Walmart’s payroll advance partnership pushes the right buttons

CUs could take a page from Walmart’s venture with Even and PayActiv.

Walmart’s December announcement of a partnership with Silicon Valley fintechs Even and PayActiv pushes all the right buttons.

It addresses the financial needs of its employee base, leverages advancements in artificial intelligence and data analytics in an easy-to-grasp fashion, and communicates concern for Walmart’s low-wage workers, a group that has been a flashpoint in public discourse.

Unlike a lot of “pressware,” the move has the potential to do some real good for over a million consumers. It’s also an area where I’d love to see credit unions become more proactive.

Even’s app is positioned as a financial wellness tool, automating much of the tedious and often confusing process of personal budgeting and cash flow forecasting.

 

continue reading »

More News