Medallion Bank has partnered with Kashable, a financial coaching and wellness support platform, to offer lending products focused on employees.

The collaboration leverages Medallion Bank's expertise in lending and partnerships while utilizing Kashable's platform to evaluate borrowers beyond credit scores alone. Kashable intends to expand its reach by providing access to affordable credit with automated repayments through integrations with HRIS and payroll systems.

The partnership aims to expand Medallion Bank's consumer finance reach while allowing Kashable to offer its affordable personal loans to a broader customer base of working Americans. Medallion Bank will launch personal loans on the Kashable platform, leveraging Kashable's platform capabilities to introduce its services to employers, benefit administration platforms, marketplaces, and industry brokers.

Analyst QuickTake: Kashable’s recent partnership with BrightDime nearly five months ago was also focused on expanding its product reach by offering free personalized financial coaching and money management tools to over 170,000 employees. These collaborations align with Kashable’s expansion plans and product development roadmap of providing new financial wellness services and enhancing its capabilities to extend affordable credit to employees across the credit spectrum through its Series B funding of USD 25.6 million raised early this year.