Highline and Argyle Partner to Increase Consumer Access to Credit and Reduce Lender Risk with Payroll Loans

DALLAS–(BUSINESS WIRE)–#bill payment–To meet the needs of US consumers who are normally excluded from affordable credit products, payments fintech Highline Technologies and employment data platform Argyle have partnered to bring payroll lending and bill payment capabilities to lenders nationwide.

With payroll-linked loans, consumer loans are automatically repaid through predefined distributions directly from the borrower’s paycheck. This benefits consumers by giving them access to cheaper credit through more reputable, non-predatory lenders; and also benefits lenders, as payroll-linked loans allow them to reduce missed payments by up to 2/3 and reduce default rates by more than half.

“Our partnership with Highline gives workers, consumers and lenders more than 160 granular data points, while bringing us closer to universal financial access for the underbanked, those with little or no credit history. and those that the financial system has traditionally overlooked; gig workers, shift workers and creators,” said Shmulik Fishman, CEO of Argyle. “Argyle’s data combined with Highline’s commitment to financial wellness dramatically expands access to financial services and reduces risk for consumers and lenders. »

Argyle’s real-time, borrower-authorized service is fully integrated with Highline’s platform, allowing lenders to implement any number of decision-making use cases, origination and reimbursement. Lenders can integrate these features into their own digital experience. An applicant’s income and employment data, including tenure and employment income, may be used for decision making. Consumers then choose to repay the loans through payroll allowances and Highline manages the flow of funds to repay the loans.

“True financial inclusion begins with recognizing that there is a dearth of non-predatory options available to many Americans who need access to relatively small dollar loans,” said Geoff Brown, CEO of Highline. “The Argyle team also recognizes this and, like Highline, is committed to helping more consumers access credit in a way that also makes sense to lenders and aligns with their business goals.”

About Argyle

Argyle is building the leading user consent-based platform for employment data, helping people avoid situations where their personal information is sold or used without their consent or knowledge. With Argyle, any business can process earnings and labor verifications, get real-time revenue transparency, and view and update worker profile details. By removing the barriers between a worker, the companies that earn them money, and the company they buy services and products from, Argyle has reimagined how employment data can be leveraged to benefit workers. institutions and individuals. www.argyle.com.

About Highline

Highline is a new payment platform that automates bill payments directly from payroll. It offers lenders a simple and straightforward approach to credit decision making and payment automation that can be supported at scale. Lenders can reduce missed payments by up to 2/3, cut default rates by more than half, expand customer credit options, and better support financial well-being. Designed by subject matter experts, data scientists and technologists, Highline’s solution unleashes the power of payment automation to help lenders and financial institutions expand the pool of potential borrowers. For more information, please visit https://highline.co.

contacts

MEDIA CONTACT:
Derek Howard

For Highline

[email protected]
678-781-7215

Heather Mc Daniel

For Highline

[email protected]
678-781-7204