Argyle Adds FinanceNow to Pre-Builds Library for Developers to Quickly and Easily Integrate User-Permissioned Income Data Sets into Consumer Banking Apps

May 03, 2022 at 09:00 AM EDT

Argyle, Stytch, and Unit Collaboration Presents a Modern Command Center for Personal Banking That Improves Customer Experience, Increases User Loyalty for Financial Institutions and Neobanks

Argyle, the leading employment data platform that provides companies access to user-permissioned employment records in real-time, is collaborating with Unit and Stytch to introduce FinanceNow, a pre-built solution which is part of Argyle’s library of templates allowing software developers to easily integrate novel features into consumer-facing banking applications. Combining Argyle’s user-permissioned income and employment data, Unit’s banking-as-a-service (BaaS) capabilities, and Stytch’s passwordless authentication platform, FinanceNow makes it easy for financial institutions to empower customers with a dynamic view of their financial data, including real-time earnings from multiple income streams, and with data sources and finance tools that enable proactive financial planning.

“The innovative FinanceNow model we’ve built in collaboration with Unit and Stytch empowers financial services companies to easily increase the benefits and stickiness of their banking apps through the integration of real-time income and employment data. It also helps them customize lending solutions and deliver a better customer experience to end-users, giving consumers a better understanding of their financial health while simultaneously reducing app churn,” explained Shmulik Fishman, CEO and founder of Argyle.

FinanceNow Simplifies Sophisticated Application Development for Financial Institutions and Expands Banking Services for Consumers

FinanceNow is a low-friction, pre-built solution that can be used as a foundation for developers building a new banking application or as an extension of an existing banking application. Embedding FinanceNow streamlines the user’s account-opening experience — the only step required by the user is linking an employment, payroll or gig account through Argyle. Lenders are then automatically able to see over 140 immutable data points related to income and employment that can be used for Know Your Customer (KYC) and financial service offerings tailored to the individual.

The reference architecture enables features like Earned Wage Access, which allows consumers to withdraw and manage earned funds before they are available in their bank account. Other core features that can be enabled through FinanceNow include:

Income visualization tools
Account funding directly from a user’s paycheck
Virtual debit cards for instant access to funds
Peer-to-peer payment services
Job discovery tools and careers suggestion board
Additional credit products

“We've designed Unit to be a simple and robust open platform that empowers companies to build better banking experiences, and we're proud to power FinanceNow with our friends at Argyle and Stytch. Every consumer banking product seeks to capture paychecks through direct deposit switching. Our partnership with Argyle makes it a seamless experience,” said Itai Damti, co-founder and CEO of Unit.

“We understand the necessity of secure and accessible offerings for developers,” said Reed McGinley-Stempel, co-founder and CEO of Stytch. “This is why our partnership with Argyle is critical in achieving our goal of providing authentication technology that delights customers while meeting the demands of their end-users. With the capabilities of Stytch, Argyle users can more easily and securely use passwordless authentication to open accounts and better monitor and manage their finances.”

Fishman added, “At Argyle, we’re on a mission to democratize financial access. FinanceNow is our latest manifestation of that commitment. We’re continuing to expand our library of pre-builds for developers so they can add advanced features without coding from scratch, thereby enabling financial institutions to broaden their reach with customers and achieve digital transformation objectives more quickly.”

To learn more about Argyle’s solutions and to explore the benefits of FinanceNow, read our blog post highlighting the launch or try the demo for yourself.

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 income and work verifications, gain real-time transparency into earnings, as well as view and update worker profile details. By removing the barriers between a worker, the companies they make money from, and the business they buy services and products from, Argyle has reimagined how employment data can be leveraged to benefit both institutions and individuals.

About Unit

Unit is the leading banking-as-a-service platform that empowers companies to embed financial services into their product. Unit's platform accelerates time to market and enables companies to build and launch bank accounts, cards, payment, and lending products. Unit is headquartered in New York and Tel Aviv and is backed by Accel, Better Tomorrow Ventures, Aleph, Flourish Ventures, TLV Partners, Operator Partners, and more.

About Stytch

Stytch offers a developer platform with powerful tools and infrastructure to enable developers to quickly incorporate passwordless authentication flows into their apps. Their API allows developers to build delightful login flows by removing passwords and replacing them with more secure and low-friction authentication options like email magic links, passcodes, OAuth, and Web3 logins. The company is headquartered in San Francisco and is backed by Benchmark, Coatue, Index Ventures and Thrive Capital.