{"id":2900,"date":"2020-11-30T12:27:49","date_gmt":"2020-11-30T06:57:49","guid":{"rendered":"http:\/\/641e9b6dc5f49f232f998c77"},"modified":"2023-04-10T15:38:37","modified_gmt":"2023-04-10T10:08:37","slug":"payroll-fintechs-financial-wellness-for-employees","status":"publish","type":"post","link":"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/","title":{"rendered":"Payroll FinTechs: Financial Wellness for Employees"},"content":{"rendered":"FinTechs, in their quest to go after underserved segments, are going after a significant niche customer base: The Salaried Employees. Salaried employees, especially the ones with poor credit history and in need of quick-cash have relied upon the payday lenders for decades. With new regulatory interventions and consumer awareness, the payday lending industry is on its wane. A new breed of fintech startups has sprung across the world to fill this #whitespace.4 broad categories can be observed in this segment:\u23f1 Salary On-demand \u2013 This is a fast emerging category. Fintechs in this category are partnering with corporates, HR software providers and payroll systems to enable flexible access to earned wagesSalary Advance \u2013 Fintechs in this category provide short-term credit to employees based on their salary and avoid the exorbitant rates charged by erstwhile payday lendersEarly Direct Deposit \u2013 A prominent feature largely provided by new-age banks in the US and the UK, enables account holders to receive paychecks up to 2 days in advance from standard payday.Crypto Payroll \u2013 This is the newest category which enables firms to make wage payments through multiple crypto-currencies.With financial wellness gaining precedence across organisations, these fintechs are well-poised to serve a generation of a [&hellip;] \t\t<div class=\"woocommerce\">\n\t\t\t<div class=\"woocommerce-info wc-memberships-restriction-message wc-memberships-message wc-memberships-content-restricted-message\">\n\t\t\t\tThis post is only available to members.\t\t    <\/div>\n\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\"><\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">mins read<\/span><\/span> FinTechs, in their quest to go after underserved segments, are going after a significant niche customer base: The Salaried Employees. Salaried employees, especially the ones with poor credit history and in need of quick-cash have relied upon the payday lenders for decades. With new regulatory interventions and consumer awareness, the payday lending industry is on its wane. A new breed of fintech startups has sprung across the world to fill this #whitespace.4 broad categories can be observed in this segment:\u23f1 Salary On-demand \u2013 This is a fast emerging category. Fintechs in this category are partnering with corporates, HR software providers and payroll systems to enable flexible access to earned wagesSalary Advance \u2013 Fintechs in this category provide short-term credit to employees based on their salary and avoid the exorbitant rates charged by erstwhile payday lendersEarly Direct Deposit \u2013 A prominent feature largely provided by new-age banks in the US and the UK, enables account holders to receive paychecks up to 2 days in advance from standard payday.Crypto Payroll \u2013 This is the newest category which enables firms to make wage payments through multiple crypto-currencies.With financial wellness gaining precedence across organisations, these fintechs are well-poised to serve a generation of a [&hellip;] \t\t<\/p>\n<div class=\"woocommerce\">\n<div class=\"woocommerce-info wc-memberships-restriction-message wc-memberships-message wc-memberships-content-restricted-message\">\n\t\t\t\tThis post is only available to members.\t\t    <\/div>\n<\/p><\/div>\n","protected":false},"author":6,"featured_media":3757,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,88],"tags":[113,111,136],"hashtags":[],"class_list":["post-2900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance","category-insights","tag-global","tag-market-map","tag-payroll","membership-content","access-restricted"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.9.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Payroll FinTechs: Financial Wellness for Employees - WhiteSight<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Payroll FinTechs: Financial Wellness for Employees - WhiteSight\" \/>\n<meta property=\"og:description\" content=\"3 mins read FinTechs, in their quest to go after underserved segments, are going after a significant niche customer base: The Salaried Employees. Salaried employees, especially the ones with poor credit history and in need of quick-cash have relied upon the payday lenders for decades. With new regulatory interventions and consumer awareness, the payday lending industry is on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\" \/>\n<meta property=\"og:site_name\" content=\"WhiteSight\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-30T06:57:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-10T10:08:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/qistaging.com\/whitesight\/wp-content\/uploads\/2023\/03\/Payroll-FinTechs-Financial-Wellness-for-Employees.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Team WhiteSight\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@WhiteSight_\" \/>\n<meta name=\"twitter:site\" content=\"@WhiteSight_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team WhiteSight\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\"},\"author\":{\"name\":\"Team WhiteSight\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/#\/schema\/person\/8b1c3e76bd29c841adcc8fd2744ad38f\"},\"headline\":\"Payroll FinTechs: Financial Wellness for Employees\",\"datePublished\":\"2020-11-30T06:57:49+00:00\",\"dateModified\":\"2023-04-10T10:08:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\"},\"wordCount\":593,\"publisher\":{\"@id\":\"https:\/\/qistaging.com\/whitesight\/#organization\"},\"keywords\":[\"Global\",\"Market Map\",\"Payroll\"],\"articleSection\":[\"Digital Finance\",\"Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\",\"url\":\"https:\/\/qistaging.com\/whitesight\/payroll-fintechs-financial-wellness-for-employees\/\",\"name\":\"Payroll FinTechs: Financial Wellness for Employees - 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