Flex joins AFC to improve housing security for US renters

The American Fintech Council (AFC) has announced the inclusion of Flex as its newest member. This move comes amid growing concerns over housing affordability, with a significant portion of American renters struggling to meet rent payments on time. The AFC aims to address these challenges by promoting innovative financial solutions that support renters in maintaining housing stability and reducing financial stress.

According to recent data, national rents have increased by 5.8%, placing additional pressure on households where 63% of Americans live paycheck-to-paycheck. Flex offers flexible rent payment options designed to align with tenants' pay schedules, helping them avoid late fees and potential eviction.

Phil Goldfeder, CEO of the American Fintech Council, stated, “Flex exemplifies AFC’s mission to foster responsible innovation and financial inclusion, offering renters a solution that directly addresses affordability challenges.” He emphasized how Flex's services empower families to manage their payments more effectively.

Since its inception in 2019, Flex has assisted over one million renters in managing their monthly expenses. The service is structured with protective measures for users, such as no compounding interest or late fees and the option to pause or cancel services at any time. By enabling split payments and credit history building, Flex seeks to ease financial burdens while providing benefits for property owners through consistent rent collection.

Ryan Metcalf, Vice President of Public Affairs at Flex, commented on the partnership: “As renters face record-high cost burdens and late fees compound financial pressures, Flex delivers solutions that empower them to pay rent on their terms while managing cash flow and reducing stress.”

The AFC represents leading fintech companies and banks focused on embedded finance solutions. Its mission is centered around promoting a transparent and inclusive financial system through responsible innovation.

Flex continues its efforts in transforming rental experiences by offering seamless online payment options that facilitate credit building for renters across the nation.