FinovateFall 2024: ZayZoon’s EWA Platform on Track to Help 10 Million Employees Save $10 Billion

ZayZoon continues to evolve its Embedded Earned Wage Access solution, offering businesses an integrated approach to improving employee financial wellness.

NEW YORK--(BUSINESS WIRE)--ZayZoon, the leader in Earned Wage Access (EWA) solutions for small and medium-sized businesses will demonstrate its next major step in payroll innovation at FinovateFall 2024. Co-founders Darcy Tuer and Tate Hackert will showcase ZayZoon’s cutting-edge Embedded EWA platform, designed to provide seamless financial wellness solutions to employees within the tools they already use.

According to ZayZoon’s 2024 State of Financial Wellness report, companies that offer Embedded EWA have seen:

• 25% reduction in absenteeism
• 30% reduction in employee turnover
• 81% increase in confidence when competing for talent

These numbers show the real impact EWA can have on businesses by improving retention and overall employee engagement.

“We’re proud of how ZayZoon has become an essential financial tool for small and medium-sized businesses, and our goal is to help 10 million employees save $10 billion,” said Darcy Tuer, Co-founder and CEO of ZayZoon. “Embedded EWA is the natural next step, giving employees access to their wages contextually, at the right time and right place.”

A Market Ready for Expansion

Every day, approximately 7.5 million U.S. employers and 22 million employees log into payroll portals, based on ZayZoon’s internal estimates. However, many payroll platforms have not yet tapped into this high engagement to offer financial wellness services. ZayZoon’s Embedded EWA transforms these routine interactions into opportunities for employees to access their earned wages effortlessly while remaining integrated with the systems they already use.

“Our solution meets employees where they are—inside the systems they interact with for their everyday payroll needs,” said Tate Hackert, Co-founder and President of ZayZoon. “For employers, it’s completely seamless. There’s no extra work involved, just a powerful tool that boosts employee satisfaction and engagement.”

Unlocking Revenue Potential for Payroll Providers

ZayZoon’s Embedded EWA platform not only benefits employees but also unlocks a new revenue stream for payroll providers. By integrating EWA directly into their systems, payroll platforms can monetize their existing customer traffic, similar to how social networks like LinkedIn leverage daily user engagement.

“Payroll platforms see millions of daily logins yet many haven’t fully capitalized on this traffic,” said Hackert. “For example, LinkedIn, which has a similar amount of daily logins, generates nearly $1 billion in annual ad revenue from that same level of engagement. ZayZoon’s Embedded EWA opens similar revenue opportunities for payroll providers by offering a service that employees need.”

Experience ZayZoon Live at FinovateFall 2024

FinovateFall attendees will witness firsthand how ZayZoon’s Embedded EWA transforms the payroll experience for both employers and employees. In a live, 7-minute demo on September 10, 2024, from 9:54 AM to 10:01 AM, Tuer and Hackert will showcase the ease of integrating ZayZoon into payroll platforms and the measurable benefits it brings to businesses.

“Our platform is designed to be simple yet powerful. It’s right there when employees need it, whether they’re updating timesheets, or managing their benefits,” added Tuer. “This level of integration builds trust and drives higher employee engagement, making ZayZoon a valuable partner for payroll providers and businesses alike.”

About ZayZoon:

With ZayZoon, payday finally comes with the push of a button. Employees can use ZayZoon to get paid part of their earned wages when they need it. The platform also offers educational resources and tools to help workers break the paycheck-to-paycheck cycle. And it works. 89% of employees who use ZayZoon report less financial stress and employers who offer ZayZoon boast a 29% reduction in turnover. To learn more, visit ZayZoon at: https://www.zayzoon.com