Talenthouse, the global platform connecting creatives with brands and celebrities, Vodeno, a cloud-native Banking-as-a-Service provider, and Aion Bank, a European licensed digital bank and credit institution regulated in Belgium, today announced that they have joined forces to launch embedded banking services for creatives in Europe.
Talenthouse, which has a diverse global network of more than three and half million creatives and over 14 million members, sees first-hand some of the banking challenges its community faces. Getting paid can be slow; foreign exchange charges are high; obtaining credit is hard and expensive; investment products are typically out of reach; and hidden fees abound.
As a result, Talenthouse sees the opportunity to do banking for creatives better, providing contextual financial services that are tailored to the community’s specific needs. With the help of Vodeno and Aion Bank, Talenthouse will launch its banking service, called ElloU, which will remove friction and fees, speed up payments and give creatives access to better financial services, such as income advances. Talenthouse is best placed to develop this first-of-its-kind solution for the creative community given its deep understanding of how creatives work and their earning potential.
Talenthouse selected Vodeno and Aion Bank as its partners for embedded banking after a careful selection process. The VODENO Cloud Platform is one of the most comprehensive banking platforms that covers all aspects of Retail and Business banking activities. Vodeno also partners with Belgium-based and ECB licensed Aion Bank to support regulated services and provide clients with the compliance, security and guarantees of a European bank.
ElloU will be rolled out in phases. First, this month, it will be rolled out to European creatives using the Talenthouse platform, then to Jovoto users next month, to EyeEm users early next year, and, ultimately, all of the Talenthouse group platforms. Talenthouse is also looking over time to take the ElloU service to the US, UK and other creative hubs.
Clare McKeeve, Talenthouse CEO, commented: “More people are joining the Talenthouse ecosystem every day, deciding to earn their living by pursuing their passion. Our goal is to ensure that creatives who exercise professional freedom to do what they love don’t sacrifice their financial freedom. Providing money management services is key to this. It starts with cheaper and simpler banking services, but after that it is about giving creatives access to all of the services, banking and non-banking, that enable them to achieve financial freedom alongside professional freedom. This is the journey we’ve embarked on, together with Vodeno and Aion Bank, by launching ElloU.”
Tom Bentley, Chief Commercial Officer, Vodeno, added: “Today, customers are no longer limited to banks to access banking services. With the fully cloud-based Banking-as-a-service solution we developed at Vodeno, and in partnership with Aion Bank, we can power any brand or platforms like Talenthouse to provide financial services directly to their customers. With Talenhouse, embedded banking allows them to create a truly frictionless ecosystem where their members can find projects and get paid for their work in one seamless environment. Embedded banking opens up new commercial opportunities for brands, and for Talenthouse and ElloU, it will unleash the potential of their creative community.”