Branch with Atif Siddiqi | E184

Helping businesses offer accelerated pay and digital banking to empower their workers.

Host Jason Pereira talks to Atif Saddiqi - Founder/CEO at Branch. It is a fintech that allows employees to access the money they earned before pay-check.

 

Episode Highlights: 

  • 0.30: Atif says Branch is a payment platform that helps businesses accelerate payments to the workers to empower them. 

  • 1.27: Jason asks Atif to share about the history of Branch and what brings him to launch it?

  • 1.40: Atif has founded the company way back in 2016. This was started from his own experience as an hourly worker. 

  • 1.59: While working as an hourly worker, Atif found that a common pain point for workers is always looking for ways to earn more income.

  • 2.14: Branch was initially launched as a mobile B2B product. Over time they kept improving the process. 

  • 4.22: “A lot of employers we work with still cuts paper cheques; they don’t have a reliable way to deposit money,” says Atif. 

  • 4.31: Atif explains how Branch helps employers by providing cost-effective solutions.

  • 5.59: People can use Branch as a banking service, affirms Atif

  • 06.31: Jason inquiries from an employer’s standpoint how does Branch helps in cash flow?

  • 7.54: Atif talks about the Digital Tips, Wallets, Reimbursements, and other user-friendly services that Branch offers. 

  • 08.29: As per a recent statistic, Atif has read that there are workers who are still living pay-check to pay-check.

  • 08.48: Atif talks about the new business models that are being introduced for the benefit of various classes of workers. 

  • 10.19: Atif elaborates on the user feedback that his company has received and how its services are used. 

  • 12.32: Currently, Atif and his team are looking for saving solutions that are automated. 

  • 13.49: Jason asks about the success rate data of “Branch”.

  • 14.20: When discussing revenue strategy, Atif says that the company primarily relies on interchange revenue. 

  • 17.00: Atif talks about various target sectors and how employers benefit from Branch’s services. 

  • 18.39: Jason talks about the cognitive burden of living pay-check to pay-check. 

  • 20.11: Atif talks about the most significant challenge that he has faced so far in Branch. 

3 Key Points:

  1. Atif talks about his company Branch, the reason behind its launch, and how it is benefitting employees as a modernized employer payments technology.

  2. Jason curiously inquiries about the user feedback and success story of “Branch.” 

  3. When talking about their target sectors, Atif says a large staff is operating in restaurants and hospitals. This helps them to tap into a large employee population.

Tweetable Quotes: 

  • “Assessing your wages should be free.” - Atif Saddiqi

  • “Employers see Branch is a uniform solution to pay all their contractor.” - Atif Saddiqi

  • “We have to do mental aerobics when opening a bank account.” - Jason Pereira

Resources Mentioned:

Fintech ImpactJason PereiraFintech, Banking