Agreement to Seamlessly Deliver Much Needed Earned Wage Access Benefit to Thousands of Employers and Their Employees
SCOTTSDALE, ARIZONA, UNITED STATES, April 13, 2022 — FlexWage Solutions and Savant Payroll Solutions are partnering to deliver financial wellness benefits to small and medium-sized businesses and franchises.
FlexWage developed and patented OnDemand Pay in 2010 as a dignified liquidity solution for employees that frequently experience income and expense volatility. “With today’s inflationary pressures it’s more important than ever to offer employees access to the wages they’ve earned between pay cycles. At the same time employers need the assurance of a sustainable benefit that meets the complex requirements of federal and state labor, banking, and lending laws,” said Frank Dombroski, FlexWage Founder, and CEO.
In selecting FlexWage as its partner, Savant Payroll Solutions focused on several key attributes of the solution:
- Industry Expertise – FlexWage brings more than a decade of expertise in delivering Earned Wage Access to employers and their employees. They are experts in banking, payments, financial technology, and regulatory compliance requirements of federal and state labor, banking, and lending laws.
- Trustworthy – The OnDemand Pay intellectual property held by FlexWage covers the industry’s most in-depth, data-driven, accurate, and efficient Earned Wage Access process. It has stood for more than a decade as the market standard.
- Safe – FlexWage’s Earned Wage Access model is employer-funded. Its data integration ensures accurate net earned wage calculation and near-zero risk of overpayment.
- Responsible – The FlexWage Solution allows for high-dollar-value transactions with low fees and employer discretion regarding pay cycle and monthly caps.
- Regulatory Compliance – The California Department of Financial Protection and Innovation (DFPI) recognizes FlexWage’s patented solution as the only non-loan Earned Wage Access offering permitted to operate in the state without the need for lender licensing.
“In today’s economically challenging landscape, Earned Wage Access benefits have become an important part of hiring and retaining top talent in the franchise markets that Savant Payroll Solutions serves. Franchisee owners from McDonalds to doctor’s offices can now rely on best-in-class OnDemand Pay (Earned Wage Access) benefits supported by FlexWage Solutions. We’re excited to partner with the industry founder to offer trustworthy, safe and responsible Earned Wage Access benefits to our clients,” said Jim Borodawka, Owner/Partner at Savant Payroll Solutions.
FlexWage Solutions LLC invented and patented Earned Wage Access in 2010. Our mission is to provide workers with safe and responsible solutions to assist them on their journey to better financial wellness. We believe financial security begins most effectively in the workplace. Employees manage cash flow volatility by accessing their earned wages between pay cycles, preventing the high cost and stress of bank overdraft fees, late fees, and short-term loans. Once established on a more solid footing, employees are more receptive to financial education, budgeting, and planning. FlexWage provides financial wellness services to partner institutions and directly through employers. We help employees from all walks of life on each step of their financial well-being.
About Savant Payroll Solutions
Headquartered in Hudson, New Hampshire, Savant Payroll Solutions empowers companies to help stay compliant, eliminate penalties, and avoid fraud related to payroll. Ideal for small to medium companies, Savant’s versatile, personalized, and comprehensive payroll management services assist with tax filing, human resource data management, time and attendance, workers’ compensation, and other employee management services and solutions and payroll services. For more information, visit savanthcm.com.