Competing With Neo-Banks: Why EWA is the Competitive Edge Banks Need
In the rapidly evolving financial landscape, neo-banks like Chime, Varo, and Current have disrupted traditional banking models.
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Clockout® enables account holders to access earnings before payday. Clockout® is a great incentive for account holders to set up their direct deposit at your financial institution.
Effortlessly embedded with your existing mobile and online banking platforms. Leverage our 40+ Banking core integrations and SDKs that require minimal effort to deploy.
Customize your EWA journey to match your brand's identity. Our SDK components provide the flexibility to design intuitive UXUI, ensuring a cohesive experience for your customers across all digital channels.
Our partnership with Q2 allows Financial Institutions to implement Clockout in less than 10 days.
We cover all Financial Institution's needs when seeking Earned Wage Access solutions. We provide the following services
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Earned Wage Access is a financial service that allows employees to access a portion of their earned wages before the scheduled payday. This service is designed to help employees manage unexpected expenses and reduce financial stress without relying on predatory lending practices.
Integrating EWA can significantly enhance your bank’s value proposition by attracting new depositors, increasing account retention, and growing core deposits. It also positions your bank as a forward-thinking institution that prioritizes the financial wellness of its customers.
EWA can be seamlessly integrated into existing banking systems with minimal disruption. The service utilizes APIs to link with your bank’s infrastructure, enabling real-time access to earned wages for customers without extensive changes to current processes.
Absolutely. By offering EWA, your bank can stand out as an innovator in the financial sector, offering modern financial solutions that meet the immediate needs of today’s workforce. This can be a key differentiator in markets saturated with traditional banking products.
We have connectivity with 1,600+ payroll systems in the US. Over 85% of the US Workforce can access Earned Wage Access with minimal implementation.
The key value proposition of offering EWA services is enhancing your bank’s competitive edge by providing a highly valued financial wellness tool. EWA services help attract and retain customers by meeting an immediate financial need, reducing their reliance on high-interest payday loans, and improving their overall economic health. Additionally, by offering EWA, your bank can increase core deposits, solidify customer loyalty, and position itself as a leader in innovative banking solutions.
