STAMFORD, Conn.--(BUSINESS WIRE)--Rellevate™, LLC announces the launch of its new digital banking services platform aimed at facilitating consumers’ access and use of their money. Offered primarily via employers, Rellevate’s financial services include checking with interest as the core umbrella product with access to payroll, bill pay, and money transfer capabilities linked to the account.
“We believe the time is right to offer Americans the tools to access their money and to use it when and how they need it more easily and conveniently,” said Rellevate’s Chairman and CEO Stewart A. Stockdale. “We have built a great team with deep experience in all facets of the Rellevate value proposition to develop services for consumers at the intersection of technology, financial services, security and compliance.” Stockdale was formerly CEO at J.G. Wentworth, President at Western Union, and SVP Global Marketing & Product Management at Mastercard, among other roles.
Rellevate’s signature platform includes the following array of transactional digital banking services:
- Checking with Interest - allows employees to directly deposit their paychecks into an account that earns interest. The checking with interest account also offers other digital banking services to the Rellevate consumer.
- Access to Payroll - allows employees to access payroll and direct deposit into their Rellevate checking with interest account.
- Visa Debit Card - able to use it everywhere Visa debit cards are accepted and also to access funds through ATM’s worldwide.
- Bill Pay - electronic bill payment system, which also offers expedited emergency immediate payments.
- Money Transfer - enables users to move money person-to-person within the United States or around the world.
“Many of today’s hardest working people have had difficulty accessing their money in a timely manner. They have typically had to be serviced by check cashers, payday lenders, and traditional banks that at times charge onerous rates and fees. Rellevate is the answer to their problem, providing these needed banking services in a transparent, fee-friendly way and allowing them to access and use their money when they need it,” said Greg Schneider, Rellevate’s Chief Information Officer. Schneider, who has worked with Stockdale for over 20 years, was previously the CIO at J.G. Wentworth, SVP Marketing Information Management at Western Union, helped build one of the world's largest Visa gift card programs while at Simon Property Group, and spent 16 years at JPMorgan Chase in a variety of roles.
Many leading experts agree. “Rellevate's suite of financial services will reduce the volatility in income that a growing number of Americans face. It will also enable them to better meet unanticipated expenses, meaning they no longer have to rely on high-cost alternatives,” said William M. Rodgers III, a former U.S. Department of Labor Chief economist and currently a Rutgers Professor of Public Policy.
Rellevate is partnering with Visa and a leading fintech bank for banking, processing and other services. “We chose to work with Visa because of the power of the Visa brand and since we have a history of building large programs with them, including one of the world’s largest Visa gift card programs, and with a leading fintech bank because of their strong track record in the financial, innovation, regulatory, and compliance categories,” added Stockdale.
Rellevate, LLC is a digital banking services company dedicated to empowering consumers through innovative banking and payment services that allow consumers to access and use their money anytime, anywhere. The company’s suite of financial services, offered primarily via employers, include checking with interest, Visa debit cards, access to payroll, bill pay, and money transfers. For more information on Rellevate, visit www.rellevate.com.