To meet the needs of U.S. consumers who are normally shut out of affordable credit products, payments fintech Highline Technologies and employment data platform Argyle have partnered to bring payroll-linked lending and bill pay capabilities to lenders nationwide.

Payroll-linked lending involves taking money out of a borrower’s paycheck on a regular basis to repay consumer debts. Consumers gain access to lower-cost loans from more respectable, non-predatory lenders; lenders gain access to payroll-linked financing, which lowers default rates by more than half and reduces missed payments by up to two-thirds.

“Our partnership with Highline empowers workers, consumers, and lenders with over 160 granular data points while moving us closer to universal financial access for the underbanked, those with thin credit or no credit history, and those that the financial system has traditionally left out; gig workers, shift workers and creators,”

“Argyle’s data coupled with Highline’s commitment to financial wellness is meaningfully expanding access to financial services and reducing risk for consumers and lenders alike.”

                                                                                         Shmulik Fishman, CEO of Argyle.

The Highline platform is completely integrated with Argyle’s real-time, borrower-permitted service, allowing lenders to use it for a wide range of decisions, origination, and repayment use cases. Lenders can integrate these features with their personal digital experiences. Decision-making may involve the utilization of an applicant’s financial and employment information, including salary and employment history. Consumers can then choose to repay loans through payroll deductions, and Highline controls the flow of money to do so.

“True financial inclusion begins with the recognition that there is a shortage of non-predatory options available for many Americans who need access to relatively small-dollar loans,”

“The team at Argyle recognizes this as well and, like Highline, is committed to helping more consumers gain access to credit in a way that also makes sense for lenders and fits their business objectives.”

                                                                                                   Geoff Brown, CEO of Highline.