Fintech Company Clair Partners With Check to Seamlessly Offer On-Demand Pay, Empowering Employers to Offer Free, Compliant Wage Advances to Their Workforces

Rhea-AI Summary

Fintech company Clair has partnered with payroll infrastructure firm Check to offer seamless on-demand pay solutions for employers.

Clair's proprietary platform embeds flexible pay options into Workforce Management (WFM) systems using low-code technology, allowing businesses to provide compliant wage advances without developing new software. This partnership highlights Check's commitment to offering financial benefits, with the first rollout occurring through Eddy, an HR suite, reaching thousands of employees across hundreds of businesses.

As modern workforce needs evolve, technology integration and modernization are critical, with a significant percentage of employers and employees emphasizing the importance of financial wellness services. Clair's collaboration with Check aims to address these needs, providing financial flexibility and streamlining wage advance processes. Clair is backed by its partnership with FDIC-insured Pathward, ensuring compliance and reliability in its services.

Clair’s Proprietary Platform Enables Businesses to Embed Flexible Pay Into Their Workforce Management (WFM) Systems, With Low-Code Technology

NEW YORK--(BUSINESS WIRE)-- Clair, the pioneering fintech company offering free Earned Wage Advances originated by Pathward^®, N.A., today announced a new partnership with payroll infrastructure company Check. Clair is Check’s first Earned Wage Access (EWA) partner and represents a milestone in its commitment to offering financial benefits. Through the integration, platforms using Check to build and launch their payroll businesses can seamlessly opt into offering Clair’s fully compliant, on-demand pay solution, without needing to build any software. Check works with dozens of category-leading platforms such as Novo, Homebase and Wave, paying hundreds of thousands of employees each month.

Check’s channel partner Eddy, an all-in-one HR suite for hiring, onboarding, managing, and paying employees, is the first to roll out access to Clair services through the Check API. Eddy will provide Clair’s on-demand pay services to thousands of employees across hundreds of businesses.

Clair and Check are launching this unique solution at a time when WFM systems are trying to modernize their approach to employee management to align with today's digital workforce.

• More than half of employers (58%) say technology integration is one of the top areas of improvement for their payroll providers and another 29% say tech modernization is a top concern.
• Meanwhile, 68% of employees said they used financial wellness services provided by their employers in 2023, up from 51% in 2012, illustrating the growing demand and usage of these benefits.

To solve these pain points, Check partnered with Clair to bring its cutting-edge technology to Check partners, making it easy to offer financial benefits for their employees, by giving them access to their pay when they need it, before payday.

“As the needs of the modern workforce evolve, we're constantly iterating on our products to provide experiences that employers need to future-proof their businesses,” said Kevin Hollingshead, Head of Partnerships at Check. “It's clear to us that on-demand pay will only continue to grow in popularity. Clair is the innovator in this space, so it was a natural decision to partner to integrate their leading EWA solution into our partner offerings. We believe it will give our platforms a competitive edge in attracting and retaining the essential people who power their businesses.”

“By revolutionizing the way employers and HR platforms approach on-demand pay, we're ushering in a new era of financial freedom and flexibility for workers,” said Nico Simko, Co-founder and CEO of Clair. “Our pioneering technology streamlines the process of providing compliant wage advances, making us the trusted partner of choice for HR and payroll platforms at the forefront of modern finance. In partnership with Check, we're ready to unlock new levels of satisfaction and productivity for companies that want to raise the bar on financial wellness benefits for their workforces.”

Clair offers access to its on-demand pay solutions to more than a dozen HR platform partners and has plans to continue its strategic partnerships with leaders in the payroll and benefits space, having already provided millions of dollars in wage advances. Clair’s fully compliant wage advance solution provides peace of mind for Clair partners, powered by its partnership with FDIC-insured national bank Pathward.

To learn more about Clair and how to integrate its On-Demand Pay solutions into workforce management platforms, visit https://getclair.com/embedded.

About Clair

Clair is the pioneering fintech company offering free earned wage advances originated by a national bank. Clair helps professionals get paid before payday, supported by its partnership with FDIC-insured national bank Pathward, N.A. Clair is available at over 10,000 employers and more than a dozen workforce management platforms to help increase employee retention and financial wellness amid front-line worker shortages. Clair is based in New York and has raised $45 million in VC equity funding from investors including Thrive Capital, Upfront Ventures, Kairos, and Founder Collective. For more information, visit getclair.com.

About Check

Check is a payroll infrastructure company whose mission is to make paying people simple. Its platform offers everything companies need to build, launch, and scale a payroll business, including Check's intuitive API; Components, which enable flexible and customizable solutions; and a user-friendly customer management dashboard, Console. The company works with leading vertical SaaS, workforce management, financial services, and staffing businesses, and supports all 50 states plus D.C. To learn more, visit https://www.checkhq.com.

About Pathward^®

Pathward^®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Banking as a Service and Commercial Finance business lines. The strategic business lines provide end-to-end support to individuals and businesses. Learn more at pathward.com.

Clair is a financial technology company, not a bank. Clair Spending is a demand deposit account established by, and the Clair Debit Card is issued by, Pathward, N.A., Member FDIC. Mastercard^® and the circles design are registered trademarks of Mastercard International Incorporated. Clair Savings Account is established by Pathward, N.A., Member FDIC. Advances provided by Pathward, N.A.

While earned wage advances are free, certain other fees may apply depending on how users use their account.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240627761481/en/

Press Contact:

press@getclair.com

Source: Check

FAQ

What is the new partnership between Clair and Check about?

Clair and Check have partnered to offer seamless on-demand pay solutions, empowering employers to provide compliant wage advances without needing to build new software.

How does Clair's platform benefit employers using Check?

Clair's platform uses low-code technology to integrate flexible pay options into Workforce Management systems, allowing employers to offer wage advances easily.

Who is the first to roll out Clair's on-demand pay services?

Eddy, an all-in-one HR suite, is the first to roll out Clair's on-demand pay services through the Check API.

What percentage of employees used financial wellness services in 2023?

In 2023, 68% of employees used financial wellness services provided by their employers.

How does the partnership between Clair and Check address modern workforce needs?

The partnership addresses modern workforce needs by providing financial flexibility, integrating advanced technology, and streamlining wage advance processes.

What ensures the compliance and reliability of Clair's services?

Clair ensures compliance and reliability through its partnership with FDIC-insured national bank Pathward.