The American Fintech Council (AFC), recognized as a leading association representing responsible fintech companies and innovative banks, has announced that Rain Technologies is now a member. Based in Santa Monica, California, Rain Technologies offers financial solutions focused on employee wellness, providing Earned Wage Access (EWA) and various financial benefits to businesses across the United States. Through its platform, employees can access their earned wages instantly, promoting financial stability and serving as an alternative to costly predatory loans. Now part of the AFC, Rain aims to collaborate on advancing financial inclusion and promoting responsible EWA solutions.
“A leader in providing innovative financial solutions tailored to the needs of the modern workforce,” said Phil Goldfeder, Chief Executive Officer of the AFC. “Their platform gives employees greater financial flexibility and stability, while giving employers better tools for managing their payroll. We are thrilled to have Rain join AFC and contribute to shaping the future of responsible EWA solutions for workers and employers.”
Rain's platform integrates with existing payroll systems, allowing employees to receive their earned wages through a mobile app. This access helps manage unexpected expenses, avoid overdraft fees, and break the paycheck-to-paycheck cycle. Employers benefit from streamlined data collection and improved payroll processes, which enhance employee retention, engagement, and recruitment.
“Rain’s mission is to empower employees with the financial tools they need to thrive, improving their overall financial well-being and alleviating stress,” said Alex Bradford, CEO and co-founder of Rain. “By providing instant access to earned wages, we are not only addressing immediate financial needs but also fostering long-term financial security. Our partnership with the American Fintech Council will help us connect with other responsible innovators as we work to meet the evolving needs of working people.”
The AFC is an organization that represents leading fintech companies and banks that provide embedded finance solutions. It aims to make the financial system more transparent, inclusive, and customer-centered, through responsible innovation and support of sound public policy.
Rain positions itself as a leader in employee-centric financial wellness, integrating into organizational infrastructures to support financial management flexibility. By offering employees the tools to become financially self-sufficient, Rain seeks to relieve stress associated with financial challenges surrounding pay dates and cycles. For more information, Rain invites interested parties to visit their website.