To meet the needs of U.S. consumers who are normally shut out of affordable credit products, payments fintech Highline Technologies and employment data platform Argyle have partnered to bring payroll-linked lending and bill pay capabilities to lenders nationwide.

With payroll-linked lending, consumer loans are automatically repaid through preset distributions directly from the borrower’s paycheck. This benefits consumers by providing them access to lower-cost credit through more reputable, non-predatory lenders; and also benefits lenders as payroll-linked lending enables them to decrease missed payments by up to 2/3rds and reduce default rates by more than half.

“Our partnership with Highline empowers workers, consumers and lenders with over 160 granular data points while moving us closer to universal financial access for the underbanked, those with thin credit or no credit history, and those that the financial system has traditionally left out; gig workers, shift workers and creators,” said Shmulik Fishman, CEO of Argyle. “Argyle’s data coupled with Highline’s commitment to financial wellness is meaningfully expanding access to financial services and reducing risk for consumers and lenders alike.”

Argyle’s real-time, borrower-permissioned service is fully integrated into Highline’s platform, which enables lenders to implement any number of decisioning, origination and repayment use cases. Lenders can embed these capabilities within their own digital experience. An applicant’s income and employment data, including employment tenure and income, can be used for decisioning. Consumers then opt-in to repay loans through allocations from payroll and Highline manages the flow of funds to pay off the loans.

“True financial inclusion begins with the recognition that there is a shortage of non-predatory options available for many Americans who need access to relatively small-dollar loans,” said Geoff Brown, CEO of Highline. “The team at Argyle recognizes this as well and, like Highline, is committed to helping more consumers gain access to credit in a way that also makes sense for lenders and fits their business objectives.”