# Meet Tilak Joshi: the fintech CEO building modern solutions for the gig economy Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-12-21 Category: FINANCE Category URL: https://financedigest.com/category/finance Meta Title: Financial Services Platform for Gig Workers | How Lean Meta Description: Learn how Lean, founded by a former NASA engineer turned fintech executive, is revolutionising financial services for the underserved independent workforce in URL: https://financedigest.com/meet-tilak-joshi-the-fintech-ceo-building-modern-solutions-for-the-gig-economyhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fintech-crown-1736814700729-compressed.jpg) ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/tilak-joshi-1736814700276-compressed.jpg) **What is your ‘backstory’ and how did you get started?** I started my career as an engineer at NASA and eventually made the jump into fintech and product management. Previously I led data products at PayPal, took on my first exec role as Vice President of Product at American Express, and eventually moved into a GM role as Head of the Consumer [Finance business](https://www.financedigest.com/6-ways-to-spring-clean-your-business-finances.html "6 ways to Spring clean your business finances") at Intuit, where I lead Mint, Turbo, Financial Identity, and the business side of the M&A strategy that resulted in the acquisition of CreditKarma. When I became a father, I felt I needed to reconsider my work’s tie to my values and roots. This experience pushed me to my role as [head of Mint and then to founding Lean — a financial](https://www.financedigest.com/the-hidden-financial-woes-of-international-students-heading-for-the-uk.html "The Hidden Financial Woes of International Students Heading for the UK") benefits platform that focuses on the most underserved segment in the US: gig workers. **What is Lean’s mission? Do you foresee it** [changing or shifting over time?](https://www.financedigest.com/why-the-time-is-right-for-finance-to-embrace-digital-change.html "Why the time is right for finance to embrace digital change") Lean’s mission is to [level the playing field](https://www.financedigest.com/using-agility-to-resist-economic-instability-and-level-the-playing-field.html "Using agility to resist economic instability and level the playing field") by increasing access to financial services. Currently, the Lean team and I are focused on [partnering with marketplaces to support](https://www.financedigest.com/gumgum-partners-with-the-ad-council-on-support-for-ukraine.html "GUMGUM PARTNERS WITH THE AD COUNCIL ON SUPPORT FOR UKRAINE") as many independent and flex workers as possible. After all, 2027 estimates reveal that a [huge portion of the American workforce](https://www.financedigest.com/impact-com-announces-huge-investment-in-workforce-with-raft-of-new-hires-globally.html "impact.com announces huge investment in workforce with raft of new hires globally") will take up independent work. As of now, this work-class sector is underbanked and underserved, resulting in over 60% of independent workers struggling to make [ends meet](https://www.financedigest.com/with-progress-in-creditor-talks-malaysias-airasia-x-targets-end-oct-meetings.html "With progress in creditor talks, Malaysia’s AirAsia X targets end-Oct meetings"). [Financial needs are only the tip](https://www.financedigest.com/5-tips-for-financial-fitness-in-2021.html "5 tips for financial fitness in 2021") of the iceberg when considering the daily struggle that gig workers endure. For instance, many lack proper access to healthcare and 30% don’t have adequate access to [auto insurance](https://www.financedigest.com/working-from-home-heres-how-you-can-save-money-on-your-auto-insurance.html "Working From Home? Here’s How You Can Save Money on Your Auto Insurance"). At Lean, we’re determined to open access to financial products that the majority of this segment can’t access, including [retirement plans](https://www.financedigest.com/should-i-roll-my-old-retirement-plans-into-a-roth.html "Should I Roll My Old Retirement Plans into a Roth?"), mortgages, and rentals **How will your [current project](https://www.financedigest.com/polycaprolactone-market-is-projected-to-expand-at-an-impressive-cagr-of-10-over-the-next-decade-to-be-valued-2-5x-its-current-side-by-2030.html "Polycaprolactone Market Is Projected To Expand At An Impressive CAGR Of 10% Over The Next Decade, To Be Valued 2.5X Its Current Side By 2030") help people?** From a financial standpoint, the independent workforce is [currently forced to choose between flexibility and stability](https://www.financedigest.com/stability-test-chamber-market-2019-scope-of-current-and-future-industry-2027.html "Stability Test Chamber Market 2019 | Scope of Current and Future Industry 2027") — with Lean, individuals are empowered through tools that will aid in the income stability they deserve. **What kind of [financial literacy](https://www.financedigest.com/5-ways-to-improve-your-financial-literacy.html "5 Ways to Improve Your Financial Literacy") training do gig workers need?** Unfortunately, what we’ve learned is that training isn’t the problem. Workers understand how to manage their [money — it is predatory fees and income service mismanagement that prevent this workforce from feeling](https://www.financedigest.com/necessary-lessons-in-debt-six-out-of-ten-brits-wouldnt-feel-comfortable-discussing-any-money-issues-with-their-children.html "Necessary lessons in debt? Six out of ten Brits wouldn’t feel comfortable discussing any money issues with their children") supported. At Lean, we have a different viewpoint. Gig [workers have the opportunity to have healthy finances when their pain points are met through offerings like instant payments](https://www.financedigest.com/taking-the-pain-out-of-payments-for-the-21st-century-worker.html "TAKING THE PAIN OUT OF PAYMENTS FOR THE 21ST CENTURY WORKER"), advanced capital and proper risking by institutions. **Do you have** [advice for fellow startup founders?](https://www.financedigest.com/female-founders-top-advice-for-international-womens-day.html "Female Founders Top Advice for International Women’s Day") For those just starting out, I [say to expect](https://www.financedigest.com/u-s-consumers-inflation-expectations-highest-in-8-years-ny-fed-says.html "U.S. consumers’ inflation expectations highest in 8 years, NY Fed says") frustration in the beginning. The best part is the [tipping point](https://www.financedigest.com/are-we-at-a-tipping-point-for-the-hospitality-sector.html "Are we at a tipping point for the hospitality sector?") that comes after! When you are building something exciting, it can be easy to self-isolate. Be sure to embrace your network — your mentors, investors, and trusted advisors are there to help you weather the mental challenges that [come with the journey so you can take the right next](https://www.financedigest.com/whats-coming-next-in-the-clearing-and-settlement-world.html "What’s coming next in the clearing and settlement world?") steps. **What are your thoughts on the recently [proposed gig rule? How do you see](https://www.financedigest.com/euro-7-emissions-proposals-the-sequel-europes-carmakers-dont-want-to-see.html "Euro 7 emissions proposals, the sequel Europe’s carmakers don’t want to see") potential upcoming classification laws improving gig workers’ financial situations?** There is an over-reliance on this segment on unfair lending practices including payday loans, so it’s a big step forward that our institutions are thinking about this segment of workers, but a classification change doesn’t even begin to address the breadth of issues gig [workers face](https://www.financedigest.com/factbox-what-european-companies-are-doing-as-workers-face-high-inflation.html "Factbox-What European companies are doing as workers face high inflation"). Lean was created to address the breadth of the actual problems gig [workers face](https://www.financedigest.com/amazon-faces-shareholder-vote-on-treatment-of-warehouse-workers.html "Amazon faces shareholder vote on treatment of warehouse workers"). We’ve found over the last few years that gig workers, whether 1099 or part-time W2, face the same issues — that classification [change](https://www.financedigest.com/the-changing-face-of-peer-to-peer.html "THE CHANGING FACE OF PEER-TO-PEER") alone isn’t going to solve the deeper problems these individuals are faced with daily. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---