Remy Blaire joins Yi Liu, the General Manager of Embedded Payroll at Gusto, during Money20/20 in Las Vegas to discuss the challenges small businesses face, particularly their limited time and resources. Gusto specializes in payroll, benefits, and HR solutions for small businesses, serving over 400,000 clients. Yi explains how Gusto enables third-party software providers to integrate payroll services, creating an all-in-one solution for small business customers.
Yi emphasizes Gusto’s mission to simplify back-office workflows, allowing entrepreneurs to focus on their core business activities, whether that’s running a flower shop or a salon. By connecting various software tools—like time tracking, payroll, payments, and accounting—Gusto aims to provide a seamless experience for small business owners.
They also touch on the importance of balancing innovation with regulatory compliance in the fintech space. Yi highlights Gusto’s partnership with U.S. Bank to ensure a secure and trustworthy payroll experience for small businesses, demonstrating their commitment to compliance while still moving quickly in the market.
Looking ahead, Yi shares insights on the evolving fintech landscape, particularly regarding cash flow management for small businesses. Gusto has launched new products, including Gusto Money and a line of credit called Payroll Bridge, to help small businesses manage their cash flow and financial decisions more effectively.