The lack of stable income from single, easily verifiable sources makes it difficult for gig workers to access traditional financial services, and the yawning inclusion gap of this sector becomes more glaring as the gig economy explodes: the sector is projected to grow to $455 billion by 2023, or more than double the sector’s size in 2018. More than a third of U.S. workers participate in the gig economy, which is also seeing explosive growth in emerging markets in places like Southeast Asia and Africa as well.
An early-stage company, Moves markets itself as the only all-in-one financial app built exclusively for gig workers. Moves utilizes Argyle to access the gross income of workers across multiple apps to gain a firm understanding of their earnings patterns. With that information, Moves currently offers a cash advance program to gig workers as an alternative to predatory payday lenders.
Image via. Mondato