At workforce payments platform Branch, the firm claims that they love partnerships, especially with companies that share “a commitment to financial inclusion.”
That’s why they’re really pleased to confirm that they’re working with HR, payroll, and compliance software Greenshades to offer fee-free financial services to their customers’ employees.
Greenshades has embedded Branch as their “exclusive” banking and card solution.
With much of their customer base in General Industrials and HR & Staffing, Greenshades services a “large concentration of deskless, hourly workers in need of banking services.”
By embedding Branch, Greenshades says that it offers an ideal payroll experience for Microsoft Dynamics and other ERPs users. In a few clicks, workers can now “set up their own Branch Wallet backed by an FDIC-insured checking account from Evolve Bank & Trust, all within the Greenshades employee portal,” the team at Branch wrote in a blog post.
The Branch Wallet offers a digital banking experience with:
- No overdraft, maintenance fees, or account balance minimums
- Immediate access to their Branch Card upon sign-up via Apple Pay or Google Pay
- Access to over 55,000 free ATMs
- Free instant access to earned wages
- Up to two-day early paycheck
— “along with other personal finance tools to help them manage their cash flow between paychecks.”
As noted by Branch:
“While the embedded solution empowers employees, it’s also great for payroll administrators — the integration offers real-time visibility of account creation and accurate, automated direct deposit updates directly into employee profiles. Plus, it saves additional time and costs by eliminating paycard and paper check administration, inventory management, and manual entry.”
Frank Villavicencio, Chief Product Officer at Greenshades, said:
“Branch not only enables easy integration and onboarding with open APIs, but also free, transparent financial services that workers truly enjoy. As a result, we’ve already seen great excitement and adoption in our early rollouts.”
The API integration allows payroll administrators real-time visibility of account creation and “accurate, automated direct deposit updates directly into employee profiles,” the update explained.
Needing “no effort” from the HR department, the self-service direct deposit option generates “additional time and cost savings by eliminating paycard and paper check administration, inventory management, and manual entry.”
Branch CEO Atif Siddiqi stated:
“With our deep integration, we look forward to bringing Greenshades customers and their workers a seamless, mobile-first banking experience that can help them grow financially.”
For more details on this update, check here.