Young, Scrappy, and Hungry for the Great Reset

Atomic Intelligence Newsletter – June 2022: From the Great Resignation to the Great Reset, employees want a revolution while employers want a revelation.  

Hi there ­­🙋🏼‍♀️,

Is it just us, or does it seem like we’re living life in reverse from this time last year? In June 2021, we witnessed an exodus of 3.8 million workers, according to the U.S. Bureau of Labor Statistics, as employees flocked to new jobs for better work-life balance, higher pay, and bigger titles, among other reasons.

Fast forward to June 2022, and we’re suddenly caught in a tsunami of hiring freezes and layoffs. Startups and corporations are bracing for the job market pendulum to swing the other way as the Fed incrementally increases rates and the media speculates an economic downturn is imminent.

As of late June, more than 22,000 workers in the U.S. tech sector were laid off, contributing to massive job cuts already for 2022 according to Crunchbase

Gauging the shift in job climate, a recent TechCrunch article labeled the current environment “the Great Reset.” We’d say that’s pretty apt. At Atomic, uncertain times only reinforce the importance of our mission: to help every consumer have access to greater financial resources whenever they need them. 

As the workforce takes a beating and employees focus on regaining their footing, the last thing they should be worried about is remembering to schedule a payment–or being penalized for an overdrawn account with fines and fees. We’ve just recently released a solution for that (more below). And we’re working tirelessly every day to build products that even the playing field for every consumer–especially the most vulnerable.  

In this edition of the Atomic Intelligence newsletter, we broaden the scope of the conversation with leading experts to discuss:

  • Trends we’re watching in the market, including on the 11FS podcast
  • The fireworks of regulatory updates impacting our industry, such as the resurrection of the CFPB’s dormant authority
  • And ways customers, including Dave are leveraging payroll connectivity, and Paylink, our latest solution, to create the next generation of fintech companies

We hope you continue to follow along by subscribing to this newsletter and partner with us as we make history happen, on par with our founding father Alexander Hamilton, by empowering payday independence and uniting payroll data for all.

Have a great week,

Lindsay

P.S. How was your 4th of July? Our Founding Fathers on the Hamilton soundtrack made me do it.

 

 

P.P.S Want to get these insights and the Atomic Intelligence newsletter delivered straight to your inbox?

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Solutions Highlight

Repay it, your way with Paylink

Car notes, mortgage payments, your recurring fruit-of-the month subscription. In our latest Insight brief, we provide a rundown of our partnership with Bond in unveiling Paylink, a transformational solution that helps consumers make recurring payments easily–and on time–directly from their paychecks, avoiding unnecessary fees and loans to make up for missed payments. The brief highlights the inspiration behind Repay, how it works and what early use cases reveal about employer benefits.

 

Check it out here

 


 

Customer Spotlight

Outpowering the Goliaths of the world, one consumer at a time

Once upon a time, three friends got fed up with paying overdraft fees. That was the beginning of Dave, featured in our latest case study where we share its origin story with founders Jason Wilk and Paras Chitrakar.

In four short years, Dave has acquired 10 million registered users, helped customers save over $1 billion in needless overdrafts fees, and enter the public markets. We’re excited to partner with Dave as it reinvents banking and  look forward to advancing  our shared mission of helping millions more have fairer access to financial services.

 

Read Case Study

 

Events

Tearsheet Data Day 2022

What if the data hidden in your paystub could qualify you for a mortgage, car loan, or help get tax returns to you faster? And what if that were just the beginning? Consumers should be able to easily share their own payroll data to improve their financial outcomes. However, connecting to that data is cumbersome and met with non-specialized solutions. That’s why Atomic exists: to empower even the most vulnerable members of society access to fairer financial services.

In this fireside chat, Atomic’s Head of Markets, (that’s me ­­🙋🏼‍♀️), discusses how highly fragmented, fractured, and fundamentally broken the legacy banking system is, and shares how Atomic is  blazing the path toward industry transformation, leveraging payroll data.

 

Watch session video


 

Podcast in Replay

How payroll data became bigger than the holy grail

Oil. Gold. Payroll data. Tune into this Fintech Insider Insights podcast as Ahmed Saddiqui, Head of Product at Branch, and Andrew Brown, CEO and founder of Check, Host Simon Taylor, and I discuss heightened interest around something seemingly ubiquitous that has only recently garnered attention as the holy grail of fintech: payroll data.

This podcast analyzes the underlying gold mine of information, opportunity and power held captive in the millions of paystubs employees bring home every month, which can unleash a host of financial opportunities for consumers.

 

Listen now

 


 

The CFPB wakes up a dormant rule

What do volcanos, bears and the Consumer Financial Protection Bureau (CFPB) have in common? As of a few months ago, their affiliations with the word ‘dormant.’

On April 25, the CFPB issued a press release announcing that it was invoking a dormant authority that allows it to examine nonbank companies posing risks to consumers.

Listen in as Lindsay Davis chats with Dara Tarkowski, host of the Tech on Reg podcast, and Alex Johnson of Fintech Takes to discuss what this invocation means and how it potentially impacts the fintech industry.

Listen now

 


☕Fintech Cafe: Fintech & Payments Club

Did you know that over 100 million people need life insurance but either don’t have it or don’t have enough coverage?

Recently, Lindsay Davis, Atomic’s Head of Markets,  co-hosted Fintech Cafe with Ambika Sharma, fintech product manager and community builder.

In this session, centered around the life insurance industry, the duo exchange dialogue  with Co-Founder & Chief Distribution Officer of LadderJeff Merkel, to discuss Ladder’s founding story, the market of life insurance and the space of InsurTech, as well as emerging use cases around embedded finance.

Listen now

 


 

 

A day in the life: Peloton, pizza & payroll APIs

Sourcing talent, educating stakeholders, collaborating with the leadership team to drive the firm’s strategy to revolutionize fintech and payroll–being Head of Markets at a fintech startup is no small feat. But Lindsay Davis does it all, (within reason)–and manages to carve time for an intense workout to keep her endorphins flowing and energy levels up.

In a recent interview with Tearsheeta media company covering technology and its influences on fintech and financial services industries, I share how fate brought me to Atomic’s universe of payroll connectivity, how I juggle my workday and allocate my spare time to feel and do the best work of my life. Between meetings, intermittent fasting, and Freddie Mercury-themed Peloton rides, there’s never a dull moment in my day.

Read the full story

 


 

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