Enable residents to earn weekly pay
to do
Kanav Jain (CEO, Andwise)
With the Andwise Payday Advance, users can access quick and convenient funds to cover unexpected expenses or temporary cash flow shortages. We will partner with reputable lenders to offer competitive interest rates and fees that are transparent and easy to understand. Borrowing amounts will be limited to a percentage of expected paychecks to ensure responsible borrowing behavior.
We prioritize responsible borrowing behavior by requiring proof of income and incentivizing users to repay their loans on time through lower interest rates or waived fees. Our lending feature is designed to promote financial responsibility and help residents build positive credit histories.
In addition to the lending feature, our financial superapp offers budgeting tools, investment advice, and retirement planning resources to help medical residents make informed financial decisions and prepare for their future financial goals.
Kanav Jain (CEO, Andwise)
By partnering with the right financial institution[s], Andwise could offer a secure, convenient, and flexible option for medical residents to access their earned wages
Residents need access to their earned wages—but currently have to wait for traditional payroll cycles
Providing residents with a payday advance would provide quick and convenient access to cash
If sold through employers, establishing this product would help build relationships between medical care providers and their residents. However, we don't necessarily need to involve employers or deal with integrating this into their payroll systems...
This product would benefit both residents and care providers by increasing financial flexibility, creating convenience, and enabling long-term financial planning
Kanav Jain (CEO, Andwise)
to do
Definitely want to do this in the future!