Earned Wage Access

Providing employees instant access to earned income before payday

Book a demo
Earned Wage Access

Earned Wage Access:
A Growth Engine for Banks

PayKey’s Earned Wage Access solution redefines the bank’s relationship with corporate employees by providing on-demand access to earned income, enabling greater liquidity and financial resilience. The end-to-end white-label solution for banks does not affect employers’ balance sheets or payroll cycles, serving as a key employment benefit for employees of all industries. The solution unlocks key growth opportunities for banks:
alt
New Revenues
Creating revenues from EWA transactions alongside cross-sell & upsell opportunities (loans, savings, etc.)
alt
Customer Acquisition
Reaching new customers via a service offered to corporate employees, including customers of other banks
alt
Personalized Services
Offering high-intent financial services to customers of all banks based on an understanding of HR data and key life events
alt
ESG Proposition
Promoting financial wellbeing with a service that enables greater financial liquidity & resilience

A Sticky Engagement Channel

Banks can now leverage a new channel, accessed by the average EWA user over 1.5 times/day, to offer the banking services that fit customers' financial needs.

Provide real-time tracking of earnings
Offer complimentary financial services
Promote personalized financial offers

How It Works:

A single integration with minimal effort between PayKey and the bank enables full EWA flow
PayKey connects to any HR and Payroll system to validate the employee's withdrawal request and eligibility
Bank transfers the earned wages requested to the employee
The EWA platform allows the bank to offer personalized services based on PayKey’s proprietary HR-based risk engine