In seeking to attract and retain employees in a tight labor market, many employers are seeking to offer EWA, especially for hourly-paid employees but increasingly salaried workers as well. EWA is popular and functions as a win-win for employees and employers, with the important qualification that the solution is transparent and deployed with particular safeguards.
In this report, the first in a series assessing newer commercial applications for financial instruments, the author assesses critical “do’s” and “don’ts” financial institutions should consider when deploying an EWA solution for commercial clients. This report is based on extensive qualitative research of the current EWA landscape and leverages conversations with FIs and vendors. It also draws on the author’s knowledge of the market.
Clients of Datos Insights’ Commercial Banking & Payments service can download this report.
This report mentions. Atomic, BMO Financial, Branch, Citizens Financial, Cloudpay, Ceridian, DailyPay, FedNow, Instant Financial, Netspend, Payactiv, Pinwheel, PNC Financial, Santander, U.S. Bank, and Wagestream.
About the Author
Benjamin Nestor
Benjamin Nestor is an Advisor with the Commercial Banking & Payments practice. His topics of coverage supporting the practice center on emerging commercial banking product areas, content management, fintech vendors, ESG, and applied sustainability solutions. Prior to joining Datos Insights, Benjamin spent nearly a decade in higher education as a researcher, teacher, and archivist. He also has a background in...