PALO ALTO, Calif.–(BUSINESS WIRE)–To winthe leader in creating products for a fairer financial system and a better life for those who live paycheck to paycheck, announced today that it has been awarded gold in the Globee® Global CEO Awards 2022 for Business of the Year – Fintech. Ram Palaniappan, Founder and CEO of Earnin, also received Gold for CEO of the Year – Fintech.
The Globee® Awards are the world’s most prestigious business awards comprised of nine awards programs with nominations reviewed by peers and industry experts. Established in 2003, the awards recognize the achievements and contributions of companies, business leaders and professionals around the world. The coveted annual CEO World Awards program celebrates the achievements of leaders, executives and their leadership teams behind the most notable initiatives and achievements of the year. Chief executive officers, also known as CEOs, lead the development of the organization’s short and long-term strategy. This annual awards program recognizes individuals and teams that set industry benchmarks for excellence. All private or public organizations, businesses, non-profit organizations, associations, suppliers and government organizations worldwide and from all sectors are eligible to participate.
Earnin’s award for Business of the Year highlights the company’s ability to increase employee focus, attendance and retention, knowing that Earnin can provide them with short-term cash to avoid overdrafts and cover the cost of gas, groceries, rent or unexpected emergencies. Specifically, 87% of employees say Earnin has increased their motivation at work knowing they can get paid before payday. Palaniappan’s recognition as CEO of the Year highlighted his expansion of Earnin’s leadership team by 30% to exceed customer expectations as the company maintains its leadership position in the access category Earned Wages (EWA). Earnin’s leadership team includes executives from Amazon, Capital One, Even, Google, RAND, Robinhood, Symantec, Twitter and Uber.
Nearly two-thirds of the American population lives on salary to salary, even among those earning six figures. Often, these employees rely on predatory payday loans, cash advances, overdraft extensions, and high-interest credit cards to make ends meet between rigid two- to four-week pay cycles. Earnin says these outdated compensation cycles create an unnecessary liquidity gap, increasing the financial burden on individuals and households. A burden that continues to worsen under rising inflation and stagnating wages.
Recognizing this challenge firsthand, Palaniappan and his team are committed to developing products that make money work better for the growing community of Earnin members. Under his leadership, the company aims to free people from the traditional payment cycle and give them control of their money – as soon as they earn it. As of September 2021, Earnin has completed over 125 million transactions and provided access to $10 billion in earned wages to its members.
“As a revolutionary leader in access to earned wages, Earnin’s mission is to create products that meet the unique needs of millions of Americans who live paycheck to paycheck. To be recognized, both as a team and at the leadership level, for our work in finding solutions that improve the financial well-being of families and individuals is an accolade close to my heart,” said Ram Palaniappan, founder and CEO of Earnin.
“We believe this recognition from the Globee® Awards further validates our commitment to our clients, as we empower them to access not only the money they have earned, but also the life that liquidity can unlock. ”
This year alone, Earnin’s new leadership team has expanded its policy goals to create a fair and equitable EWA industry and expanded its partnership with organizations such as Harvard-based Opportunity Insights. provide an understanding of employment trends related to COVID across the country in support of policy development. Earnin also partnered with industry peers for a study measure the impact of salary access to services have on consumers. The study found that 92% of consumers using EWA services said it helped them pay their bills on time, avoid overdraft fees and payday loans, and become less reliant on credit cards. that enabled them to achieve at least one of their financial goals. Earnin also expanded its partnership with Financial Health Network, participating in the panel “Using customer behavior to drive financial health impact”, where behavioral experts discussed ways to leverage design principles rooted in behavioral insights, learning what prioritizing financial health looks like in practice.
To learn more about Earnin’s impact, please visit: win.com/impact.
As a revolutionary leader in access to earned wages, Earnin’s mission is to create products for a fairer financial system and a better life. Designed for the unique needs of those who live paycheck to paycheck, Earnin is designed to free people from the traditional payment cycle and help them take control of their money, from the moment they have it. win. Earnin’s full suite of tools includes: Cash Out, which provides access to earnings as they are earned, Balance Shield, a low balance alert to help maintain a positive bank balance, and Financial Calendar which helps people budget and schedule payments. Earnin is community supported, with no mandatory fees or hidden costs. People have the option to tip whatever they choose to support the service. As of September 2021, Earnin has completed over 125 million transactions and provided access to $10 billion in revenue for its members.
About Globee Awards
The Globee Awards are given in nine programs and competitions: American Best in Business Awards, Business Excellence Awards, CEO World Awards®, Cyber Security Global Excellence Awards®, Disruptor Company Awards, Golden Bridge Awards®, Information Technology World Awards®, Sales, Marketing, Service, & Operations Excellence Awards and Women World Awards®. Learn more about the Globee Awards at https://globeeawards.com