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Greenshades Selects Branch As Exclusive Banking And Card Solution

Greenshades Software, a leader in payroll, HR, and compliance solutions for midsized companies, and workforce payments platform Branch have partnered to deliver a zero-fee bank account and debit card option along with other financial wellness tools to employees of its clients. Greenshades has embedded Branch directly into the employee self-service portal to provide fast, free direct deposit options for all employees, including those without bank accounts, a meaningful population within their base.

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Over a quarter of the employees Greenshades manages receive pay by paper checks. Nearly half of Greenshades’ client base is concentrated in two main segments: General Industrials and HR & Staffing, which typically exhibit a large concentration of deskless, hourly workers in need of banking services. With robust employee self-service, proactive compliance, and a customizable, streamlined interface, Greenshades delivers an ideal payroll experience for Microsoft Dynamics and other ERPs users. In just a few clicks, employees 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.

“Our commitment to cultivating an exceptional user-experience and finding solutions that drive greater financial inclusion led us to Branch,” said Frank Villavicencio, Chief Product Officer at Greenshades. “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.”

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The API integration also allows payroll administrators real-time visibility of account creation and accurate, automated direct deposit updates directly into employee profiles. Requiring 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.

“We’re incredibly excited for this partnership because of Greenshades’ shared mission of empowering workers and providing easier access to financial services,” said Branch CEO Atif Siddiqi. “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.”

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The Branch Wallet delivers a digital banking experience with no overdraft, maintenance fees, or account balance minimums. Users can gain immediate access to their Branch Card upon sign-up via Apple Pay or Google Pay and access to over 55,000 free ATMs. An alternative to fee-laden paper checks and paycards, Branch also offers users free instant access to earned wages, up to two-day early paycheck, and personal finance tools to help them manage their cash flow between paychecks.

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[To share your insights with us, please write to sghosh@martechseries.com]

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