Fintech instruments usually fail gig staff. We spoke with Ualett CEO Ricky Michel Presbot about what actual inclusion in monetary methods requires.
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The gig economic system has lengthy been handled as a short lived resolution. A stopgap. One thing many enter, few stay in, and even fewer design for. But in the present day, it’s a sturdy and rising phase of the workforce — one which continues to face structural exclusion from monetary methods constructed for various assumptions.
Regardless of the regular rise in impartial, app-based labor, gig staff nonetheless confront obstacles in securing honest and quick entry to capital. Legacy underwriting fashions, designed round salaried employment and predictable earnings, usually exclude this group by default. The result’s a rising disconnect between how individuals earn and the way they’re financially supported.
At FinTech Weekly, we have adopted how fintech platforms are starting to shut this hole. However for a lot of, progress stays centered on beauty change — constructing interfaces that look fashionable, whereas nonetheless resting on outdated standards and restricted flexibility. What’s wanted is a structural rethinking of how monetary merchandise are designed, deployed, and supported for non-traditional earners.
That requires not solely innovation, however lived understanding — a sensible consciousness of how belief, money circulation, and help methods work in a different way for individuals outdoors customary payroll. It is about making choices round eligibility, pricing, and compliance that mirror the true situations of the individuals these instruments declare to serve.
To discover this additional, we spoke with Ricky Michel Presbot, Co-Founder and CEO of Ualett, a bilingual fintech platform centered on the U.S. gig economic system. With over 20 years of expertise constructing firms in fast-moving, impact-driven sectors, Ricky brings a disciplined perspective on what it takes to design monetary methods for agility, readability, and inclusion — from the bottom up.
Benefit from the full interview!
1) You’ve spent a lot of your profession centered on fast-moving markets and underrepresented consumer teams. What first signaled to you that the prevailing monetary system wasn’t designed for gig staff?
What stood out to me early on was the disconnect between how onerous gig staff have been working and the way few choices they needed to handle their money circulation. I keep in mind spending time with rideshare drivers and supply couriers in Miami and New York, listening to them share the identical story: conventional banks required a set paycheck or years of employment historical past to even begin a dialog.
In the meantime, these staff had verified day by day earnings and nonetheless couldn’t entry short-term liquidity on honest phrases. That hole, between actual earnings and outdated necessities, was the clearest sign that the system wasn’t constructed for them.
2) Conventional credit score methods rely closely on mounted earnings and long-term employment historical past. In your expertise, what are probably the most crucial gaps these methods expose when utilized to impartial staff?
The largest gaps are round pace, inclusivity, and accuracy. Conventional underwriting usually assumes that in the event you don’t have a W2 or a credit score file, you’re excessive threat. However for gig staff, earnings is actual, it’s simply extra variable.
That variability doesn’t match neatly into legacy fashions. Consequently, thousands and thousands of persons are both excluded or charged punitive charges. One other hole is cultural: many underbanked staff come from communities which might be skeptical of economic establishments as a result of they haven’t felt revered or understood.
3) Designing for non-traditional earners requires completely different assumptions about money circulation, threat, and belief. What’s one thing your work has taught you about how monetary instruments must adapt structurally, not simply visually, for this phase?
Probably the most essential classes is that you would be able to’t simply re-skin a conventional product. Structurally, you could rethink underwriting, remittance expectations, and even buyer help. In my expertise, approving advances based mostly on verified gig earnings ( precise day by day money circulation relatively than historic credit score) could make entry sooner and fairer.
Flat-fee pricing with no hidden expenses helps construct belief from day one. And operationally, you could arrange a bilingual again workplace to make sure customers may ask questions of their most popular language. True inclusivity requires rethinking methods, not simply interfaces.
4) You’ve labored throughout technique, operations, and management. What operational choices have the most important downstream impression when making an attempt to serve financially underserved or unpredictable consumer teams?
Two choices stand out. First, the way you confirm earnings and assess eligibility. Many organizations put money into partnerships with platforms like Plaid and Argyle to construct real-time knowledge pipelines so our underwriting could possibly be dynamic and honest.
Second, the way you deal with help and schooling. For a lot of customers, this is perhaps their first time utilizing a digital monetary product. Having a high-touch, bilingual help staff isn’t a nice-to-have, it’s core to constructing lasting relationships. These two areas, trust-based underwriting and accessible help, set the tone for every part else.
5) We’re seeing extra platforms evolve into “monetary hubs” for customers, combining a number of instruments in a single place. What challenges come up when making an attempt to maneuver from a single-purpose product to a extra holistic monetary expertise?
Increasing from a centered providing like money advances right into a broader platform requires self-discipline. It’s important to be clear about why customers belief you and the way new options will complement that belief, not dilute it.
For instance, some firms purpose to evolve into neobanks for gig staff, however each step (like introducing debit playing cards or credit-building instruments) must be rolled out in a method that retains pricing clear and the expertise easy. As you layer in new capabilities, you need to make sure you’re sustaining rigorous requirements with out introducing friction or confusion for customers who worth pace and readability.
6) Many gig staff cross language, authorized, and regulatory boundaries. How do you consider constructing monetary methods that stay accessible throughout numerous communities with out compromising compliance or readability?
It begins with listening. Early on, spending time immediately within the subject to grasp customers’ wants firsthand made it clear that readability and transparency are non-negotiable. Structurally, investing in multilingual help, culturally related schooling, and partnerships will help forward of regulatory modifications.
From a compliance perspective, work with trusted companions to make sure processes meet monetary knowledge requirements whereas remaining user-friendly. The secret is balancing rigor with respect, ensuring individuals really feel knowledgeable, not intimidated.
7) For fintech founders tackling infrastructure gaps in missed markets, what’s your recommendation on balancing urgency with long-term resilience in product and enterprise design?
Deal with self-discipline over hype. From the beginning, the precedence must be profitability, sustainable unit economics, and constructing belief with each advance. That meant scaling at a tempo that enables time to refine underwriting and operations earlier than increasing into new segments.
My recommendation is to remain near your prospects, spend time with them, perceive their day-to-day challenges, and let that information your roadmap. When you resolve actual issues with transparency and respect, resilience turns into a part of your basis.
About Ricky Michel Presbot:
Ricky Michel Presbot is the Co-Founder and CEO of Ualett, a bilingual fintech platform constructed for the U.S. gig economic system. A proud Dominican entrepreneur with 20+ years of expertise in enterprise growth and strategic management, Ricky has constructed his profession round scaling impact-driven firms and fueling innovation in fast-moving markets.
At Ualett, he leads progress, operations, and strategic path, centered on positioning the corporate as a trusted monetary ally to impartial staff nationwide. His management combines big-picture considering with operational rigor, enabling groups to execute with pace, goal, and precision.
Ricky holds an MBA and brings deep experience in market technique, staff management, and fintech product innovation. Underneath his management, Ualett has turn out to be a class chief in inclusive capital entry, delivering quick, clear monetary instruments tailor-made to the true wants of gig staff. His method is disciplined, resilient, and rooted in long-term worth creation for each the enterprise and the communities it serves.