How employers can help make their most vulnerable workers financially resilient?

Blue-collar workers are the lifeblood of an enterprise. But even lower frequency but verifiable data related to worker roles, earnings, and employment histories can help fintechs assess risk and serve low-income earners. Work data performs significantly better than traditional credit markers like Bureau scores to enhance inclusion of new-to-credit or thin file borrowers as well as optimise prediction efficiencies associated with credit or claim outcomes. A simple application from combining the three elements of work data, payout-link and trust equations is provision of Earned Wage Access, a transparent and safe mechanism for financially stressed workers to access ‘advance funds’ against accrued earnings for unplanned needs, more affordably than exorbitant alternatives available in the informal market. Long work days, constant financial stress, and educational limitations makes it all the more critical for blue collar workers to access simple solutions with low cognitive overhead.