We help banks and credit unions attract and keep direct deposit customers
We offer a Software-as-a-Service (SaaS) to banks and credit unions that automates Earned Wage Access (EWA) for employees of select employers.
Thanks to AcceleWage, banks and credit unions can acquire and retain direct deposit customers, increase revenues and at the same time contribute to the financial wellness of people in their communities.
According to a recent survey from the American Banker, the time to enter the EWA market for banks and credit unions is now.
More and more US employers partner with EWA providers to offer their employees the possibility to request their earned wages before payday. EWA is a financial wellness benefit that increases employees' productivity and retention. EWA is in very high demand amongst employers and their employees and is a low-risk business repaid through payroll deductions.
EWA providers offer debit cards and checking accounts to employees and have been able to attract billions of dollars of paycheck deposits away from banks and credit unions. As a result, banks and credit unions are losing customers and revenues to EWA providers and other digital banks offering early pay features to their customers.
Thanks to AcceleWage, banks and credit unions can offer more competitive EWA solutions to employees of select employers and attract and keep direct deposit customers.
Through API, our white-label SaaS links employers’ payroll software and core banking to fully automate:
Income & employment verification
Direct deposit switching & mobile access to EWA
Credit and booking of EWA transactions
Repayments through payroll deduction
Our aim is to help banks and credit unions compete with fintech and digital banks by offering an EWA SaaS that brings them the following key benefits:
Bruno Gremez - Co-CEO
Samir Kasmi - Co-CEO
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