Jon Schlossberg, Even’s CEO, said the adoption of such tools has been relatively slow in restaurant’s, but is gaining steam among “forward looking companies.” For Boennighausen, the app is a natural extension of its commitment to “nourishing and inspiring employees.”
Two fintechs are trying to change that by making it easier to save. Even and Credit Karma Tax launched savings products Thursday, expanding into new areas of the financial services market. They may not get rich off their savings accounts but it builds goodwill and gives customers another reason to use their mobile apps.
Even customers can earmark up to 10 percent of their paycheck for each goal they set, and funds will be automatically deposited to each goal’s corresponding account.
“Due to the fragmented nature of today’s financial systems, it’s become increasingly difficult for people to track how their next paycheck will compare to their upcoming bills, which makes saving nearly impossible,” said Even CEO Jon Schlossberg.
Jon Schlossberg, CEO of Even, told Karen Webster that closing the gap between earned wages and paid wages for full-time and hourly workers was the motivation for the company’s founding. Even is an employer benefit, using software to provide workers with a mobile app that gives them access to their earned wages in advance of the traditional weekly or biweekly pay cycles.