PayActiv Expands Advisory Board With Addition of Dan Quan

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May 30, 2019, 09:00 ET

SAN JOSE, Calif., May 30, 2019 /PRNewswire/ -- Today, PayActiv, Inc., the leader in employer sponsored, holistic financial wellness service for employees, announced that Dan Quan has joined its Advisory Board. Quan is Founder and Managing Partner of Banks Street Advisory.

A fintech expert and thought leader, Quan was Senior Advisor to the Director at the Consumer Financial Protection Bureau (CFPB) and led Project Catalyst until July 2018. A one-of-a kind initiative, Project Catalyst promoted consumer-friendly innovation within the U.S. FinTech community and inspired regulatory agencies across the globe to set up dedicated innovation hubs to promote financial innovation. Quan brings more than seven years of experience in the consumer financial services industry and more specifically in matters related to compliance and regulations associated within the industry.

As an advisor of PayActiv, Quan will guide the board and management team on innovation and regulatory matters in the U.S. and internationally.

Before joining the CFPB, Quan was a research associate at Harvard Business School (HBS), where he worked for Professor Peter Tufano, currently Dean-University of Oxford Saïd Business School. Quan was a key contributor to two influential HBS research projects on the U.S. competitiveness: Prosperity At Risk (2012) and Competitiveness at A Crossroads (2013).

"We are honored to have Dan Quan as an Advisor to our company. Not only is Dan a tremendous person, he is knowledgeable about the FinTech landscape and aligned with our vision to alleviate financial stress for the millions of Americans living paycheck to paycheck," said Safwan Shah, the CEO of PayActiv.

"I am excited to join PayActiv, a company that is truly doing well by doing good. We will be working together to fight for the financial wellbeing of low-income consumers," said Dan Quan.

Quan joins PayActiv at a time of tremendous growth for the company. In January 2019, PayActiv announced that it had processed more than $1 billion helping workers save money on late fees and overdraft charges, avoid high-interest payday loans and better manage their finances. In addition to providing access to cash, PayActiv continues to add features that offer its users access to transportation and goods and services.

About PayActiv:

PayActiv is an award-winning holistic financial wellness platform for employees to get on-demand access to earned but unpaid wages. Businesses that partner with PayActiv see significant cost reductions through increased recruitment, engagement and retention. Employees love PayActiv because it eliminates the expensive between-paychecks tolls of payday loans, bank overdrafts and late fees. PayActiv offers a suite of financial services that include timely access to earned wages, savings and budgeting tools, bill payment and financial health measurement. PayActiv has won best in class awards in both FinTech & HRTech and is the provider for Earned Wage Access to Walmart.

For more information about PayActiv visit www.PayActiv.com.

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SOURCE PayActiv