|View printer-friendly version|
Green Dot® Invests in Research Initiative to Advance Financial Security and Inclusion of Gig Workers
Research collaboration, led by nonprofit Commonwealth, to focus on improving income sufficiency and stability for lower-income Black, Latinx and female gig workers
“The rapidly expanding and dynamic gig workforce presents tremendous opportunity for fintechs to support and empower this critical segment of our economy,” said
The income volatility faced by gig workers, which became even more pronounced during COVID-19, has revealed unique financial challenges that disproportionately affect lower-income Black, Latinx and female gig workers. A 2020 study of
“Gig workers are a growing segment of low- and moderate-income workers,” said
As part of the Commonwealth partnership and investment, Green Dot will expand the pool of primarily Black, Latinx and female gig workers involved in the study. Workers will also be sourced by
For more information on Commonwealth’s research and solutions, visit: buildcommonwealth.org.
About Green Dot
Green Dot offers a broad set of financial services to consumers and businesses including debit, checking, credit, prepaid, and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. Its flagship digital banking platform GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. The company’s banking platform services business enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy customized, seamless, value-driven money management solutions for their customers.
Founded in 1999, Green Dot has served more than 33 million customers directly and many millions more through its partners. The Green Dot Network of more than 90,000 retail distribution locations nationwide, more than all remaining bank branches in the
Commonwealth is a national nonprofit building financial security and opportunity for financially vulnerable people through innovation and partnerships to change systems. Black, Latinx and Female-led households disproportionately experience financial insecurity due in large part to longstanding, systemic racism and gender discrimination. Addressing these issues is critical to Commonwealth’s work of making wealth possible for all. Commonwealth’s collaborations with consumers, the financial services industry, fintechs, employers, policymakers and mission-driven organizations result in solutions that are grounded in real life and based on a deep understanding of financially vulnerable people. Commonwealth has designed effective innovations, products, and policies enabling over 1 million people to accumulate more than
Founded in 2014 by