Highline and Argyle Accomplice to Enhance Shopper Entry to Credit score, Cut back Threat for Lenders By Payroll-Linked Lending

DALLAS–(BUSINESS WIRE)–#billpay–To satisfy the wants of U.S. customers who’re usually shut out of inexpensive credit score merchandise, funds fintech Highline Applied sciences and employment information platform Argyle have partnered to carry payroll-linked lending and billpay capabilities to lenders nationwide.

With payroll-linked lending, shopper loans are mechanically repaid by way of preset distributions instantly from the borrower’s paycheck. This advantages customers by offering them entry to decrease value credit score by way of extra respected, non-predatory lenders; and likewise advantages lenders as payroll-linked lending permits them to lower missed funds by as much as 2/3rds and cut back default charges by greater than half.

“Our partnership with Highline empowers employees, customers and lenders with over 160 granular information factors, whereas transferring us nearer to common monetary entry for the underbanked, these with skinny credit score or no credit score historical past, and those who the monetary system has historically disregarded; gig employees, shift employees and creators,” mentioned Shmulik Fishman, CEO of Argyle. “Argyle’s information coupled with Highline’s dedication to monetary wellness is meaningfully increasing entry to monetary providers and lowering threat for customers and lenders alike.”

Argyle’s real-time, borrower-permissioned service is totally built-in into Highline’s platform, which permits lenders to implement any variety of decisioning, origination and compensation use instances. Lenders can embed these capabilities inside their very own digital expertise. An applicant’s earnings and employment information, together with employment tenure and earnings, can be utilized for decisioning. Shoppers then opt-in to repay loans by way of allocations from payroll and Highline manages the circulation of funds to repay the loans.

“True monetary inclusion begins with the popularity that there’s a scarcity of non-predatory choices obtainable for a lot of People who want entry to comparatively small greenback loans,” mentioned Geoff Brown, CEO of Highline. “The crew at Argyle acknowledges this as properly and, like Highline, is dedicated to serving to extra customers acquire entry to credit score in a means that additionally is sensible for lenders and suits their enterprise goals.”

About Argyle

Argyle is constructing the main user-consent-based platform for employment information, serving to folks keep away from conditions the place their private info is bought or used with out their consent or information. With Argyle, any enterprise can course of earnings and work verifications, acquire real-time transparency into earnings, in addition to view and replace employee profile particulars. By eradicating the boundaries between a employee, the businesses they earn cash from, and the enterprise they purchase providers and merchandise from, Argyle has reimagined how employment information might be leveraged to learn each establishments and people. www.argyle.com.

About Highline

Highline is a brand new funds platform that automates invoice funds instantly from payroll. It supplies lenders with a easy, direct strategy to credit score decisioning and cost automation that may be supported at scale. Lenders can lower missed funds by as much as 2/3rds, cut back default charges by greater than half, broaden clients’ credit score choices, and higher help monetary wellness. Constructed by material consultants, information scientists and technologists, Highline’s resolution unleashes the facility of cost automation to assist lenders and monetary establishments broaden the pool of potential debtors. For extra info, please go to https://highline.co.

Contacts

MEDIA CONTACT:
Derek Howard

For Highline

[email protected]
678-781-7215

Heather McDaniel

For Highline

[email protected]
678-781-7204