Payactiv Named 2021 BAI Global Innovation Award Finalist

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Nov 24, 2021, 06:00 ET

SAN JOSE, Calif., Nov. 24, 2021 /PRNewswire/ -- Payactiv, Inc, a certified B Corp and the leader in Earned Wage Access (EWA), is named a finalist in the 2021 BAI Global Innovation Awards.

Key Facts

Payactiv is a finalist in the 11th annual BAI Global Innovation Awards in the "Human Capital" category. This award recognizes product innovations in financial services that "creatively shape the experience and effectiveness" of the workforce.
Payactiv's Lively app offers a one-stop digital wallet solution designed to support the needs of low-wage workers, a group often marginalized by traditional banking services. It supports more than 1,500 businesses, and its Direct model is available free for anyone.

The Big Picture

Payactiv empowers more people to participate in the economy they helped create. It invented Earned Wage Access (EWA), which enables workers to get paid as they earn. It is not a loan. In less than a decade, EWA as a category has become one of the most popular benefits programs in corporate America. It is used by millions of employees who work for tens of thousands of businesses.
Payactiv's Lively app is an all-in-one digital wallet offering EWA, unique discounts, integrated bill management and bill pay, goal-based savings, instant P2P funds transfer, and Payactiv Connect, a dynamic tool for communication.
In 2021, Payactiv won two American Business Awards for "Company of the Year in Financial Services" and "Best Corporate Social Responsibility Program," the B Corp award "Best for the World™" for positive social impact, Aite-Novarica's "Grand Prize Digital Wallet Innovation Award" and a Webby Finalist Award for the short animated film, "We Heard You" – which is a tribute to the humanity of all workers.
Payactiv's Lively app is available for download at the Apple Store and Google Play.

About Payactiv
Payactiv, a Public Benefit Corporation and Certified B Corp, is a holistic financial-wellness platform that provides employees 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-paycheck toll of payday loans, bank overdrafts, and late fees. Payactiv offers a suite of financial services that includes savings and budgeting tools, bill payment and financial-health measurement. Payactiv is the winner of the American Business Awards' Company of the Year for Financial Services award, the Innovative Payments Association's Consumer Champion award, a Finovate winner and finalist, and the recipient of numerous best-in-class awards in both FinTech & HRTech. Visit www.payactiv.com.

About BAI
As a nonprofit, independent organization, BAI has delivered the financial services industry's most actionable insights for more than 95 years, enabling leaders to make smart business decisions every day. We provide in-depth, proprietary research to more than 40 of the top US banks, support more than 2,100 financial services organizations with compliance and professional development training, provide trusted, relevant thought leadership through BAI Banking Strategies reports, podcasts and webinars, and connect senior leaders through a series of executive roundtables. For more information, visit www.bai.org.

SOURCE Payactiv