Finance

Quext Buys Majority Stake in Fintech Viva Fairness Creating Embedded Finance Alternative in Multi-family Proptech

LUBBOCK, Texas–(BUSINESS WIRE)–Quext, a wise constructing and property administration platform constructed by multi-family and residence business specialists, right now introduced its majority stake acquisition of Viva Fairness. Viva Fairness’s present product choices are Viva First, the primary digital financial institution constructed with Latinos in thoughts—developed to empower and dignify banking for the Spanish language neighborhood— and Relm, a way of life banking app focused to varsity college students, renters and underserved communities. This revolutionary partnership prioritizes the unbanked and under-banked, by offering them with instruments to turn into financially safe, whereas concurrently reducing operators’ prices. For the Quext core platform, being able to make the most of embedded finance know-how opens the door for quite a few improvements within the proptech area.

“We deal with finance with no consideration, not a privilege,” stated Jim Simpson, co-founder of Viva Fairness. “Viva First and Relm fill an enormous hole out there by providing banking companies to people who is perhaps missed elsewhere. Our partnership with Quext, an progressive proptech options developer, permits us to higher help the communities we serve by tapping into the thriving multi-family housing business.”

Viva Fairness’s method to monetary literacy supplies the consumer with the instruments wanted to make monetary selections on their very own. Powered by machine studying know-how, Viva Fairness’s cell banking options have been designed to assist underserved populations construct credit score, encourage economically savvy decision-making, and set customers up for fulfillment of their future monetary endeavors. By providing banking choices for everybody, Viva Fairness paves the best way for extra inclusive and handy banking and fee choices throughout the business.

“Buying Viva Fairness was a pure match for us due to our shared mission to place the resident first,” stated Dave Gilles, CEO of Quext. “Quext will go to any size to enhance the lives of our residents and operators, and Viva Fairness supplies the best avenue for us to do this. In our mission to democratize know-how options, the chance to leverage embedded finance throughout the Quext core platform is an incredible benefit. Viva Fairness shares that very same core very best.”

One clear instance of those synergies is a plan to remove in-person lease funds. As we speak, a excessive share of residents in workforce housing pay their lease via cash orders, which could be very inconvenient for the resident and operator alike. They’re additionally extremely vulnerable to fraud and current further prices to each events. Viva Fairness helps a largely unbanked inhabitants get hold of financial institution accounts, lower your expenses by eliminating verify cashing charges and make funds through debit and bank cards. For multi-family operators, this answer eliminates time-consuming handbook entry, opening a possibility to higher serve residents.

Quext will function a few of these options on the Nationwide Residence Affiliation’s Apartmentalize convention August 31 – September 2, in Chicago.

About Quext

Quext is a game-changing know-how and software program firm that makes smarter selections brilliantly easy. Created by business specialists, Quext reimagines residence know-how with merchandise that work seamlessly collectively delivering the easiest-to-learn, most intuitive, all-in-one, cloud-based residence neighborhood nerve middle ever supplied. Core platform improvements embody web of issues, property administration, digital human buyer help, high-speed web, and property web sites. Quext is a people-centric agency backed by Madera Residential, an business chief in multi-family housing funding and property administration. Headquartered in Lubbock, TX, the corporate was acknowledged as a winner of the Fierce Wi-fi IoT Problem 2020. To study extra, go to https://onequext.com/ or observe us on Fb at https://www.fb.com/onequext.

About Viva Fairness

Viva Fairness is a monetary know-how agency targeted on embedded finance options for underserved communities. Based by nationally acknowledged banking technologists and skilled business executives, Viva Fairness created the primary digital-only financial institution, Viva First, designed with the Latino neighborhood in thoughts. Together with its school scholar targeted answer, Relm, Viva Fairness creates extremely personalised social way of life and monetary companies with a coronary heart and deal with the unbanked and under-banked. Using machine studying, training and native language, Viva Fairness strives to take away obstacles and dignify banking companies utilizing distinctive know-how options. To study extra, go to Viva Fairness, Viva First and Relm on-line. Comply with us on Fb at https://www.fb.com/MyVivaFirst.

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