Rain won in the Total Compensation and Employee Benefits category for its Earned Wage Access Platform.
Los Angeles, May 1, 2024–(BUSINESS WIRE)–Rain, the financial wellness platform that helps companies better manage their employees' finances, today announced the Best in Total Compensation and Prizes category. announced that it has been selected as the winner for “Innovative or Emerging Technology Solutions.” Selected in the “Employee Wellness” category by Lighthouse Research & Advisory at the HR Tech Awards. Rain is known for providing millions of employees across the United States with access to earned wages and more control over their financial well-being.
“Employers who want to give their employees a fighting chance financially are turning to tools that provide access to earned wages. There are constraints, but companies like Rain are working to improve them.''Rain provides technology that allows workers to access the wages they earn before payday, providing flexibility and It provides a way to cover expenses without taking out expensive loans that rob you of your financial future,” said Ben Eubanks, Chief Research Officer at Lighthouse Research & Advisory.
Traditional pay cycles are often a barrier to achieving financial health. Americans spend more than $170 billion on payday loans, high-interest credit cards, overdraft fees, and other predatory financial products while waiting for their next paycheck. Rain gives hourly workers faster access to money and more control over their financial lives. By enabling employers to offer this benefit, Rain helps attract more qualified applicants, reduce turnover, and improve employee engagement and job performance. Masu.
“We are recognized for our mission to help employees achieve financial freedom while providing businesses with powerful benefits that not only improve employee well-being, but also contribute to business performance and success.” We are extremely proud that this award shows that our company is driving a positive change in the way employers think about pay flexibility and financial health.'' said Alex Bradford.
This award comes as Rain continues its strong growth and expansion. Since its founding in 2020, Rain has hired over 2 million of his employees and distributed over $1 billion in advances. The company announced a $116 million Series A funding round in March 2023, the largest in HR technology history. Rain also secured all $300 million in funding from Clear Haven Capital Management to expand its financial wellness services. The company recently announced a partnership with global modern card issuing platform Marqeta to provide a more robust earned wage access solution through embedded finance.
For more information about Rain, please visit www.rainapp.com.
About rain
Rain is a trusted leader in employee-centric financial wellness solutions, serving mid-market and large enterprise organizations across the country. Through a comprehensive suite of services, including access to earned wages and a suite of financial wellness benefits, Rain seamlessly integrates into any organization's existing infrastructure and provides the flexibility essential to effective financial management. To do. Rain's mission is to give employees more control over their financial future by eliminating the need for payday loans and other predatory financial products. Rain's customers include global brands such as Hilton, McDonald's, Arby's, and Subway, and span a variety of industries including restaurants and hospitality, as well as healthcare, retail, school systems, nonprofits, and more. I'm reading. To learn how you can use Rain to improve the financial well-being of your employees, visit www.rainapp.com.
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