Digital Payments Finance News

Hank Payments and Fair Fintech Sign Strategic Partnership Enhancing Consumers’ Abilities to Build Savings

Hank Payments and Fair Fintech Sign Strategic Partnership Enhancing Consumers’ Abilities to Build Savings

Hank Payments Corp. a North American leader in consumer Fintech Software-as-a-Service (SaaS) that supports consumer budgeting and cash management automation now offered through distributers and community banks nationwide, is pleased to announce it has entered into a strategic partnership agreement with Fair Fintech Inc. (Fair), a leading consumer-first, ethical financial services company wealth building digital platform based in Houston, Texas.

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Under the strategic partnership, Hank and Fair will offer the Fair banking products to Hank consumers, including a 4% Wealth Building Account. Hank will earn set-up fees for every new account opened, as well as recurring revenues based on Assets Under Management with Fair. Additionally, and as part of the agreement, Fair will expend significant amounts to fund various market development and general marketing efforts to accelerate customer adoption.

As adoption grows, each of Hank and Fair expect to offer a fully integrated solution for consumers on both Hank and Fair’s respective platforms, allowing consumers to take full advantage of best-in-class technology and services.

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Michael Hilmer, Chairperson and CEO of Hank commented “It is important for us to continue to build value for our platform users. As we identify cash flow savings for our consumers using Hank’s best-in-class cash management platform, Hank’s goal is to assist them to start developing healthy savings habits for those unpredictable life events (rainy day funds) and to start growing their savings over time. Fair is on a mission to expand its multilingual digital bank offerings across the country, and we are excited to be partnering with them as they offer among the highest income earnings opportunities on deposits in the marketplace.”

Khalid Parekh, Founder & CEO of Fair and AMSYS Group, stated “I am truly excited about working with Hank and am a strong believer that when cutting edge fintech leaders work together, they can bring great benefits to their respective customers – and there’s no doubt in my mind that this will be the case with Fair and Hank !”

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