Alight Solutions Launches Alight Digital Wallet to Provide More Flexible Pay Options for Workers

Rhea-AI Summary

Alight Solutions (NYSE: ALIT) has introduced the Alight Digital Wallet, an app-based payment solution designed to enhance employee financial wellbeing. The platform offers two primary features: a pay card for direct payments and earned wage access, allowing employees to access earned wages ahead of payday. This initiative aims to alleviate financial stress for workers, which impacts overall wellbeing. The service is currently available in the United States and will expand to various global markets.

Positive

• Launch of Alight Digital Wallet enhances employee financial wellbeing.
• Offers flexible payment options: pay card and earned wage access.
• Integration capability with any payroll system.
• Expansion planned in Europe, Latin America, and globally.

Negative

• None.

New solutions allow employees to be paid when they want and provides easier access to pay

LINCOLNSHIRE, Ill.--(BUSINESS WIRE)-- Alight Solutions (NYSE: ALIT), a leading cloud-based provider of integrated digital human capital and business solutions, today announced the launch of Alight Digital Wallet, powered by QRails. This app-based solution will enable organizations to help their people meet their unique financial needs and improve their financial wellbeing with an approach to pay that offers the flexibility workers need and want.

Alight Digital Wallet introduces two flexible payment options:

• The pay card offers an alternative to a physical check or direct deposit into a bank account via a company-issued debit card.
• Earned wage access allows employees instant access to a part of their earned wages or salary ahead of payday. Both options provide a seamless and flexible way for employees to access their salaries and manage short-term financial needs without having to wait until payday.

Both pay solutions include financial wellbeing content to ensure a better employee experience.

“For [many] employees, finances are the number-one source of stress, more so than work, health and even family,” explained Luca Saracino, executive vice president, payroll solutions at Alight. “When employers provide more robust support around day-to-day finances and total financial wellbeing, employees are able to better manage their financial stressors, which can positively impact all aspects of their wellbeing. Flexible pay options are a simple way employers can provide this much needed help to their workforce.”

Alight Digital Wallet solutions can be easily integrated into any payroll system. The offering is currently available in the United States and will be rolled out to additional markets across Europe, Latin America, and globally. For more information, visit www.alight.com/solutions/payroll/alight-digital-wallet.

About Alight Solutions

With an unwavering belief that a company’s success starts with its people, Alight Solutions is a leading cloud-based provider of integrated digital human capital and business solutions. Leveraging proprietary AI and data analytics, Alight optimizes business process as a service (BPaaS) to deliver superior outcomes for employees and employers across a comprehensive portfolio of services. Alight allows employees to enrich their health, wealth and work while enabling global organizations to achieve a high-performance culture. Alight’s more than 16,000 dedicated colleagues serve more than 30 million employees and family members. Learn how Alight helps organizations of all sizes, including over 70% of the Fortune 100 at alight.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005270/en/

Media Contact:

MacKenzie Lucas

mackenzie.lucas@alight.com

alightsolutions.com

Source: Alight Solutions

FAQ

What is the Alight Digital Wallet?

The Alight Digital Wallet is an app-based payment solution that provides employees with flexible payment options such as a pay card and earned wage access.

How does earned wage access work in the Alight Digital Wallet?

Earned wage access allows employees to access a portion of their earned wages before payday, helping them manage immediate financial needs.

Where is the Alight Digital Wallet currently available?

The Alight Digital Wallet is currently available in the United States and will expand to other markets in Europe and Latin America.

Which company launched the Alight Digital Wallet?

The Alight Digital Wallet was launched by Alight Solutions, a cloud-based provider of human capital and business solutions.

What benefits does the Alight Digital Wallet offer to employees?

The Alight Digital Wallet offers employees greater financial flexibility through immediate access to earned wages and a convenient payment method via a pay card.