Dayforce and Green Dot announce a BaaS collaboration for improved employee financial wellness.

Leading FinTech company Green Dot Corporation has teamed up with Dayforce to provide a full range of services, including instant access to earned income, with the goal of promoting employees' flexibility and financial well-being.

Tyree Schoen

February 22, 2024

1Min Read

189

Banking

Green Dot leverages its BaaS platform to provide embedded finance solutions across several partners, and it specializes in providing a broad range of banking and payments services. Known for its HCM solutions, Dayforce focuses on enhancing the work-life balance of its employees with its Dayforce Wallet, an award-winning on-demand pay solution that gives them a vital financial health tool.

Dayforce Wallet will improve its on-demand pay service by leveraging Green Dot's BaaS infrastructure through this agreement. Employees will have access to a feature-rich suite of services, including linked prepaid cards, rapid access to earned income via a mobile app, and fee-free ATM withdrawals at an expanding network.

Paying employees on demand is quickly becoming a crucial perk for keeping and engaging staff members. Users of Dayforce Wallet have surveyed on the value of on-demand pay; many have noted that it improves their ability to manage their finances, including timely bill payments, reducing credit card debt, and making regular contributions to savings. These demands are being addressed by this alliance, which will have a big impact on both employers and employees.

"On-demand pay is a critical benefit that will soon become the norm for many employers and employees across all industries," stated Deepa Chatterjee, COO of Dayforce, "at a time when employees crave more wellness support from employers." "We're thrilled to partner with Dayforce to better support employers and their employees in making on-demand pay embedded banking and finance solutions available to the huge population of Americans that need and want that flexibility," said Simran Singh, Head of Enterprise Business Development, Embedded Finance at Green Dot, expressing excitement about the partnership.