Wedge, a Fintech startup, has launched the Wedge white-label programmable payments platform.
Banks and credit unions nationwide can now “issue customers the industry’s most advanced debit cards, offering them the ability to use their most efficient payment method available at every point of purchase, physically or digitally.”
Wedge’s proprietary technology enables integration “with existing bank infrastructure which directly results in an incredibly efficient and rapid product launch.”
This innovative approach empowers banks and credit unions “to manage balance sheet leakage, drive high engagement, and deepen client relationships by providing customers with the best that fintech has to offer within a single digital wallet and debit card experience.”
Billy Roberts, Founder and CEO said:
“Wedge was created to empower spending in a way that is incredibly intuitive. The ability for banks and credit unions to offer this service to their customers not only enhances the efficiency of the customer spend experience, but helps banks stay better engaged with their user base, keep more deposits on their balance sheet, and to more effectively transform data into actionable and measurable insights that FI’s can directly benefit from.”
Wedge’s platform allows users “to aggregate all their various accounts into one cohesive digital wallet, and then fund their spending from any of those connected accounts seamlessly.”
The ability to layer this technology “on top of Wedge’s analytics engine means that banks and credit unions can not only provide their customers an unparalleled debit card product, but are also able to effectively leverage the data and analytics that result from the usage of those products in a way that creates continuous improvements for them and the customer experience.”
Rich Perez, CIO, Texas Bankers Association said:
“Community banks must increasingly navigate between investing in ‘run the bank’ initiatives, which are essential for daily operations, and adopting innovative solutions to stay competitive. This can hinder their ability to keep pace with the evolving digital landscape which is why cultivating the right banking and fintech partnerships through initiatives like our Magnet Program are key to driving innovation across this sector.”
To help lead Wedge through its next chapter, Kim Askwith has “been appointed President, effective Feb. 22, 2024.”
Over the past 19 years, Askwith has “held leadership roles working in Big Four consulting as well as large and mid-sized financial institutions, spearheading transformational programs for companies in the U.S., Canada and Mexico across the risk, operations and technology spaces.”
Most recently, she spent two years as Managing Director at Ernst & Young, “where she drove the advancement of the Texas market by leading its growth across all service lines and sectors, and worked with regional and community banks as well as fintech companies to build their risk organizations to meet regulatory requirements and support their growth journey.”
At Wedge, she will be responsible “for spearheading the development & execution of the go-to-market strategy for the Wedge solution to banks and credit unions, as well as oversight of the company’s operations ensuring Wedge clients are getting the best experience and economics that can be unlocked with this innovative new offering.”
Additional customers using Wedge technology “will be announced in the coming months.”