value and equity. Chimney’s offering also replaces the credit union’s previous, more cumbersome cross-departmental strategy in favor of an omni-channel approach that makes access easier for homeowners and the process more efficient for the credit union’s mortgage services team.
“By combining financial health data and blending it with a homeowner’s property data, we’re empowering financial institutions to make more personalized loan recommendations in the fiercely competitive home equity space and allow account holders to take action on those recommendations right within their digital banking app,” Covi said.
Jack Henry first demoed its technology on the Finovate stage at FinovateFall 2010. Today, the Monett, Missouri-based company provides banks and credit unions with an ecosystem of modern technology solutions developed internally as well as the ability to integrate with leading fintechs. Founded in 1976, Jack Henry is a publicly traded company on the NASDAQ under the ticker JKHY. The company has a market capitalization of $13 billion.
TrueLayer secured an additional $50 million in funding, bringing its Series E round total to $180 million.
TrueLayer’s valuation has dropped to $700 million from its peak of $1 billion in 2021.
Despite the downround, TrueLayer remains optimistic about its future, stating its intentions to work toward profitability.
Open banking platform TrueLayer is proving that it is not just AI companies that are receiving VC investor attention. The London-based company recently received a $50 million extension of its $130 million Series E round.
Today’s follow-on round was led by existing investor Northzone with contributions from Tencent Holdings, Tiger Global, Temasek Holdings, and Stripe. According to Bloomberg, the recent round reportedly values TrueLayer at $700 million, which is notably lower than the $1 billion valuation the company received during its 2021 Series E round.
Despite TrueLayer’s recent raise being a downround—reflecting a valuation drop of $300 million—this trend has been common across the fintech sector in recent years. TrueLayer remains optimistic, viewing the new funding as a vote of confidence in its future growth and ability to achieve profitability. “Separately to this fundraise, we have taken important steps to chart our path toward profitability. This funding is yet another vote of confidence in our company, our technology,” said TrueLayer CEO Francesco Simoneschi.
Founded in 2016, TrueLayer offers an open banking payments network that processes $40 billion across 120 million transactions annually. The company has 10 million users located among 21 European countries. In addition to its payments and payouts products, TrueLayer also offers Signup+, a streamlined onboarding tool, and VRP, its variable recurring payments tool.
TrueLayer appointed its first Chief Strategy Officer, Lisa Scott, earlier this year. The company has raised a total of $321 million. Francesco Simoneschi is Co-founder and CEO.
TrueLayer, which counts Revolut, Coinbase, and Robinhood among its clients, is well-known for facilitating pay-by-bank transactions. Pay-by-bank has seen increased interest among merchants, as they have multiple benefits in comparison to credit card payments. The benefits include fewer fees, faster settlement, and reduced chargebacks. While there has been some movement in pay-by-bank usage in the U.S., pay-by-bank has seen more growth in Europe where open banking is regulated and consumers don’t rely on credit cards as much.
As October gets underway in earnest, Finovate’s Fintech Rundown shares news of expedited payments to help those impacted by hurricane Helene, another partnership to help new Canadians secure credit, as well as a major investment in cross-border payments and a big acquisition in the fraud prevention space.
Be sure to check back all week long for more fintech news and updates!
Tyfone has partnered with FinGoal to deliver personalized banking solutions.
Tyfone will leverage FinGoal’s Insight Platform to help its clients transform transaction data into detailed personas and next-best actions for users.
FinGoal’s Next Best Actions has already been adopted by a portion of Tyfone’s clients, and more plan to join soon.
Digital banking solutions provider Tyfone has teamed up with FinGoal this week to help banks deliver personalized products and tools to account holders.
Tyfone will leverage FinGoal’s Insight Platform that turns transaction data into detailed personas and offers next-best actions for each account holder. Specifically, Tyfone clients will have greater access to FinGoal’s Next Best Actions, a tool that increases conversion rates, lifetime value, and engagement. Currently, a portion of Tyfone’s client base is already using Next Best Actions, and more plan to join soon.
Showcased at FinovateSpring 2023, FinGoal’s Next Best Actions can help increase conversion rates, lifetime value, and engagement across digital banking solutions by leveraging digital banking and personal financial data. With that data, FinGoal’s clients can better understand users and provide actionable insights.
“Today’s account holders want more than just banking—they’re looking for personalized insights and a seamless experience that helps them make better financial decisions,” said Tyfone Director of Strategic Partnerships Jared Kopelman. “By integrating FinGoal into our platform, we’re equipping our clients with powerful tools like transaction cleansing and categorization and clear merchant logos. This partnership empowers financial institutions to deliver a more intuitive and tailored experience that helps institutions better understand its customers and deepen relationships.”
Tyfone was founded in 2004 and provides digital banking and payment solutions. The Oregon-based company’s digital banking solution, nFinia, is an enterprise solution that allows CFIs to deliver a hyper-personalized digital banking experience to both retail and commercial customers. The configurable solution offers more than 300 financial functions and provides an open ecosystem with direct integrations with more than 160 players.
Headquartered in Colorado, FinGoal was founded in 2018. In addition to its personalized offers technology, the company offers transaction enrichment and account aggregation and verification tools.
“The better an institution knows its users, the better it can serve those users,” said FinGoal CEO David Nohe. “Tyfone is known for its modern and sophisticated banking solution, and this partnership gives banks and credit unions a modern platform with actionable insights to power better engagement. FinGoal will arm our joint clients with data analytics and enhanced user experience.”
This week’s edition of Finovate Global features recent fintech news and headlines from the Netherlands.
Netherlands-based digital banking platform Plumerysecured $3.3 million in funding this week. The investment came from of early-stage investor DN Capital and Fontes, managed by international VC firm QED Investors, and raises the company’s total funding to date to $7.8 million. Plumery added that it is preparing for a larger Series A round next year.
“Our commitment to product excellence and expansion into key markets (are) central to our roadmap, and this funding will propel us even further,” Plumery Founder and CEO Ben Goldin said. “We look forward to working with our partners in this next phase of our evolution and sustained growth in today’s competitive market.”
Plumery will put its new capital to work in a variety of ways. The company plans to expand its sales and marketing efforts, bolster international partner management, and enhance its platform’s capabilities for SMEs, consumers, lenders, and microfinance companies. Plumery will also look to add talent, particularly in product, engineering, and commercial roles.
Founded in 2022, Plumery offers a digital banking platform that enables businesses to rapidly customize and deploy their banking operations. The firm’s platform enables mobile and online banking interfaces and experiences to be built on top of legacy core platforms at a lower cost and at up to 80% faster than traditional methods. In its funding statement, the company noted that it plans to launch additional features including conversational banking and AI-driven automation and insights as part of its expansion plans.
It’s hard to imagine a Finovate Global look at fintech in the Netherlands that didn’t include a nod to Engagement Banking Platform Backbase. Especially upon hearing news that the company has moved to new headquarters in Amsterdam.
This week, Backbase celebrated the grand opening of its 5,000 square-meter, international headquarters at Oosterdoksstraat 114. Backbase CEO and Founder Jouk Pleiter said in a statement that the new HQ was “more than just a building,” noting that “it represents the outcome of a 20-year journey fueled by entrepreneurship, perseverance, and focus on innovation and customer success — all driven by our people.”
And at a time when many companies are struggling to encourage workers to spend more time in the office, it is hard not to be touched by the comments of Carolien Roos, partner at Firm Architects and designer of Backbase’s new headquarters. “Our vision was to create a space that not only inspires innovation but also brings people together,” Roos said. “The design encourages the kind of serendipitous encounters and discussions that often lead to groundbreaking ideas — a key ingredient in Backbase’s recipe for success.”
Backbase has been putting that recipe to good use of late. Also this week, the company announced that it was teaming up with business identity platform, and fellow Finovate alum, Middesk to enhance KYB verification for both banks and credit unions. Backbase’s Engagement Banking Platform, integrated with Middesk, will give financial institutions access to real-time verification data sourced from multiple databases including the offices of all fifty Secretaries of State, the IRS, the USPS, OFAC, and more.
“Businesses today want a seamless verification process that meets compliance standards while limiting delays during the onboarding process,” Backbase VP of Product Robert Soetens said. “Together with Middesk, Backbase is continuing to implement modern, flexible, scalable, and API-first solutions (for) banks and credit unions, helping them deliver the best-in-class digital experiences to their business clients.”
Headquartered in San Francisco and founded in 2019, Middesk made its Finovate debut at FinovateFall 2022. At the conference, the company demoed its Verification solution that provides a complete and accurate view of customers — from entity names to watchlist screening. Middesk counts Affirm, Brex, and fellow Finovate alums Plaid and Gusto among its customers. Kyle Mack is CEO and Co-Founder.
In addition to forging new partnerships, Backbase launched its Intelligence Fabric Layer last week. The new offering is a set of data/AI infrastructure and development capabilities that embed natively in the Enterprise Banking Platform. These capabilities, which include Agentic AI, help banks realize “significant productivity gains” in both customer servicing and sales. The Intelligence Fabric leverages Backbase’s Grand Central Integration Platform-as-a-Service, which unifies data from multiple sources, including core banking systems, payment gateways, fintechs, and non-fintech systems such as CRMs.
“We see a future where AI Agents will work autonomously in the background, handling tasks, managing processes, and collaborating with customers and employees,” Pleiter said. “The adoption and evolution of these new-gen, super-powerful agents will dramatically reduce internal and external labor spend on overheads such as sales, marketing, customer service, and compliance operations.”
A Finovate alum since 2009, Backbase most recently demoed its technology at FinovateFall in 2021. The four-time Finovate Best of Show winner was founded in 2003 and counts more than 150 financial institutions around the world as users of its Engagement Banking Platform.
For more on Agentic AI, check out our primer from Senior Research Analyst Julie Muhn.
Finovate has been happy to introduce our audiences to a number of fintech innovators based in the Netherlands over the last decade-plus. Check out this roster of Dutch fintechs that have demoed their innovations on the Finovate stage.
Indian neobank Jupiter is reportedly in talks to acquire a stake in SBM Bank India, according to TechCrunch.
Latin America and the Caribbean
Binance secured Virtual Asset Service Provider (VASP) license to operate in Argentina.
Trinidad and Tobago inked an agreement with NPCI International Payments to build a real-time payments system based on India’s UPI.
Paysendpartnered with Mastercard to launch Paysend Libre in Mexico to promote financial inclusion.
Asia-Pacific
Malaysia’s Maybank partnered with China’s Bank of Hangzhou to enhance cross-border financing and innovation in AI.
Worldline teamed up with Bank of China Hong Kong to launch an open platform card solution for customers in Hong Kong.
A coalition of banks and other financial institutions in Malaysia have launched a new, integrated platform, the National Fraud Portal (NFP), to fortify the capabilities of the country’s National Scam Response Centre (NSRC).
Sub-Saharan Africa
Kazang Pay launched its card acceptance solution for merchants in Zambia.
African payment infrastructure company Fincra secured a Third Party Payment Provider (TPPP) license in South Africa.
How can companies take advantage of the opportunity of AI to grow revenues, help develop new products, and better engage customers? Our latest Streamly interview features Chris Brown, President of Intelygenz, who shares strategies for businesses to effectively implement AI.
In this interview, conducted by Finovate Senior Research Analyst Julie Muhn, Brown talks about Intelygenz’s engagement models that quickly deliver measurable ROI. Brown also discusses Intelygenz’s “Day Zero” promise, successful use cases in financial services, and explains what the metrics for success are when it comes to AI projects.
“There are a few things actually that I think organizations can do: I think the first thing is try and get yourself out of the AI buzzword, out of that AI hype, and really try to understand where you can apply AI within your business. Try and cross match your strategy, your challenges to the art of the possible of AI.”
“Don’t get hung up and leave that technical jargon. Leave all those hype words to the machine learning engineers and data scientists. Really focus on ‘What are the challenges I’m facing in my industry?’ ‘What will make a difference to my business?’ And if you do that, I can promise people from our vantage point that over many years you will put yourself in a really good position.”
Headquartered in San Francisco, California and founded in 2002, Intelygenz provides expert AI consultancy and implementation services. Specializing in AI, Deep Learning, Computer Vision, and other enabling technologies, Intelygenz guides businesses and organizations through their AI journeys – from conceptualization to implementation.
Identity verification solution and infrastructure company IDVerse announced a partnership with Hastings Direct Loans.
The U.K.-based lender will leverage IDVerse’s technology to enhance the accuracy and reliability of its identity verification process.
IDVerse, as OCR Labs, won Best of Show at FinovateAsia in 2017. The company rebranded to IDVerse in 2023.
Hastings Direct Loans is working with IDVerse to further automate the customer journey by adding IDVerse’s identity tools to its offering. The lender will put IDVerse’s identity tools to work to boost the accuracy and reliability of its identity verification process.
Calling IDVerse’s technology a “perfect match,” Hastings Direct Loans Head of Digital, IT and Change, Sam Kerr added, “Hastings prides itself on giving our customers a fair, easy to understand loan process by implementing innovative technology solutions into our stack, which also enable our ambitious growth plans. The API approach from IDVerse has allowed us to ingest more data to further insights in our decision process leading to better outcomes for our customers and business.”
IDVerse’s tools and infrastructure empower businesses to verify identities within seconds using only their face and smartphone. IDVerse’s identity verification technology covers more than 16,000 identity documents, and works with more than 140 different languages and typesets to produce face matching accuracy of 99.998%. Equipped with Zero Bias AI Tested technology, IDVerse enables businesses to verify a wider range of identities, ensuring greater accessibility, for example with those with disabilities.
Additionally, the technology leverages light refraction analysis to determine liveness, removing the need for users to turn or move uncomfortably or endure unnatural lighting in order to establish their identity. Zero Bias AI also means normalizing user photos to account for individuals that may not have the most modern smartphone camera technology or high-speed data connection. In addition to integrating and testing within a month, Hastings Direct Loans noted that it had experienced a 4x ROI within a month of launch based on the amount of fraud the company has caught.
IDVerse Commercial Director Adam Desmond complimented the Hastings team for its eagerness to embrace enabling technologies. “They understand the need for fintechs to use the latest technology and data to drive improved outcomes in customer experience – which led to better business outcomes. Being able to exchange information at speed during the integration has allowed us to show the true value of the tech (in) near instant time.”
Headquartered in the U.K., Hastings Direct Loans has offered personal loans to consumers for more than three years. To date, the firm has financed nearly $655 million (£500 million) for more than 50,000 customers, and currently processes more than $39 billion (£30 billion) worth of loan quotes per month. Hastings Direct Loans is part of the Hastings Group, a U.K.-based digital insurance provider with more than 3.1 million live customers policies.
Founded as OCR Labs, the company won Best of Show for its demo at FinovateAsia 2017 in Hong Kong. The firm rebranded as IDVerse in May 2023. More recently, the company has forged partnerships with data and compliance infrastructure company Prembly, age and identity verification solutions provider Veratad Technologies, and identity verification and fraud prevention specialist TrustID.
Last month, IDVerse announced the beta launch of its real-time face matching solution, Face Access, that offers 99.998% accuracy and instant, secure user authentication. Face Access features both Zero Bias AI and the company’s Deepfake Defender protection, which provides 100% liveness video fraud assessment with ISO 30107-3 compliance for presentation attack detection (PAD).
IDVerse has raised $45 million in funding according to Crunchbase, and includes Equable Capital and OYAK among its investors. The company is headquartered in London. John Myers is CEO.
Fidelity Investments has launched its first dedicated venture capital fund, Venture Capital Fund I.
The $250 million Fund I targets mid-to-late stage companies in technology, media, and telecommunications sectors.
The new fund marks a shift from Fidelity’s traditional private market investing, allowing the firm to make direct minority investments and cater to high-net-worth individuals, family offices, and registered investment advisers.
Fidelity Investments recently closed its Venture Capital Fund I LP, or what it is calling Fund I. The $250 million fund– which received support from investors including high net-worth individuals, family offices, and registered investment advisers– held its final closing on September 30.
Fidelity has been investing in private companies for over 15 years, having backed Twilio, Stripe, and even SpaceX. During its decade-and-a-half of investing, Fidelity has deployed over $28 billion across 600 investments in 350 private companies. Historically, the firm has focused on high-growth category disruptors, leveraging its mutual funds to back private companies with notable competitive advantages.
Fidelity Investments Portfolio Manager and Global Head of Private Equity Karin Fronczke emphasized how the launch of the new fund strengthens Fidelity’s already robust track record of investing in private companies. “The success of this fundraise speaks to Fidelity’s legacy investing in private companies. We are grateful for the support from the fund’s limited partners,” she said.
The firm’s introduction of Fund I, however, marks a significant departure from its traditional approach, carving out a more defined venture capital strategy. With Fund I, Fidelity has a dedicated vehicle for direct minority investments and will target mid-to-late stage companies in the technology, media, and telecommunications sectors.
Additionally, the new fund will help Fidelity meet the growing demand from high net-worth individuals, family offices, and registered investment advisers who want more diversification in private market investments. Fidelity’s Fund I is a notable shift towards a specialized venture capital structure that can cater to investors seeking access to high-growth private companies and diversification beyond traditional public markets.
Fund I is already in motion, having invested $31 million in 10 companies spanning industries including aerospace, defense, artificial intelligence, and e-commerce.
Fidelity, which already manages 50 alternative funds, recently launched liquid alternatives ETFs and mutual funds. The firm currently counts $27.8 billion in assets under management in alternatives and $80 billion in alternative investment assets under administration.
This announcement comes at an interesting time for the fintech venture capital funding environment, which is experiencing a notable drought. As Finovate Research Analyst David Penn noted on the blog earlier this week, “According to market intelligence platform Tracxn, funding for U.S.-based tech companies in Q3 of this year fell, both in comparison to the previous quarter as well as when compared to Q3 2023. Tracxn also reported that the number of tech unicorns actually increased this year compared to last year, with 13 new unicorns acknowledged in Q3 2024 compared to just five in Q3 2023.”
However, Fidelity’s optimism in launching a new fund may signal a turning point in the fintech funding landscape. This shift could push more traditional asset managers to create similar venture capital funds, pushing more capital into later-stage fintech firms, a group which has been ignored by investors over the past few years.
Whether you attended FinovateFall last month and missed a few demos, watched all of the demos but want to watch them again, or missed out on FinovateFall entirely, we have great news for you. The videos from the 66 FinovateFall demos are now live (and free to watch!) on Finovate’s website.
To get you started on watching over seven and a half hours of pure fintech demos, we’ve highlighted the eight Best of Show winning demos below to get you started.
Want to re-live the entire show? Check out the highlights reel below.
If you don’t want to miss out on the live action next time around, be sure to register for FinovateEurope, taking place February 25 and 26 in London. We’ll see you there!
FIS has launched its Digital Trading Storefront, enabling banks, brokers, and fund managers to offer a customizable digital trading experience with real-time execution and enhanced personalization.
The new Digital Trading Storefront is built on FIS’s Cross-Asset Trading and Risk Platform.
The new tool supports both buy-side and sell-side strategies while helping firms manage trading volumes and mitigate regulatory compliance risks.
Payment, banking, and investment systems provider FISunveiled its Digital Trading Storefront today. The new tool enables banks, brokers, market makers, and fund managers to offer their customers a new digital trading experience.
The new Digital Trading Storefront builds upon FIS’ existing Cross-Asset Trading and Risk Platform. Formerly known as Front Arena, FIS Cross-Asset Trading and Risk Platform helps firms enter new markets quickly and support strategies for both the buy side and sell side. FIS’ Digital Trading Storefront enhances this by offering a suite of digital tools that allow for personalization and real-time trade execution.
Firms can customize their Digital Trading Storefront by integrating their own front or back-end components, and tailoring the design and customer experience to suit their brand. The platform facilitates more accessible trading in real-time, while helping mitigate regulatory compliance risk with APIs. When firms move their cross-asset trading platforms into the digital platform, they are better able to manage trading volumes at scale.
“Providing a competitive digital trading experience has become crucial for financial institutions who want to help customers be smarter when putting their money to work,” said FIS President, Capital Markets Nasser Khodri. “With this launch, FIS is unlocking financial technology that enables banks, broker dealers and wealth managers worldwide to deliver more modern experiences to their customers when their money is at work.”
FIS was founded in 1968. Headquartered in Florida, the firm offers a wide range of products and tools for its 15,000 clients across the globe, processing $50 trillionannually. In addition to wealth management tools, FIS also offers payment capabilities, risk management tools, customer communications products, and more.
In recent months, FIS has expanded its reach in the fintech and banking sectors through new offerings and partnerships. In July, FIS teamed up with Lendio, a fintech known for its lending technology, to launch a new SMB Digital Lending solution to support SMBs in need of financing. In August, Commerce Bank selected FIS to implement a loyalty program management platform.
Cardlay Payments Solutions has inked a partnership with Visa.
The collaboration combines Cardlay’s spend management technology with Visa’s payment network, data capabilities, and market position to drive innovation in spend management for commercial card issuers and their customers.
Headquartered in Denmark, Cardlay made its Finovate debut earlier this year at FinovateSpring.
Danish fintech Cardlay is collaborating with digital payments leader Visa to power innovations in the spend management space for commercial card issuers and their clients. The two companies’ new referral relationship combines Cardlay’s white label spend management platform with Visa’s market position, payment network, and data capabilities to provide fully embedded commercial cards and spend management solutions to their clients.
“We’re thrilled to partner with Visa, a highly respected leader in the digital payments industry,” Cardlay CEO Jørgen Christian Juul said. “To be able to fuel our product and commercial growth further together with Visa is great and the collaboration will help bring our vision to life: delivering fast and effortless spend management to commercial card issuers.”
Cardlay leverages the integration of virtual and plastic payment cards, card management, and expense management (including automated VAT reclaim) to help companies automate key business processes. A strategic partner to banks, fintechs, card issuers and processors, as well as other financial institutions, Cardlay also runs its own virtual card program to complement its software suite.
Cardlay’s technology enables commercial card issuers to enjoy a fast time-to-market and ROI, as well as benefit from data capabilities such as real-time virtual credit cards and Visa’s Fleet 2.0 data. These capabilities provide greater efficiency via access to data and insights, facilitate cost reduction, and help support sustainable transportation and mobility budgets.
“We’re delighted to have partnered up with Cardlay and look forward to our work together, helping to streamline financial operations for businesses, providing them with greater transparency and control over their spending,” said Helen Jones, Executive Director, Visa Commercial Solutions, Visa Europe.
Headquartered in Denmark and founded in 2020, Cardlay Payment Solutions made its Finovate debut at FinovateSpring earlier this year. At the conference, the company demoed its bank-integrated, real-time expense management solution, Cardlay Expense. More than 500 companies and 5,000+ users in 10 markets around the world are taking advantage of the technology to simplify and streamline the spend management process.
Cardlay has raised more than $29 million in funding according to Crunchbase. The company’s investors include Global PayTech Ventures and SEB Venture Capital.
Indeed Flex has partnered with Branch to offer temp workers same-day payouts.
Temp workers on the Indeed Flex platform can access up to 50% of their earnings within one hour of finishing their shifts.
Integrating Branch Direct, Indeed Flex can give workers the option to receive their pay either through direct deposit for a small fee or into the Branch digital wallet for free.
Temporary staffing platform Indeed Flex has teamed up with Branch, a workforce payments platform that provides flexible options for businesses to pay their workers. Indeed Flex will use Branch to pay its temp workers in the same day of completing their shift.
Indeed Flex offers job seekers in a range of industries– including industrial, hospitality, facilities management, and retail– to choose from a wide range of jobs and schedules to fit their needs and gather experience to build their career. The company provides flexible work solutions with temporary, temp-to-permanent, and long-term opportunities.
“At Indeed Flex, flexibility is at the heart of everything we do, and we’re excited to enhance that commitment through our partnership with Branch,” Indeed Flex Founder and CEO Novo Constare. “By enabling Flexers to access their pay as quickly and easily as they can pick up shifts, we’re reinforcing our core value of providing both work and financial flexibility that adapts to their unique needs.”
By integrating Branch’s fast payout tool, Branch Direct, into its payouts, Indeed Flex can now offer temp workers access to up to 50% of their earnings within one hour of completing their shift. With Branch Direct, workers can quickly receive a predetermined percentage of their earnings into their existing bank account for a small fee after linking their debit card. Alternatively, the employee could receive the funds into their Branch digital wallet for free.
“Branch is excited to collaborate with Indeed Flex and support their mission of empowering the flexible workforce with greater choice,” said Branch Founder and CEO Atif Siddiqi. “The Branch platform and app are designed to meet the unique needs of both temporary staffing firms and contingent workers. We’re proud to offer an end-to-end solution that allows Indeed Flex to enhance workers’ financial stability and overall work experience with even more speed, ease, and convenience.”
Branch, which provides banking services via its partner Evolve Bank and Trust, was founded in 2015. The Minnesota-based company offers businesses a range of payout options that suit their needs– from easy-to-launch payment solutions to fully customized, branded experiences.
