Talent shortage and rising employee expectations around payroll are driving organizations to improve their overall employee experience. Bi-weekly or monthly pay cycles are not adequate anymore, and employees are demanding greater flexibility and support for a better pay experience. Earned Wage Access (EWA), which allows employees to access a portion of their income ahead of the fixed payday, can alleviate employees’ financial concerns and improve their financial well-being. It can facilitate improved payroll administration and reduce wait times for workforce such as hourly workers, gig-workers, independent contractors, and freelancers. Organizations can also leverage EWA to disburse off-cycle payments such as rewards, bonuses, tips, reimbursements, and last-day payments.

In turn, EWA providers can differentiate themselves by providing tools to realize employees’ financial goals, develop an understanding of financial terms and policies, and reduce debt by automated savings and loan repayment.

In this report, we provide a comprehensive coverage of the EWA and Financial Wellness Solutions (FWS) market and analyze it across dimensions such as market overview, buyer adoption trends, solutions characteristics, and the technology provider landscape.

Scope:

All industries and geographies

Contents:

In this report, we:

• Analyze the adoption trends, drivers, and key investment themes of the EWA & FWS market
• Review the current EWA & FWS provider landscape
• Examine provider priorities and key consideration factors for EWA & FWS selection
• Discuss key challenges and solution areas

Membership(s)

Human Resources

Sourcing and Vendor Management