Rain, a provider of earned wage access (EWA) solutions, has announced a new integration with Paylocity, a leading HR, payroll, and spend management platform, making its EWA services available to over 41,650 Paylocity clients.
This bi-directional integration enables employees of Paylocity customers to access Rain’s EWA solution, joining over 3.5 million workers who have utilized Rain to reduce reliance on predatory financial products and alleviate financial stress between paychecks. This development comes as 70% of American households are experiencing worsening day-to-day financial realities and are considered financially unhealthy, according to the Financial Health Pulse 2024 U.
S. Trends Report. Employers are increasingly seeking benefits like EWA to retain talent and support their workforce’s financial well-being.
The new integration allows Paylocity users to deploy Rain’s EWA solution securely and efficiently. Key features include secure data integration, where Rain imports earned wage data directly from Paylocity, enabling eligible employees to access up to 50% of their gross earnings before payday while maintaining responsible usage limits.
Additionally, the system offers automated employee management, pulling essential details such as names, wage rates, wage types, employee IDs, and timekeeping data (hours worked) from Paylocity. Employees can access their earned wages via Rain’s mobile app, with options for free ACH transfers to existing bank accounts or instant access for a small fee. Rain is responsible for all funding and manages the advance process.
At the close of each pay period, Rain automatically transmits earned wage adjustments back to Paylocity for inclusion in the regular payroll run. Advanced wages are deducted alongside regular taxes and withholdings, and employers reimburse Rain directly, ensuring no disruption to standard payroll operations.
Heather Grant, Director of Total Rewards at Hopebridge, commented on the partnership, stating, “Knowing Rain partners directly with Paylocity gives us extra confidence that the systems we rely on every day work smoothly together. While our decision to partner with Rain was about employee financial wellness first, the Paylocity integration has been a real added benefit.”
Rodolphe Mulliez, EVP of Go-to-Market at Rain, added, “Earned wage access is becoming an essential component of any modern HCM toolkit. By partnering with Rain, our payroll model seamlessly integrates with your system, allowing us to collect less data than any other provider in the U.
S., driving financial wellness and flexibility for today’s workforce.”
This collaboration follows Rain’s recent $75 million Series B financing, indicating strategic growth within the financial wellness sector. Rain provides employee-centric financial wellness solutions to middle-market and enterprise organizations, offering EWA and other benefits used by over 3.5 million employees, facilitating more than $3 billion in early wage access. The company’s mission is to eliminate payday loans and predatory financial products, empowering employees with control over their income and financial futures.
