), is a North American leader in consumer Fintech Software-as-a-Service in the Banking-as-a-Service market segment. Hank platforms manage consumer cash flow and budgets on an automated basis using proprietary algorithms that collect, store and disburse cash as required to discharge obligations in a timely fashion. Hank’s vertical market technology brings to bear enhanced features for Enterprise customers that wish to help their users and themselves manage payments and cash.
By law, excess funds must be distributed to students within fourteen days of receipt and the Hank portal allows colleges to prepare and load files to disburse and trigger the disbursements in a timely manner. Students receive notifications and secure links to their disbursements, allowing them to receive funds immediately using various payment protocols provided by Hank, while the colleges receive accurate digital records automating much of their manual processes.