Millions of Workers Empowered to Gain Financial Control with Timely Access to Earned Wages
SANTA CLARA, Calif., Nov. 8, 2023 /PRNewswire/ — Payactiv, a leading provider of holistic financial wellness benefits, and a member of Oracle PartnerNetwork (OPN), today announced it is now available on Oracle Cloud Marketplace and can be integrated with Oracle Fusion Cloud Human Capital Management (HCM).
With Payactiv, Oracle Cloud HCM customers will now be able to help their employees manage day-to-day finances, pay bills on time, save and budget, access free 1:1 financial coaching and reach their financial goals.
Recent research by 60 Decibels revealed Earned Wage Access (EWA) plays a pivotal role in safeguarding workers from dangerous debt traps, reducing payday loan usage and overdraft incidents by 70% and 69%, respectively. According to the same study, 7 out of 10 Payactiv users reported increased job satisfaction, underscoring its value as an attractive employee benefit.
“We’re thrilled to work directly with Oracle Cloud HCM customers and bring to them our best-in-class holistic financial wellness solutions,” said Safwan Shah, CEO and co-founder of Payactiv. “Our availability in Oracle Cloud Marketplace will enable millions of workers to gain timely access to their earned wages and will further bolster Oracle’s market-leading HR solution.”
“Earned Wage Access and financial wellness benefits are powerful employee recruitment and retention tools,” said David Hicks, group vice president, Worldwide ISV and Cloud Business Development, Oracle. “With Payactiv and Oracle Cloud HCM, organizations can help improve employee satisfaction and demonstrate their commitment to supporting the financial well-being of their valued workers.”
Oracle Cloud Marketplace is a centralized repository of enterprise applications offered by Oracle and Oracle partners.
About PayactivPayactiv, an award-winning certified B-Corp, is the leading provider of Earned Wage Access, offering a suite of financial wellness services designed to empower people to participate in the economy they helped create. Our platform and digital wallet serve 4,000+ businesses and level the playing field for millions of workers who struggle with cashflow between paychecks.
Payactiv is the Gold Stevie® Award winner for the 2023 ‘Corporate Social Responsibility Program of the Year’, winner of the ‘Best Innovative or Emerging Tech Solution’ at the 2022 HR Tech Awards, a Silver Stevie® Award for our ‘All-in-One Digital Wallet and Livelihood Platform’, and ‘Best Wellness Program’ award at the California Excellence HR Awards. Learn more at www.payactiv.com.
About Oracle PartnerNetworkOracle PartnerNetwork (OPN) is Oracle’s partner program designed to enable partners to accelerate the transition to cloud and drive superior customer business outcomes. The OPN program allows partners to engage with Oracle through track(s) aligned to how they go to market: Cloud Build for partners that provide products or services built on or integrated with Oracle Cloud; Cloud Sell for partners that resell Oracle Cloud technology; Cloud Service for partners that implement, deploy and manage Oracle Cloud Services; and License & Hardware for partners that build, service or sell Oracle software licenses or hardware products. Customers can expedite their business objectives with OPN partners who have achieved Expertise in a product family or cloud service. To learn more visit: http://www.oracle.com/partnernetwork
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SOURCE Payactiv
