Branch Launches Flex EWA Model for Banks and Credit Unions
Branch has introduced a new white-label earned wage access (EWA) model designed specifically for banks and credit unions. This solution allows financial institutions to embed EWA directly into their own apps under their brand, with Branch handling funding and compliance. The offering enables banks and credit unions to provide customers early access to earned wages without incurring balance-sheet risk or requiring new underwriting processes. The Flex model builds on a previously launched version for employers by providing financial institutions with a lightweight deployment option that avoids the lengthy timelines typical of core banking projects. EWA has proven effective at increasing deposit retention and customer engagement, as data from Branch shows higher card activity among users who access their wages early. This move allows traditional banks to compete more effectively against neobanks using similar services. Flex EWA is designed for rapid deployment through a 60-day sprint process that includes technical integration and testing. The solution integrates with existing payroll systems, allowing financial institutions to launch quickly without significant internal development.
Topics: banking innovation earned wage access (EWA) embedded finance white-label solutions
Read the full article at PR Newswire
Part of the story Branch Launches Flex EWA Model for Banks and Credit Unions (2 articles)