DailyPay partnered with Quinyx, an AI-driven workforce management company, to help businesses better engage their frontline employees. The collaboration will integrate DailyPay’s earned wage access with Quinyx’s “optimized” scheduling system.
Founded in 2005, Quinyx helps workers keep track of their daily schedules. Through “AI forecasting” and time reporting, the company aims to streamline the scheduling process to balance the needs of the company, its customers and frontline employees to improve productivity, retention and flexibility. The company also helps employers remain compliant and reduce labor costs.
According to DailyPay, the partnership will help businesses by giving frontline workers access to their earned wages “on-demand,” without needing to wait for pay day, at no cost to the employer. It also incorporates employee preferences and flexibility alongside skills, certifications and labor rules to provide schedules that meet the needs of the staff and business.
Work-Life Balance
With their partnership, the companies say they hope to improve the lives and work-life balance of frontline employees by ensuring they have autonomy over their work, wages and lives.
“To bring earned wage access to everyone, everywhere, it’s critical we align with partners that share our mission to support the financial wellness of the American worker,” said DailyPay Vice President of Partnerships Jakgrid Lerdgidkjon.
In addition, the move furthers DailyPay’s goal of moving beyond on-demand pay to ensure good interactions between companies and employees.
In January, DailyPay secured $260 million of capital, which it said it will use to support domestic growth, expand internationally and further invest in product development. The funding was divided between a revolving credit facility capacity provided by Barclays and Angelo Gordon, and new term loan funding from SVB Capital and a fund managed by Neuberger Berman. The company announced a $300 million revolving credit facility from Barclays in March 2022.
Image: iStock
