Why are Gig Workers Turning to Digital Banks?

Beth Furness

Gig workers cherish their freedom, and most of them would rather not commit to a 9 to 5 desk job. Always on the move, gig workers are growing larger in numbers: according to Morganstanley.com “within ten years, freelance workers may represent more than 50% of the U.S. working population.”

Flexible type of freelance work that one can do whenever, from wherever via a smartphone or laptop: this is the essence of the gig economy.

Gig workers cherish their freedom, and most of them would rather not commit to a 9 to 5 desk job. Always on the move, gig workers are growing larger in numbers: according to Morganstanley.com “within ten years, freelance workers may represent more than 50% of the U.S. working population.”


At AppJobs GAP we are all about freelance work; no matter if it means being a Doordash courier or a freelance writer. We believe gig work represents the future of work, and strong changes need to happen if we want this to be sustainable for all parties involved.


If we think of compensation processes or financial procedures in general, the gig economy relies heavily on digital solutions in order to grow, but the system is sometimes slow to catch on.


Traditional banking for example, may fail to meet the unique needs of freelancers around the world. Costly money transfers from abroad, currency exchange rates and slow transactions can be a major problem. This is why more and more digital banks are being preferred by freelancers all over the world. They are faster, more flexible and take into account the unique needs of gig workers.

Let’s take a closer look at gig workers’ needs:

To sum up, gig workers need faster and more flexible services from their banks and sprouting digital banks are doing a better job so far understanding and fulfilling the gig economy’s needs and expectations. It is time for more institutions to do the same and the rising blockchain technology might play a key factor to transforming the current traditiona

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