Financial services platform Welcome Technologies announced Wednesday it is teaming up with direct deposit API firm Atomic to extend its financial services offering for immigrant customers, many of whom lack direct access to bank accounts.

The partnership between Atomic and Welcome Tech will enable direct deposits for about 3 million account holders and 9 million users of Welcome Tech’s platform, the firm said in a statement.
The financial services platform offers bank accounts to customers who lack credentials required by traditional banks, such as a Social Security number, via a link up with Green Dot Corporation, a bank holding company and financial technology provider.
Green Dot was granted a banking license in 2011 following its acquisition of Bonneville Bank and has also previously worked on expanding banking services to underbanked populations through partnerships with Walmart and Remitly.
“Our partnership with Welcome Tech is about bringing financial services to the Hispanic community that has largely been unserved and underserved,” Lindsay Davis, head of markets at Atomic, told Bank Automation News.
Atomic’s APIs, or software gateways, are integrated with an employer’s payroll management system and provide workers with faster access to wages through digital channels and can help wean workers off cash payments and payroll cards, Atomic told BAN.
“Our goal is to continue to demystify and create access to previously elusive opportunities, such as financial resources,” Amir Hemmat, chief executive at Welcome Tech, said in a statement. A leading provider of payroll integration software, Atomic said that its APIs cover 65% of the U.S. workforce with a combined reach of 95 million workers.
Started in 2019, Atomic has raised $13.6 million from investors, including Core Innovation Capital and Greylock. Welcome Technologies, founded in 2010, has raised a total of $43 million in funding from investors like Owl Ventures and TTV Capital, according to Crunchbase.





