US digital banking startup Rellevate selects core tech

US digital banking startup Rellevate selects core tech

Rellevate, a US digital banking startup founded by the former president of Western Union, has selected Technisys as its core platform provider.

Offered primarily via employers, Rellevate’s financial services offering for low income consumers includes checking with interest as the core umbrella product with access to payroll, bill pay, and money transfer capabilities linked to the account.

The startup struck a deal with Visa last year to use the card scheme's DPS as the system of record and back-end processing engine for the Rellevate Debit product. Technisys will complement the Visa DPS processing platform via its Cyberbank Digital Platform, a cloud-ready and open API-based platform, designed to interact directly with the fintech ecosystem.

Greg Schneider, Rellevate’s CIO, says: "By using the platform, employees in the United States can track daily wages earned, the number of hours worked in a month and access their earned wages. The service also includes digital banking, debit card services, bill pay, and money-sending capabilities."

Rellevate’s chairman and CEO Stewart Stockdale, who was formerly CEO at JG Wentworth, president at Western Union, and SVP global marketing & product management at Mastercard, says the platform will go live in Q1 2020.

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