30 Leading Companies of the Year 2021
New and fast-growing technologies like Financial Technology or Fintech have the potential benefit to collect and process data in real-time. This transforms how all businesses are working, how products and services are created in the new economy, and how customers are engaging in this process. Every professional and commercial industry is affected due to this change in workflows and business processes. The financial and economic sectors are no exception.
Financial Technology is a growing field and is now an economic revolution driven by the tech savvy. It is the development of new technology that transforms traditional institutions, such as banks and insurance companies, by uplifting how they handle their finances and economic services. The process is not only digitizing money but also monetizing data to fit into the digitized world.
DailyPay is the top fintech provider of earned pay software that effortlessly integrates with large companies’ payroll and time-management systems to permit employees to harness the power of their pay. DailyPay empowers the employee-employer bond through a distinct pay experience, called PayEx™, which leads to enhanced employee engagement and retention, with minimal effort and with no cost to the employer.
DailyPay has the most advanced ecosystem, modern technology in the industry, and it is able to deliver the most safe, compliant and seamless on-demand pay benefit in the sky rocketing market. DailyPay’s technology is designed to seamlessly integrate with all payroll and HCM platforms, without interfering with existing processes and at zero cost to employers. While other vendors end their services after integrating their solution into a company’s payroll system, DailyPay is dedicated to providing its employers full service during the entire client engagement post-implementation, with first-class, personalized customer service. This gives employees the assistance they need immediately, without putting additional pressure on a client’s current payroll team.
During the pandemic, many employers had to make the difficult decision to layoff and furlough their employees, breaking the employer-employee relationship. As businesses reopen and rehire workers, DailyPay’s platform not only makes the recruitment easier, but it also helps to rebuild that broken trust between employer and employee. The platform is designed with transparency and efficiency in mind, providing an on-demand pay benefit that gives employees access to their earned pay, enabling them to take control of their life. Employees no longer have to wait on their employers for payday and can design a life that isn’t dependent on a biweekly paycheck. Employers also can further support their employees’ financial journey with DailyPay’s financial literacy resources and additional benefits.
DailyPay is proud of prioritizing diversity and inclusion. #WeWinWithDiversity is one of its core values that is factored into every business decision it makes. Jason Lee, DailyPay’s CEO, released a letter in commemoration of Juneteenth, highlighting the importance of observing the day, encouraging employees to take a day off in observance, and declaring that this would be a recognized DailyPay holiday every year in the future. DailyPay has a number of Employee Resource Groups (ERGs) that support employees by providing interactive activities that enrich diversity and inclusion.In 2020, DailyPay created its first Diversity Leadership Committee, which consists of exceptional DailyPay members who want to share their insights and create an open culture at DailyPay. The committee is dedicated to establishing practices for future generations and works with various teams at DailyPay. It also published a Workplace Diversity Survey, which sparked discussions around diversity, inclusion, equity and racial justice.
DailyPay has recently launched a new product, ExtendPX. ExtendPX enables HCM providers to provide clients risk-free, on-demand pay and customizable benefits through a powerful open API. HCM companies can embed DailyPay into their own product suite using DailyPay APIs, or choose a white-label approach.
The full suite of ExtendPX services includes a digital wallet, popular on-demand features including PAY, SAVE and CYCLE, as well as other supporting DailyPay services, including program funding, secure data exchange monitoring and multi-level live employee support. ExtendPX is a modular solution that allows payroll/HCM companies to choose what they want and only what they want.
HR and payroll managers prefer DailyPay because it has full-service, which includes everything from hands-on integration into any payroll system, to funding payments, to multi-channel, domestic customer service. Other platforms employ a self-service model for their on-demand pay offerings, which means that they depend more on the already existing payroll infrastructure to make the benefit possible. This can be more taxing on payroll teams in terms of time punch approvals, funding, reconciliations, and manual processing, as opposed to the full-service model, that DailyPay provides which outsources the main functions of funding, risk management and reconciliation to the third-party vendor.
DailyPay unlocks a radically new experience for both the employee and the employer. The employee is now at the center, with complete control over her pay. She can see what she earns after each shift, access her earned pay to pay bills on time, and she can save her earned pay in her own savings account, all before what used to be called payday. From the employer’s standpoint, they have a radically engaged workforce. You see, when you put employees at the center of the pay experience, they actually start behaving differently.
DailyPay is dedicated in helping its users to achieve better financial health and strongly urges its users to save some part of their paychecks whenever possible. The company even has a product dedicated to helping employees save on its PayEx platform, known as SAVE. With SAVE, employees can save their pay in three different ways — scheduled automatically, rounded up when they make a transfer, or directly whenever they choose. With DailyPay, all savings tools are 100% free and users can send funds to the savings account of their choosing, which allows them to earn interest and develop savings “muscle memory.”
AutoSAVE — Every employee can “set it and forget it” and build a savings safety net with regularly scheduled savings.
DirectSAVE — Allows employees to save different amounts each pay period, on demand, at any time.
RoundupSAVE — Kickstarts the habit of saving and encourages employees to “save as they spend” by allocating a certain amount of their earnings to savings when they request a pay transfer prior to payday.
Brief background of Jason Lee
Jason Lee is a fintech entrepreneur and the CEO and Founder of DailyPay, the market leader in offering hundreds of companies and their millions of employees on-demand access to their earned pay. A financial engineer by training, Jason spent nearly two decades on Wall Street creating numerous new products and markets to manage areas of risk. In 2015, Jason had a vision to help regular American workers achieve financial stability after realizing many Americans struggle to make ends meet under the current payroll structure. So he launched a start-up that provides employees access to their already earned pay, which has now grown to become a premiere enterprise software company that promotes financial wellness.
Learn more about Jason: https://jason-lee.co/