UKG Ushers in New Generation of Financial Wellness with UKG Wallet

LOWELL, Mass. & WESTON, Florida – (BUSINESS WIRE) – To better support millions of people on their life path toward financial wellbeing, UKG (Ultimate Kronos Group), a leading global provider of human capital management (HCM), payroll, HR service delivery and workforce management solutions, has today unveiled its new financial wellness platform UKG Wallet.

UKG Wallet is designed to give people instant access to the wages they deserve while providing them with budgeting tools, educational resources and financial advice. By complementing traditional access to earned wages and on-demand pay with an emphasis on financial education and planning, UKG Wallet can help alleviate financial stress and help people better maximize their income.

“People thrive at work when their needs are met. This means companies must take full care of their employees by offering financial wellness resources in addition to the physical, social and mental health programs traditionally offered in the workplace, ”said Chris Todd, President of UKG. “Bills don’t always match payday, and at a time when 90% of Americans say money has an impact on their stress levels1, UKG is determined to offer solutions that modernize when and how people get paid. ”

Instead of waiting until payday, UKG Wallet allows people to access actual wages as soon as their shift ends. Funds can be deposited directly into a bank account, loaded onto a debit card, or picked up as cash. The UKG mobile wallet app – available in the Apple App Store or on Google Play once an organization is registered – also provides access to financial advisory resources, budgeting and savings tools, and digital payment options.

UKG Wallet is powered by Payactiv, a leading employer-funded platform for access to earned wages and financial wellbeing. It is available to organizations using UKG Pro, UKG Dimensions and UKG Ready.

“By partnering with an established market leader at Payactiv, UKG Wallet is already one of the most comprehensive financial wellness platforms on the HCM market and is ready to help our customers and their employees achieve success immediately,” said Hugo Sarrazin, Chief Product Officer at UKG. “It’s no longer enough for companies to simply create the right payroll: they have to give their employees the flexibility and autonomy, as well as the financial resources, to be able to access pay on their own schedule when needed.”

“Having timely access to well-earned wages enables people to earn a living without high borrowing costs and offers them a step towards financial health,” said Safwan Shah, CEO of Payactiv. “All we do is help people maximize the impact of their income every day in order to achieve their goals. UKG Wallet will make a difference to millions of people on their financial journeys. ”

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About UKG

At UKG (Ultimate Kronos Group), people are our goal. UKG believes that companies thrive when they focus on their people. As a leading global provider of HCM, payroll, HR service delivery and workforce management solutions, UKG delivers award-winning Pro, Dimensions and Ready solutions to help tens of thousands of companies in all regions and industries deliver better business results achieve and improve HR effectiveness, streamline the payroll process, and help make work a better, more connected experience for everyone. UKG employs 13,000 people worldwide and is known for an inclusive workplace culture. The company has received numerous awards for culture, products and services, including consecutive years on the Fortune 100 Best Places to Work For. To learn more, visit ukg.com.

Footnote 1: CNBC.com, November 1, 2021: https://www.cnbc.com/select/why-americans-are-stressed-about-money/

Copyright 2021 UKG Inc. All rights reserved. For a full list of UKG brands, please visit ukg.com/trademarks. All other trademarks, if any, are the property of their respective owners. All specifications are subject to change.

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