back Back

Hancock Whitney Bank to offer PayActiv EWA program to business clients

By Pavithra R

March 03, 2021

  • Hancock
  • UK
Share

Hancock Whitney Bank to offer PayActiv EWA program to business clients

PayActiv, the Earned Wage Access (EWA) Program to receive an Approval Order from the Consumer Financial Protection Board (CFPB), has announced Hancock Whitney to be the first bank to offer PayActiv’s financial wellness solution to its bank clients.

Established in 1899, Hancock Whitney offers a wide array of banking and financial services at locations in Alabama, Florida, Louisiana, Mississippi and Texas. It has embodied the core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. 

“Hancock Whitney has shown leadership and lived its commitment to serve hard-working Americans. Their clients can now attract, retain and recruit talent with a powerful and innovative benefit,” said Safwan Shah, CEO of PayActiv.

Businesses leverage PayActiv to help their employees avoid costly service fees and charges associated with short-term payday loans. By accessing a portion of their already earned but unpaid wages, a PayActiv user can save dollars in fees and charges.

“Businesses that choose Hancock Whitney can now help workers live the lives they’ve earned, navigate the ups, downs and unknowns in life and be able to participate more fully in the economy they helped create,” added Shah.

Founded in 2012, PayActiv aims to improve employee financial health. According to company data, the firm currently serves more than 4 mn employees at over 1,000 businesses across retail, business processing services, food services, and over 400 senior living and healthcare businesses. It has saved users $572 mn in payday loan, overdraft and late fees and reduces turnover by up to 50%. Its clients include Walmart, Ibex Global, Wayfair, and many others. 

Previous Article

March 03, 2021

Top 4 FinTech funding rounds- February 2021 (UK & Europe)

Read More
Next Article

March 03, 2021

AU10TIX enhances digital onboarding by launching SECURE.ME

Read More

Wolters
ISTBML
Mambu
Financial-finergo



Advertise with us



IBSi Prime News

The Weekly Wrap

January 28, 2022

Hancock

The Weekly Wrap: all you need to know by Friday COB | Jan 28th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 28, 2022

Veritran and Strands partner to offer personalized money management solutions

Read More

January 28, 2022

Origin launches Instant-ISIN 2.0 driven by new Clearstream API

Read More

January 27, 2022

TrueLayer expands to Austria, Belgium, Denmark, Finland and Portugal

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
Applications of Artificial Intelligence In Banking 2021

£500

Know More
Global Digital Banking Vendor and Landscape Report Q4 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More