Wysh Adopts Helix by Q2 Platform for Savings Account with Embedded Insurance

Wysh can now offer high-yield savings accounts bundled with no-cost micro life insurance to serve America’s underserved communities.

(Image source: Helix by Q2.)

Helix by Q2 (Austin, Texas), a platform for embedded finance, has announced that Wysh (Milwaukee, Wisc.) can now offer its new high-yield savings account with embedded micro life insurance to its customers through Helix’s embedded finance solution. Savings+, Wysh’s new product, couples high-yield savings with life insurance without the need for underwriting and works to help underserved communities gain insurance protection at no cost, according to a statement from Helix. Savings+ offers a 4.00 percent Annual Percentage Yield rate and can unlock up to $10,000 in no-cost life insurance.

Alex Matjanec, founder, Wysh.

According to a Helix statement, account holders need no medical underwriting to receive the life insurance and there are no minimums, no fees, and no lock-ins. Savings+ is designed to offer peace of mind for account holders whose beneficiaries would receive up to an additional 10 percent of life insurance value on top of their savings account balance in the form of a life insurance payout.

“Savings+ expands financial protection to those historically left out, offering both growth and peace of mind,” comments Alex Matjanec, founder, Wysh. “It’s more than an account; it’s a symbol of our promise to provide financial protection for all. We’re grateful to partner with Helix by Q2 to bring Savings+ to all Americans. As the first solution of its kind in America, Savings+ redefines the meaning of financial security, allowing growth in savings with an added layer of life insurance. It’s a new era, and we’re leading the way.”

Ahon Sarkar, General Manager, Helix by Q2.

Helix reports that it serves more than 14 million users nationwide. The company offers what it calls the building blocks of banking—accounts, cards, payments, data and controls, administrative tools and monetization solutions—in a single location, making it easier for companies to embed personalized financial experiences in the context of the applications that people use in their daily lives.

Making Financial Products Accessible

“Helix’s mission is to make finance human and through that mission we work to serve the underserved,” comments Ahon Sarkar, general manager, Helix by Q2. “In doing so, we have the privilege to partner with companies, like Wysh, who are making financial products accessible to everyone. Savings+ is a game changer for account holders who cannot afford life insurance or who want extra security for their beneficiaries. We’re excited to see the change Wysh will affect with their new Savings+ product.”

The Integration of Insurance Products in Traditional Wealth Management: Strengthening Financial Well-Being

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

Leave a Comment