Green Dot and Dayforce Partner to Enhance Employee Financial Wellness

Green Dot Corporation, a leading digital bank and FinTech, has teamed up with Dayforce to provide a comprehensive suite of services aimed at supporting financial wellness and flexibility for employees, as reported in Fintech Global News.

Green Dot, known for its wide array of banking and payments services, leverages its BaaS platform to deliver embedded finance solutions across various partners. Dayforce, on the other hand, is recognized for its HCM solutions and its award-winning on-demand pay solution, Dayforce Wallet, which serves as a critical financial wellness tool for employees.

Through this partnership, Dayforce Wallet will utilize Green Dot’s BaaS platform to enhance its on-demand pay solution, offering employees instant access to earned wages via a mobile app, linked prepaid cards, and cash withdrawals at an expanding network of fee-free ATMs.

On-demand pay has become a crucial benefit for employee engagement and retention. Surveys of Dayforce Wallet users underscore the importance of on-demand pay, with many noting that it helps them manage their finances better, including timely bill payments, reducing credit card debt, and making consistent savings contributions. This partnership aims to address these needs, offering significant benefits to both employees and employers.

«At a time when employees crave more wellness support from employers, on-demand pay is a critical benefit that will soon become the norm for many employers and employees across all industries,» said Deepa Chatterjee, COO of Dayforce. Simran Singh, Head of Enterprise Business Development, Embedded Finance at Green Dot, expressed excitement about the partnership, stating, «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.»