The U.S. employment model is rapidly changing, and with it the face of the modern workforce. Independent work was the fastest growing segment in 2020, and Gen Z workers have already foregone the traditional paystub in exchange for multiple, diverse incomes. And technology plays a major role in this change. Platforms like Upwork and Fiverr help workers find jobs and get paid; Etsy and Ebay provide digital storefronts; and social media channels generate income for independent creators.
This new era meets a financial service industry slow to catch up. Processes and practices like onboarding, underwriting, product offerings are built, and remain, for the traditional 1099 workers. Banks and lenders are faced with adapting their workflows and adopting new technologies in order to meet the needs for modern gig workers.
Employment data platform Argyle aggregates the full spectrum of a worker’s employment data across any and all platforms, and allows them to easily extract and share it with financial services companies. Argyle leverages employment data to help with a number of use cases, from income verification and tax monitoring to credit underwriting and work-linked lending.
Download the white paper for an in-depth understanding of:
- The changing nature of work, and the forces at play
- The central role of technology in shaping the new workforce
- How Argyle’s widget streamlines the pulling and sharing of data