Redefining banking for freelancers and the gig-economy

Posted on May 22, 2019

I recently heard about Oxygen a new challenger bank in the US. Oxygen is designed for freelancers and gig-economy workers who have a lack of predictable salary, which results in the inability to gain credit.

Screenshot from Oxygen bank

As a freelancer, you might have weeks or months whilst working on a project without getting paid – but you know the next pay cheque is around the corner.

This new income-model doesn’t necessarily fit with traditional banking. Banks want to be able to prove that you’ll be able to repay any money they lend you and without suitable indicators (property, stock, credit history) that you will repay, then its often a “no way, Jose” to requests for credit.

However, the world of work is changing and for many people, and an increasing number of people, this way of working has become the norm.

Using human-centred design and the power of UX to make banking easy is something that the industry needs more of to keep up with changing expectations about work and money.



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