Daily pay benefit provider DailyPay joined the Kronos Inc.’s Workforce Dimensions Technology Partner Network.
According to a Nov. 7 release, through a custom API integration with DailyPay, Kronos can share data that enable DailyPay to calculate each enrolled employee’s available balance and facilitate the instant transfer of funds when an employee requests it.
Terms of the deal were not disclosed.
Employers can now offer DailyPay — a 2019 Workforce Optimas Awards winner in the Innovation category — as part of the burgeoning on-demand pay benefit offerings. According to the release, DailyPay is fully compliant with wage and labor laws in all 50 states and allows employees “the freedom to exert control over the timing of their pay and to feel more secure financially.”
According to the Kronos website, other Workforce Dimensions partners include financial wellness provider Branch, Cornerstone Learning and work opportunity tax credit processor HireCredit.
“We are excited to work with Kronos to provide a life-altering benefit that helps the 78 percent of Americans who are living paycheck to paycheck,” said Jason Lee, CEO of New York-based DailyPay, which was founded in 2015. “Through the Kronos-DailyPay relationship, companies have the opportunity to streamline their payroll process and allow their employees to access the money they’ve earned prior to their next payday.”
Workforce Dimensions from Kronos is described as the “first next-generation workforce management solution. Cloud-native, mobile-native, and powered by artificial intelligence, it delivers real-time analytics to drive in-the-moment decisions to unburden managers from time-consuming, low-value tasks and empower employees with an engaging experience.”
“Workforce Dimensions is built on a completely open and extensible platform, enabling innovative integrations with partners, including DailyPay, that empower employees in ways that simply are not possible with legacy solutions,” said Mike May, senior director, Workforce Dimensions Technology Partner Network, Kronos, in the Nov. 7 release. “Providing a great technology experience not only drives user adoption, but it also helps organizations to engage and retain their workforce.”