WebBank, a Steel Partners Company, Honored as One of American Banker’s Best Places to Work in Financial Technology 2024

Rhea-AI Summary

WebBank, a subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named one of the 2024 Best Places to Work in Financial Technology. This marks the second year in a row that WebBank has earned this recognition, ranking ninth among forty companies. The awards, managed by Arizent and Best Companies Group, highlight excellence in workplace culture in the fintech industry. WebBank's leadership attributes this achievement to their focus on innovation and an empowering work environment. Despite challenges in the fintech sector, the recognition underscores WebBank's commitment to creating jobs and fostering a positive workplace. The 2024 list was published on May 6, 2024.

Positive

• WebBank ranked ninth in the 2024 Best Places to Work in Financial Technology, demonstrating a strong workplace culture.
• Recognition for the second consecutive year, indicating consistent excellence.
• Acknowledged for its commitment to innovation and employee empowerment.
• The publication of the list by reputable sources like American Banker and National Mortgage News lends credibility to the accolade.
• The award highlights WebBank's role in job creation and industry innovation amid sector challenges.

Negative

• The fintech industry faced significant headwinds in the past year, potentially impacting WebBank's operational environment.
• The recognition, while positive, does not directly address financial performance or profitability, which are important for shareholders.

SALT LAKE CITY--(BUSINESS WIRE)-- WebBank, a wholly owned subsidiary of Steel Partners Holdings (NYSE: SPLP), has been named one of the 2024 Best Places to Work in Financial Technology. This is the second year in a row WebBank has been named a winner, ranking ninth on the list of forty companies. The awards program was created in 2017 and is a project of Arizent and Best Companies Group.

This annual survey and awards program is designed to identify, recognize, and honor the best employers in the financial technology industry. Companies recognized on this year’s list operate in and serve companies and consumers in a wide range of financial services including banking and mortgages, insurance, payments and financial advisory.

“Cultivating a workplace culture where innovation thrives and every team member feels empowered to contribute to our success is central to our vision,” said Jason Lloyd, WebBank President & CEO. “Being recognized as a 2024 Best Place to Work in Fintech is a testament to the dedication of our incredible team who continually drives us towards greater success.”

“I am thrilled to celebrate WebBank’s recognition as a Best Place to Work in Fintech,” said Warren Lichtenstein, Executive Chairman of Steel Partners Holdings. “This achievement is a testament to WebBank’s best-in-class culture that is deeply rooted in our shared values of teamwork, respect, integrity and commitment.”

The 2024 list included 40 companies and was published by Arizent brands American Banker, National Mortgage News, PaymentsSource, Financial Planning and Digital Insurance on May 6, 2024.

"Though the fintech industry has faced many headwinds in the past year, the sector is still a vital cog in financial services, bringing ease of use and convenience to consumers and businesses," said Penny Crosman, executive editor, technology at American Banker. "This year's list honors companies that continue to innovate and create jobs for technologists."

To be considered for participation, companies must provide technology products, services or solutions that enable the delivery of financial services. Companies must also have been in business for at least one full year and employ at least 15 people in the U.S.

Companies from across the United States entered a two-part survey process to determine Arizent’s Best Places to Work in Financial Technology. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems, and demographics. The second part consisted of an employee survey to measure the employee experience. The combined scores determined the top companies and the final ranking. Best Companies Group managed the overall registration and survey process, analyzed the data, and determined the final ranking.

About WebBank

WebBank is a Utah chartered Industrial Bank headquartered in Salt Lake City, Utah. Since its inception in 1997, WebBank has originated and funded over $190 billion in consumer and commercial credit products. As “The Bank Behind the Brand^®”, WebBank is a national issuer of consumer and small business credit products through Strategic Partner (Brand) platforms, which include retailers, manufacturers, finance companies, software as a service (SaaS) and financial technology (FinTech) companies. The Bank is a leading player in the digital lending space, driving innovation in financial products through embedded finance with Strategic Partner platforms. WebBank engages in a full range of banking activities including consumer and commercial loan products, revolving lines of credit, credit cards, private-label card issuance, auto-refinancing and more. The Bank provides capital in the form of asset-based lending and other credit facilities to Strategic Partner platforms, credit funds, and other lenders with a targeted focus on specialty finance assets. The Bank is also a leading provider of commercial insurance premium finance products through its wholly owned subsidiary National Partners. For more information, please visit www.webbank.com.

For more information on Arizent’s Best Places to Work in Financial Technology program, including full eligibility criteria, visit www.BestPlacestoWorkFinTech.com or contact Penny Crosman at penny.crosman@arizent.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240516155750/en/

Media Contact:

Shannon Hutchings

shannon.hutchings@webbank.com



Investor Contact:

Jennifer Golembeske

212-520-2300

jgolembeske@steelpartners.com

Source: WebBank

FAQ

What is WebBank's ranking in the 2024 Best Places to Work in Financial Technology?

WebBank ranked ninth among forty companies.

How many times has WebBank been recognized in the Best Places to Work in Financial Technology list?

WebBank has been recognized for the second consecutive year.

What is the significance of WebBank's recognition in 2024?

The recognition highlights WebBank's strong workplace culture, focus on innovation, and employee empowerment.

Who manages the Best Places to Work in Financial Technology awards program?

The awards program is managed by Arizent and Best Companies Group.

When was the 2024 Best Places to Work in Financial Technology list published?

The list was published on May 6, 2024.

What challenges did the fintech industry face recently?

The fintech industry faced significant headwinds in the past year, impacting the operational environment.