Branch, a workforce payments platform, is joining forces with Lead Bank, a bank focused on serving fintechs firms, in a move that will see Lead Bank serve as an additional card issuing partner for the workforce payments platform.
Through the new partnership, Lead will become a sponsor bank for Branch’s suite of workforce payments solutions, including the Branch App and Card, which provide a digital banking account and debit card, as well as Branch’s White Label products, which offer custom-branded payment solutions for businesses.
Branch powers fast, flexible payment options for workforces at the nation’s leading companies, including cashless tips and mileage reimbursement, earned wage access products, 1099 contractor payouts, off-cycle payments, paycards, and direct deposit options.
“We’re excited to work with Branch, one of the fastest growing companies in fintech, fueled by ever-rising demand for seamless workforce payments,” explained Lead Bank CEO Jackie Reses. “Branch and Lead both believe in an innovation-first approach to banking services, and together we can use technology to improve the financial lives of businesses, their workers, and their customers.”
As Branch continues to expand into new workplaces, industries, and marketplaces, it says the new partnership will support its growth, as it enters a number of new key industries, including hospitality, gig platforms and marketplaces, staffing services, construction, logistics, and agriculture.
“Branch and Lead share a commitment to delivering experience-driven financial services and serving as trusted partners that propel innovation,” added Atif Siddiqi, CEO of Branch. “We look forward to having them as a partner that fuses regulatory expertise with modern technology and can help us further scale our offerings as we provide fast, flexible payment experiences to more workplaces.”
The news comes shortly after Branch was recognised as one of the fastest growing companies and productivity partners in the nation by Deloitte and Inc.
