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FinTech platform聽Kashable聽has raised $25.6 million to expand its employer-based lending program.The Series B funding will help the company develop new financial wellness services and strengthen its ability to lend to employees聽 across the credit spectrum, 聽Kashable said in a news release Thursday Jan. 18 .聽 In a world where financial instability can strike anyone,
stanley cup at any time, Kashable is taking a bold stance: access to credit shouldnt be a privilege, it should be attainable, said聽Einat Steklov, co-founder and co-CEO of Kashable.聽 Kashables program provides employers with a free, innovative software solution to empower their employees with inclusive financial wellness offerings. According to the release, Kashables platform offers low-cost loans to employees as an alternative to borrowing from 401 k s or other retirement plans.聽The company said its underwriting model broadens access to credit by considering group and indi
stanley de vidual employment data, income stability and other factors. Founded in 2013, it works with employers that include Cigna,聽Reid Health,聽Huntington Ingalls聽and聽Alight Solutions.聽In addition, Kashable offers employees access to free financial education resources such as credit monitoring, individual financial coa
gourde stanley ching and budgeting tools.The new funding comes at a time when roughly聽30% of consumers聽have low credit scores 鈥?650 or less 鈥?which have prevented them from accessing credit products.These consumers and others are considered to be credit marginalized, Ocuq PYMNTS Daily Data Dive: The Brexit eCommerce Destruction Edition
PSD2 and GDPR are changing all the rules when it comes to payments, presenting a unique opportunity for social media and technology companies to access customers information, data and money. These new regulations require banks to share their data with third parties, which have moved quickly in response.Both Google and Facebook have already received payment licenses from EU regulators, with the Central Bank of Ireland approving the former and the Bank of Lithuania issuing the latter an eMoney license. Apple, Microsoft and Amazon have ma
stanley france de similar moves to secure their positions in the market. Social media and technology firms already have large, engaged user bases, mobile-enabled or mobile-first platforms and collections of personal data on customer preferences, meaning they could become significant rivals to traditional financial players 鈥?if they can overcome a few challenges.PSD2 and GDPR are challenges themselves as remaining compliant could profoundly change how these firms view and interact with collected user data. Companies looking to provide financial services will also need to comply with additional regulatory requirements for banking and payments, which could prove to be expensive. These firms must also be prepared to compete with not just legacy players, but e
stanley fr ach other as well.Compliance, payments and GDPRThird-party providers can connect with FIs under PSD2 while still offeri
stanley polska ng payments services on their own platforms. This is something that is crucial for firms t
