Flex Joins the American Fintech Council (AFC) to Improve Housing Security and Financial Stability for Renters

Providing flexible rent solutions to help renters manage rising housing costs and build a stable financial future

New York, NY (January 7,2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the addition of Flex as its newest member. As housing affordability continues to worsen, with nearly 25% of American renters missing or delaying rent payments and incurring costly penalties, Flex joins AFC to advance innovative financial solutions that help renters stay housed, reduce financial strain, and build long-term stability.

National rents have risen 5.8%, further straining finances, as 63% of Americans live paycheck-to-paycheck with limited ability to absorb unexpected costs. Flex addresses these challenges by offering flexible rent payment solutions that align with pay schedules, help avoid late fees, and prevent eviction. 

“Flex exemplifies AFC’s mission to foster responsible innovation and financial inclusion, offering renters a solution that directly addresses affordability challenges,” said Phil Goldfeder, CEO of the American Fintech Council. “By empowering renters to manage payments more effectively, Flex helps families remain housed, avoid penalties, and build a more secure financial future.”

Since 2019, Flex has supported over one million renters, providing a practical way to manage their largest monthly expense. Flex is designed with robust guardrails to protect renters including no compounding or deferred interest, no late fees, the ability to pause or cancel at any time, and transparent, upfront terms. By allowing renters to split payments and build credit history, Flex alleviates financial strain and creates opportunities for stability. Flex also benefits property owners by ensuring consistent, timely rent payments, reducing delinquencies, improving tenant retention, and easing administrative burdens, fostering stronger tenant relationships.

“As renters face record-high cost burdens and late fees compound financial pressures, Flex delivers solutions that empower them to pay rent on their terms while managing cash flow and reducing stress,” said Ryan Metcalf, Vice President of Public Affairs at Flex. “Joining forces with the American Fintech Council allows us to expand our mission and advocate for innovative solutions that enhance housing security and financial flexibility.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About Flex:
Flex is a financial services company transforming the rental experience by providing renters with seamless, innovative solutions that make life easier. Flex enables renters to pay rent online, split rent payments, and build credit—making managing rent simpler and more financially beneficial. Trusted by over 2,000 property management companies and available in more than eight million units nationwide, Flex has facilitated over $12 billion in on-time rent payments for over one million renters and received over 100,000 five star reviews. Learn more about Flex at www.getflex.com.