SAN JOSE, California, November 24, 2021 / PRNewswire / – Payactiv, Inc, a B Corp Certified Company and the Leader in Access to Earned Wage (EWA), Named a Finalist for the BAI Global Innovation Awards 2021.
Payactiv is a finalist of the 11th edition of the BAI Global Innovation Awards in the “Human Capital” category. This award recognizes product innovations in financial services that “creatively shape the experience and efficiency” of the workforce.
Payactiv’s Lively app offers a one-stop digital wallet solution designed to meet the needs of low-wage workers, a group often marginalized by traditional banking services. It supports more than 1,500 companies and its Direct model is available free to all.
The big picture
Payactiv empowers more people to participate in the economy they’ve helped create. He invented Earned Wage Access (EWA), which allows workers to be paid as they earn. It is not a loan. In less than a decade, EWA as a category has grown into one of the most popular employee benefit programs in American businesses. It is used by millions of employees who work for tens of thousands of companies.
Payactiv’s Lively app is an all-in-one digital wallet offering EWA, one-time discounts, integrated invoice management and bill payment, goal-based savings, instant P2P funds transfer and Payactiv Connect, a dynamic communication tool.
In 2021, Payactiv won two American Business Awards for “Company of the Year in Financial Services” and “Best Corporate Social Responsibility Program”, the B Corp “Best for the World ™” award for its positive social impact , the “Grand Prix” of Aite-Novarica Digital Wallet Innovation Award “and a Webby Finalist Award for the animated short”We heard you“- which is a tribute to the humanity of all workers.
Payactiv, a public benefit and B Corp certified company, is a holistic financial wellness platform that provides employees with on-demand access to earned but unpaid wages. Companies partnering with Payactiv see significant cost reductions through increased recruitment, engagement and retention. Employees love Payactiv because it eliminates the high cost of payday loans, bank overdrafts, and late fees between paychecks. Payactiv offers a suite of financial services including savings and budgeting tools, bill paying, and financial health measurement. Payactiv is the recipient of the American Business Awards’ Company of the Year Award for Financial Services, the Consumer Champion Award from the Innovative Payments Association, a Finovate winner and finalist, and the recipient of numerous Top Awards. in the fields of FinTech and HRTech. Visit www.payactiv.com.
As an independent, not-for-profit organization, BAI has been providing the most actionable insights in the financial services industry for over 95 years, empowering executives to make smart business decisions every day. We provide in-depth and proprietary research to over 40 of America’s largest banks, support over 2,100 financial services organizations with compliance training and professional development, provide thoughtful and relevant leadership through reports, podcasts and webinars of BAI Banking Strategies, and we connect senior leaders through a series of executive roundtables. For more information visit www.bai.org.
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