Esquire Financial Holdings, Inc. Announces Partnership With Assure Disability To Offer Serve® Prepaid Cards For Social Security Disability Claimants

Rhea-AI Summary

Esquire Financial Holdings (NASDAQ: ESQ) has partnered with Assure Disability to enhance Social Security Disability (SSD) payment solutions through the Serve® prepaid card. This collaboration aims to streamline SSD payments for law firms and clients, leveraging Assure's advanced technology and extensive client base of over 100,000 SSD claimants annually. The Serve® reloadable prepaid card, distributed by InComm Payments, will provide more secure and flexible access to settlements while reducing administrative burdens for law firms and claimants.

Positive

• Partnership with Assure Disability enhances SSD payment solutions.
• Access to over 100,000 SSD claimants via Assure's platform.
• Serve® prepaid card offers flexibility and security for claimants.

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• None.

JERICHO, N.Y., July 27, 2021 /PRNewswire/ -- Esquire Financial Holdings, Inc. (NASDAQ: ESQ) ("Company"), the financial holding company for Esquire Bank, National Association ("Esquire"), today announced that Esquire has signed an exclusive agreement with Assure Disability LLC ("Assure"), a leading fintech provider in the Social Security Disability ("SSD") vertical that provides critical services to law firms, attorneys and SSD claimants nationally. 

"Coupling Assure's technology and national platform with the Serve® reloadable prepaid card product will transform SSD payments for law firms and their clients on a national basis," stated Andrew C. Sagliocca, President & CEO of Esquire.

As previously announced in March of 2021, Esquire signed an exclusive agreement with InComm Payments, a global leading payments technology company, to offer prepaid card services under the Serve® brand for SSD payments. InComm Payments became the exclusive distributor of American Express's prepaid reloadable and gift card products in the U.S. and acquired the Serve® technology platform in 2018. The Serve® product offered as part of this agreement with Esquire will be a Serve® Card issued by American Express.

"Assure has more than 100,000 prospective SSD claimants per year visit their website, matching those claimants with qualified law firms and attorneys within their geographic area to expedite the claims administration process for injured consumers," stated Robert Higgins, President & CEO of Assure. "Assure offers a consolidated approach to disability scheduling for hearings through its unique technology platform, allowing lawyers to schedule multiple hearings per day."

Assure has a best-in-class technology solution for law firms and claimants in the SSD vertical. The partnership between Assure and Esquire will help transform SSD payments to an innovative settlement solution that gives the claimants more flexible, secure access to their settlements and reduces administrative burdens.

For more information about Esquire, visit esquirebank.com. For more information about Assure, visit myassureservices.com. For more information about Serve, visit serve.com.

About Esquire Financial Holdings, Inc.

Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York, with one branch office in Jericho, New York and an administrative office in Boca Raton, Florida. Its wholly-owned subsidiary, Esquire Bank, National Association, is a full-service commercial bank dedicated to serving the financial needs of the litigation industry and small businesses nationally, as well as commercial and retail customers in the New York metropolitan area. The bank offers tailored financial and payment processing solutions to the litigation community and their clients as well as dynamic and flexible merchant payment processing solutions to small business owners. For more information, visit www.esquirebank.com.

About Assure Disability

Assure Disability is a legal services company that helps Social Security disability representatives bring premium products and services to their clients.  Assure Disability also provides technical solutions that let disability representatives maximize their earning potential by lowering representative costs and expanding revenue opportunities.  Headquartered in Fort Worth, Texas, Assure Disability manages a network of over 1,000 disability attorneys and has handled more than a quarter million disability hearings nationwide.  With technical offerings like Atlasware, Assure Disability manages over 30,000 cases each month for disability representatives.  To learn more, visit www. myassureservices.com.

About InComm Payments

InComm Payments is a global leader in innovative payments technology. Leveraging dynamic technology and proven expertise, InComm Payments delivers enhanced end-to-end payment platforms and emerging financial technology solutions that help businesses +grow across a wide range of industries including retail, healthcare, tolling & transit, incentives, mobile payments, and financial services. By enabling omnichannel connections to an ever-expanding consumer base in an increasingly digital ecosystem, InComm Payments creates seamless and valuable commerce experiences across the globe. With more than 29 years of experience, over 500,000 points of distribution, 402 global patents and a presence in more than 30 countries, InComm Payments leads the payments industry from its headquarters in Atlanta, Ga. Learn more at www.InCommPayments.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes "forward-looking statements" relating to future results of the Company. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to: changes in business plans as circumstances warrant; changes in general economic, business and political conditions, including changes in the financial markets; and other risks detailed in the "Cautionary Note Regarding Forward-Looking Statements," "Risk Factors" and other sections of the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. The forward-looking statements included in this press release are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "attribute," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "goal," "target," "outlook," "aim," "would," "annualized" and "outlook," or similar terminology. Further, given its ongoing and dynamic nature, it is difficult to predict the full impact of the COVID-19 outbreak on our business. The extent of such impact will depend on future developments, which are highly uncertain, including when the coronavirus can be controlled and abated and when and how the economy may be reopened. As the result of the COVID-19 pandemic and the related adverse local and national economic consequences, we could be subject to any of the following risks, any of which could have a material, adverse effect on our business, financial condition, liquidity, and results of operations: the demand for our products and services may decline, making it difficult to grow assets and income; if the economy is unable to substantially reopen, and high levels of unemployment continue for an extended period of time, loan delinquencies, problem assets, and foreclosures may increase, resulting in increased charges and reduced income; collateral for loans, especially real estate, may decline in value, which could cause loan losses to increase; our allowance for loan losses may increase if borrowers experience financial difficulties, which will adversely affect our net income; the net worth and liquidity of loan guarantors may decline, impairing their ability to honor commitments to us; as the result of the decline in the Federal Reserve Board's target federal funds rate to near 0%, the yield on our assets may continue to decline to a greater extent than the decline in our cost of interest-bearing liabilities, reducing our net interest margin and spread and reducing net income; and our cyber security risks are increased as the result of an increase in the number of employees working remotely. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law.

 

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SOURCE Esquire Financial Holdings, Inc.

FAQ

What is the partnership between Esquire Financial Holdings and Assure Disability about?

Esquire Financial Holdings has partnered with Assure Disability to improve the Social Security Disability payment process by offering the Serve® prepaid card.

How many SSD claimants does Assure Disability serve annually?

Assure Disability serves over 100,000 SSD claimants each year through its technology platform.

What is the significance of the Serve® card in this partnership?

The Serve® card will provide SSD claimants with secure and flexible access to their settlements while simplifying the payment process for law firms.

Who distributes the Serve® prepaid card?

The Serve® prepaid card is distributed by InComm Payments, a leading payments technology company.

When was this partnership announced?

The partnership between Esquire Financial Holdings and Assure Disability was announced on July 27, 2021.