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latest news and resources from the Rellevate News Desk
Press Releases
Rellevate Secures Series Seed Preferred Investment to Scale Digital Banking and Payment Services Aimed for American Workers
Naples Technology Ventures led successful Capital Raise to Fuel Company’s Growth Stamford, CT, May 20, 2022 — Rellevate, Inc., a digital banking & payment services provider today announced that it closed a Series Seed Preferred $4 million round led by Naples Technology Ventures (NTV). Additional investors included Connecticut Innovations, IAG Capital Partners, Cherrystone Angel Group, Texas HALO Fund and Tamiami Angel Fund, among others. As a fintech company dedicated to empowering consumers through leading-edge financial and payment services, Rellevate will use funds to focus on market expansion and growth. “Rellevate has built a leading-edge digital banking, money movement and payments platform aimed at American workers that need it most. We are excited to work with the experienced Rellevate management team as they grow, said Mike
Rellevate Announces Justin Simmons as Vice President of Operations
Rellevate Announces Justin Simmons as Vice President of Operations Stamford, CT, April 14, 2022 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge digital banking and payment services announces a new addition to their Senior Management Team. Rellevate is excited to announce the addition of Justin Simmons to our Management team. Justin will serve as Vice President of Operations for Rellevate. Justin comes to Rellevate from VMLY&R with extensive expertise in conceptualizing and developing in-house tools to streamline operational processes and build data, analytics, and reporting capabilities for Rellevate and its partner organizations. He genuinely enjoys investigating outlier data and exploring ways to increase visibility into data, allowing for more informed decision-making. “I am excited for the opportunity to join Rellevate during
Rellevate and the Richard Petty Icon Gift Card at the Phoenix Raceway
Stamford, Conn. (Nov 2, 2021)—Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, partnered earlier this year with Richard Petty to introduce the Richard Petty Icon Gift Card. Rellevate and the Richard Petty Icon Gift Card will be showcased on the Richard Petty Motorsports No. 43 Chevrolet Camaro ZL1 1LE in the NASCAR Cup Series (NCS) at the Phoenix (Ariz.) Raceway, located in Phoenix, AZ on Sunday, November 7. “Rellevate is excited to be featured on the No. 43 Chevrolet Camaro ZL1 1LE for the NASCAR Cup Series season finale,” Stewart A. Stockdale, co-founder, chairman and CEO of Rellevate, said. “It is perfect timing as the holiday season quickly approaches, for Richard Petty fans to have the best gift
Rellevate Partners with Crocs to Bring Pay Any-Day Feature to Retail & Distribution Center Employees
Targeted Approach to Employee Financial Wellness Stamford, CT, October 25, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has partnered with Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear, to introduce the Rellevate Digital Account with Pay Any-Day to their retail and distribution center employees working in the United States. Rellevate’s state-of-the-art digital platform strengthens organizations and their workforces, at no charge to employers. The Rellevate Digital Account features Pay Any-Day, which enables employers to offer employees secure and affordable access to earned wages, any time before their scheduled pay day. Rellevate’s Pay Any-Day (Earned Wage Access) can increase employee engagement, positively impact employee productivity and health, and ultimately reduce employer
Rellevate Commissions Study on the Impact of Earned Wage Access on Financial Wellness
RELLEVATE COMMISSIONS STUDY ON THE IMPACT OF EARNED WAGE ACCESS ON FINANCIAL WELLNESS – Study Uncovers the Painful Reality Facing 100 Million American Workers – Stamford, CT, June 2, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, has commissioned research conducted by Strategic Advisor and economist William M. Rodgers III, Ph.D. to assess the U.S. workforce’s current economic health and explore the impact that earned-wage-access (EWA) solutions could have on financial wellness. The report, available at Bridging the Gap, finds that even prior to the pandemic (1) low and moderate income families don’t have the income to make ends meet, nor the ability to absorb unanticipated expenses, (2) closing the gap between income and expenditures would
City of New Britain Partners with Rellevate
Contact: Sherry Goldman Goldman Communications Group 718-224-4133 sherry@goldmanpr.net FOR IMMEDIATE RELEASE City of New Britain Partners with Rellevate Administration Encourages Employee Financial Wellness Stamford, CT, May 19, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has partnered with the City of New Britain to introduce the Rellevate Digital Account with Pay Any-Day to their employees. Rellevate’s state-of-the-art digital platform strengthens organizations and their workforces, at no charge to employers. The Rellevate Digital Account features Pay Any-Day, which enables employers to offer employees secure and affordable access to earned wages, any time before their scheduled pay day. Other features of the Rellevate Digital Account include Bill Pay, Money Send and Visa® Debit Card. There are
Rellevate and Richard Petty Announce the Richard Petty Icon Gift and Reward Cards
For Immediate Release – January 22, 2021 Stamford, Conn. (January 22, 2021)—Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced today a multi-year licensing and distribution agreement with Richard Petty. The partnership will allow fans to buy gift and reward cards depicting Richard Petty, “The King,” an American icon. Petty is the winningest driver in the history of the National Association for Stock Car Auto Racing (NASCAR). “We look forward to bringing the Richard Petty Icon Gift and Reward Cards to fans by providing a mechanism for corporations to reward employee performance and build consumer promotions,” Jim Hannigan, vice president of licensing for Richard Petty Motorsports, said. “We will contribute a portion from each purchase to Victory Junction.”
Rellevate Joins UKG Technology Partner Network
Improving Employee’s Lives and Employer’s Bottom-lines through Financial Wellness Stamford, CT – December 7, 2020 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has joined the UKG Technology Partner Network, a collaborative ecosystem of organizations creating solution extensions for UKG Dimensions (formerly Workforce Dimensions from Kronos) and UKG Ready (formerly Kronos Workforce Ready) to amplify and elevate the employee experience. Rellevate’s state-of-the-art digital platform strengthens businesses and workforces, offering a powerful suite of financial services – featuring Pay Any-Day – that enables employers to offer their employees safe and secure access to their eligible earned wages based on actual hours worked in UKG Dimensions and UKG Ready at any time before their regularly scheduled pay day.
Rellevate, Inc., Completes Initial Capital Seed Round And Forms Board Of Directors
Rellevate, Inc., Completes Initial Capital Seed Round And Forms Board Of Directors STAMFORD, CT – Rellevate, Inc., a digital fintech company dedicated to empowering consumers through innovative financial and payment services that allow them to access, move and use their money anytime, anywhere, announced that it has closed its initial capital raise to fund the Company’s growth. Rellevate also announced the formation of its Board of Directors. The announcement was made by Stewart A. Stockdale, Rellevate’s Co-Founder, Chairman & CEO. Rellevate, Inc.’s Board of Directors is: The capital raise was led by CT Innovations, Connecticut’s Strategic Venture Capital arm with participation in this round by IAG Capital Partners and Texas Halo Fund, and a great list of individual accredited investors. “We have been impressed with
Rellevate, Challenger Bank for the Working Poor, Goes Live
By Penny Crosman | August 06, 2020 Fintech companies are taking on a glaring problem in America that the coronavirus pandemic has made worse — the struggle of the working poor. Millions of Americans have full-time jobs but still can’t make ends meet. This is the market targeted by Rellevate, a challenger bank that launched on Thursday. More on its story in a moment. First, here is additional context about the problem and emerging solutions for it. Stewart Stockdale (far left), chairman and CEO of Rellevate, explains the challenger bank’s offering to hotel workers in New York. “We’re not doing overdraft because I think that’s a dirty word in the world of banking,” he said in an interview. Even before the current public health crisis,
Insights
Types Of Insurance Disbursement Methods To Know About
Understanding the different ways money can be paid out is crucial in the world of insurance. This article explores various methods of insurance disbursement, making it easier for you to choose what works best for your situation. From lump-sum payments to modern digital solutions, each method has its own benefits and drawbacks that you should know about. Key Takeaways Direct Deposit How Direct Deposit Works Direct deposit is a method by which your insurance payouts are sent directly into your account. This means you don’t have to wait for a check to arrive in the mail. Instead, the money is transferred electronically, making it a quick and efficient way to receive your funds. This method is becoming increasingly popular due to its convenience. Pros and
Tips For Improving Claims Process
Improving the claims process is essential for ensuring that individuals and businesses receive the support they need during challenging times. By focusing on key areas such as documentation, communication, and technology, we can make the claims experience smoother and more efficient for everyone involved. This article provides valuable tips to enhance the claims process, making it easier for both claimants and claims professionals. Key Takeaways Understanding the Claims Process When you think about the claims process, it’s important to know what it really means. Understanding the key terms can help you navigate through it more easily. In today’s world, technology plays a huge role in making claims faster and more efficiently. For instance, innovative solutions like those from Rellevate offer instant digital transfers that make
Improving Student Athlete Per Diems
Student athlete per diems are the daily allowances given to college athletes to help cover their living expenses while they are away for competitions. These funds are crucial for ensuring student-athletes can focus on their sports and studies without worrying too much about money. However, the current system often falls short, leading to various challenges. This article explores the current state of student-athlete per diems, the financial impacts of insufficient funds, innovative solutions to improve these allowances, and the necessary policy changes to support student-athletes better. Key Takeaways Understanding the Current State of Student-Athlete Per Diems Student-athletes today face a complex landscape regarding their per diem allowances. These allowances are crucial for covering daily expenses while competing. Historically, the rules around per diems have changed
Guide To Paying Volunteers With Stipends
When it comes to supporting volunteers, offering stipends can be a helpful way to show appreciation for their time and effort. This guide will explore what stipends are, their benefits, and how to set up a stipend program effectively. Understanding the ins and outs of paying volunteers with stipends can make a big difference in how organizations engage with their volunteers. Key Takeaways Understanding Stipends for Volunteers When you think about volunteer work, you might wonder, can volunteer work be paid? The answer is yes, but it’s usually in the form of a stipend. A stipend is a small payment meant to help cover basic living costs. This type of payment is often used for long-term volunteer positions, making it easier for people to commit
Over 80% Of Insurers Look To Fintech Partners For Instant Payment Solutions
What’s Happening and How Rellevate Can Help The Insurance sector is now placing an even higher importance on instant claim payouts and increased policyholder satisfaction resulting from a zero-cost out-of-pocket experience. 82% of large Insurance carriers and 77% of small carriers are now forging new or expanded partnerships with FinTech companies to accelerate and help navigate their real-time payment process The move to FinTech partnerships and real-time disbursements also accommodates the growing interest in ’embedded insurance’ and other non-traditional insurance arrangements. As these products become more ubiquitous, more executives recognize their substantial revenue potential with 81% of executives predicting that embedded insurance will quickly morph from a “nice-to-have” to a “must-have” The Importance of the Right FinTech Partnership: Going Instant may seem like a simple
Disbursement vs Reimbursement
In this article, we will explore the differences between disbursement and reimbursement. Understanding these two financial concepts is essential for managing money effectively in business operations. We’ll break down what each term means, how they are used, and why it matters to distinguish between them. Key Takeaways Understanding Disbursement and Reimbursement Definition of Disbursement Disbursement refers to money paid out by a business or organization. This can include payments for salaries, services, or even loans. For example, when a company pays its employees, that’s a disbursement. Disbursements can also happen in other contexts, like when a student receives a scholarship from a school. Definition of Reimbursement Reimbursement is when a business pays back someone for money they spent on behalf of the company. This often
What Is Disbursement & How Does It Work
A disbursement in business or government refers to the payment of money from a fund or account to a third party. Understanding how disbursement works is essential for businesses and individuals, as it affects budgeting, cash flow, and financial management. This article will explore the various aspects of disbursement, including its definition, types, processes, and real-world examples. Whether you are a student, a business owner, or just curious about financial transactions, this guide will help you grasp the concept of disbursement and its significance in everyday financial activities. Key Takeaways Compensation payments (wages, commissions, dividends) Supplier payments for goods and services Tax payments to the government Loan payouts to borrowers Grant distributions Insurance claim payouts Understanding Disbursement Definition of Disbursement A disbursement is simply the
Digital Transformation in The Insurance Industry
Digital transformation is reshaping the insurance industry in many exciting ways. With the rise of new technologies, companies are changing how they operate and interact with customers. This transformation is not just about adopting new tools; it’s about creating better experiences for policyholders and improving overall efficiency. In this article, we will explore the various aspects of digital transformation in insurance, including the role of artificial intelligence, the challenges faced, and the benefits for customers. Key Takeaways The Role of Artificial Intelligence in Digital Transformation Artificial Intelligence (AI) is a game-changer in the insurance industry, driving significant improvements in various operations. AI enhances efficiency, allowing companies to process claims and manage policies faster. Enhancing Customer Experience Through AI AI tools help create a more personalized
Are Your Constituents Going Hungry Now That COVID Relief Measures Have Ended?
About 13.5% of households were food insecure last year with 10 states seeing increases in food insecurity What’s Happening and How Rellevate Can Help The percentage of American households experiencing hunger challenges rose again, marking the second straight year of increases in food insecurity after nearly a decade of decline, according to the U.S. Department of Agriculture. “When there are economic pressures that are squeezing household budgets, oftentimes it is the food budget that is the first to get squeezed,” -Kassandra Martinchek, Senior Research Associate at the Urban Institute Fast Fact: TANF Households Who Shop Frequently Can Maintain A Better And Steadier Calorie Intake Throughout The Month Families using food stamps tend to buy more food at the beginning of the month, with over 25%
Is Doom-Spending Affecting Your Employees?
What Is Doom-Spending? “Doom-spending” refers to a phenomenon that occurs when people spend more than they can afford to cope with stress. For example: concerns about the economy and foreign affairs, according to a study conducted by Qualtrics and Credit Karma What’s Happening and How Rellevate Can Help Nearly all Americans (96%) are concerned about the current state of the economy and two-thirds claim it’s giving them anxiety. Some of the most severe stressors include inflation, the inability to afford necessities and not having enough money to spend on things that bring happiness As a result, Americans who don’t have enough money to ‘pay bills, save and have fun’ are forced to skip the saving step and splurge on shopping sprees or travel to uplift
Press Releases
Rellevate Secures Series Seed Preferred Investment to Scale Digital Banking and Payment Services Aimed for American Workers
Naples Technology Ventures led successful Capital Raise to Fuel Company’s Growth Stamford, CT, May 20, 2022 — Rellevate, Inc., a digital banking & payment services provider today announced that it closed a Series Seed Preferred $4 million round led by Naples Technology Ventures (NTV). Additional investors included Connecticut Innovations, IAG Capital Partners, Cherrystone Angel Group, Texas HALO Fund and Tamiami Angel Fund, among others. As a fintech company dedicated to empowering consumers through leading-edge financial and payment services, Rellevate will use funds to focus on market expansion and growth. “Rellevate has built a leading-edge digital banking, money movement and payments platform aimed at American workers that need it most. We are excited to work with the experienced Rellevate management team as they grow, said Mike
Rellevate Announces Justin Simmons as Vice President of Operations
Rellevate Announces Justin Simmons as Vice President of Operations Stamford, CT, April 14, 2022 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge digital banking and payment services announces a new addition to their Senior Management Team. Rellevate is excited to announce the addition of Justin Simmons to our Management team. Justin will serve as Vice President of Operations for Rellevate. Justin comes to Rellevate from VMLY&R with extensive expertise in conceptualizing and developing in-house tools to streamline operational processes and build data, analytics, and reporting capabilities for Rellevate and its partner organizations. He genuinely enjoys investigating outlier data and exploring ways to increase visibility into data, allowing for more informed decision-making. “I am excited for the opportunity to join Rellevate during
Rellevate and the Richard Petty Icon Gift Card at the Phoenix Raceway
Stamford, Conn. (Nov 2, 2021)—Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, partnered earlier this year with Richard Petty to introduce the Richard Petty Icon Gift Card. Rellevate and the Richard Petty Icon Gift Card will be showcased on the Richard Petty Motorsports No. 43 Chevrolet Camaro ZL1 1LE in the NASCAR Cup Series (NCS) at the Phoenix (Ariz.) Raceway, located in Phoenix, AZ on Sunday, November 7. “Rellevate is excited to be featured on the No. 43 Chevrolet Camaro ZL1 1LE for the NASCAR Cup Series season finale,” Stewart A. Stockdale, co-founder, chairman and CEO of Rellevate, said. “It is perfect timing as the holiday season quickly approaches, for Richard Petty fans to have the best gift
Rellevate Partners with Crocs to Bring Pay Any-Day Feature to Retail & Distribution Center Employees
Targeted Approach to Employee Financial Wellness Stamford, CT, October 25, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has partnered with Crocs, Inc. (NASDAQ: CROX), a global leader in innovative casual footwear, to introduce the Rellevate Digital Account with Pay Any-Day to their retail and distribution center employees working in the United States. Rellevate’s state-of-the-art digital platform strengthens organizations and their workforces, at no charge to employers. The Rellevate Digital Account features Pay Any-Day, which enables employers to offer employees secure and affordable access to earned wages, any time before their scheduled pay day. Rellevate’s Pay Any-Day (Earned Wage Access) can increase employee engagement, positively impact employee productivity and health, and ultimately reduce employer
Rellevate Commissions Study on the Impact of Earned Wage Access on Financial Wellness
RELLEVATE COMMISSIONS STUDY ON THE IMPACT OF EARNED WAGE ACCESS ON FINANCIAL WELLNESS – Study Uncovers the Painful Reality Facing 100 Million American Workers – Stamford, CT, June 2, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, has commissioned research conducted by Strategic Advisor and economist William M. Rodgers III, Ph.D. to assess the U.S. workforce’s current economic health and explore the impact that earned-wage-access (EWA) solutions could have on financial wellness. The report, available at Bridging the Gap, finds that even prior to the pandemic (1) low and moderate income families don’t have the income to make ends meet, nor the ability to absorb unanticipated expenses, (2) closing the gap between income and expenditures would
City of New Britain Partners with Rellevate
Contact: Sherry Goldman Goldman Communications Group 718-224-4133 sherry@goldmanpr.net FOR IMMEDIATE RELEASE City of New Britain Partners with Rellevate Administration Encourages Employee Financial Wellness Stamford, CT, May 19, 2021 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has partnered with the City of New Britain to introduce the Rellevate Digital Account with Pay Any-Day to their employees. Rellevate’s state-of-the-art digital platform strengthens organizations and their workforces, at no charge to employers. The Rellevate Digital Account features Pay Any-Day, which enables employers to offer employees secure and affordable access to earned wages, any time before their scheduled pay day. Other features of the Rellevate Digital Account include Bill Pay, Money Send and Visa® Debit Card. There are
Rellevate and Richard Petty Announce the Richard Petty Icon Gift and Reward Cards
For Immediate Release – January 22, 2021 Stamford, Conn. (January 22, 2021)—Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced today a multi-year licensing and distribution agreement with Richard Petty. The partnership will allow fans to buy gift and reward cards depicting Richard Petty, “The King,” an American icon. Petty is the winningest driver in the history of the National Association for Stock Car Auto Racing (NASCAR). “We look forward to bringing the Richard Petty Icon Gift and Reward Cards to fans by providing a mechanism for corporations to reward employee performance and build consumer promotions,” Jim Hannigan, vice president of licensing for Richard Petty Motorsports, said. “We will contribute a portion from each purchase to Victory Junction.”
Rellevate Joins UKG Technology Partner Network
Improving Employee’s Lives and Employer’s Bottom-lines through Financial Wellness Stamford, CT – December 7, 2020 – Rellevate, Inc., a fintech company dedicated to empowering consumers through leading-edge financial and payment services, announced it has joined the UKG Technology Partner Network, a collaborative ecosystem of organizations creating solution extensions for UKG Dimensions (formerly Workforce Dimensions from Kronos) and UKG Ready (formerly Kronos Workforce Ready) to amplify and elevate the employee experience. Rellevate’s state-of-the-art digital platform strengthens businesses and workforces, offering a powerful suite of financial services – featuring Pay Any-Day – that enables employers to offer their employees safe and secure access to their eligible earned wages based on actual hours worked in UKG Dimensions and UKG Ready at any time before their regularly scheduled pay day.
Rellevate, Inc., Completes Initial Capital Seed Round And Forms Board Of Directors
Rellevate, Inc., Completes Initial Capital Seed Round And Forms Board Of Directors STAMFORD, CT – Rellevate, Inc., a digital fintech company dedicated to empowering consumers through innovative financial and payment services that allow them to access, move and use their money anytime, anywhere, announced that it has closed its initial capital raise to fund the Company’s growth. Rellevate also announced the formation of its Board of Directors. The announcement was made by Stewart A. Stockdale, Rellevate’s Co-Founder, Chairman & CEO. Rellevate, Inc.’s Board of Directors is: The capital raise was led by CT Innovations, Connecticut’s Strategic Venture Capital arm with participation in this round by IAG Capital Partners and Texas Halo Fund, and a great list of individual accredited investors. “We have been impressed with
Rellevate, Challenger Bank for the Working Poor, Goes Live
By Penny Crosman | August 06, 2020 Fintech companies are taking on a glaring problem in America that the coronavirus pandemic has made worse — the struggle of the working poor. Millions of Americans have full-time jobs but still can’t make ends meet. This is the market targeted by Rellevate, a challenger bank that launched on Thursday. More on its story in a moment. First, here is additional context about the problem and emerging solutions for it. Stewart Stockdale (far left), chairman and CEO of Rellevate, explains the challenger bank’s offering to hotel workers in New York. “We’re not doing overdraft because I think that’s a dirty word in the world of banking,” he said in an interview. Even before the current public health crisis,
News Desk
Types Of Insurance Disbursement Methods To Know About
Understanding the different ways money can be paid out is crucial in the world of insurance. This article explores various methods of insurance disbursement, making it easier for you to choose what works best for your situation. From lump-sum payments to modern digital solutions, each method has its own benefits and drawbacks that you should know about. Key Takeaways Direct Deposit How Direct Deposit Works Direct deposit is a method by which your insurance payouts are sent directly into your account. This means you don’t have to wait for a check to arrive in the mail. Instead, the money is transferred electronically, making it a quick and efficient way to receive your funds. This method is becoming increasingly popular due to its convenience. Pros and
Tips For Improving Claims Process
Improving the claims process is essential for ensuring that individuals and businesses receive the support they need during challenging times. By focusing on key areas such as documentation, communication, and technology, we can make the claims experience smoother and more efficient for everyone involved. This article provides valuable tips to enhance the claims process, making it easier for both claimants and claims professionals. Key Takeaways Understanding the Claims Process When you think about the claims process, it’s important to know what it really means. Understanding the key terms can help you navigate through it more easily. In today’s world, technology plays a huge role in making claims faster and more efficiently. For instance, innovative solutions like those from Rellevate offer instant digital transfers that make
Improving Student Athlete Per Diems
Student athlete per diems are the daily allowances given to college athletes to help cover their living expenses while they are away for competitions. These funds are crucial for ensuring student-athletes can focus on their sports and studies without worrying too much about money. However, the current system often falls short, leading to various challenges. This article explores the current state of student-athlete per diems, the financial impacts of insufficient funds, innovative solutions to improve these allowances, and the necessary policy changes to support student-athletes better. Key Takeaways Understanding the Current State of Student-Athlete Per Diems Student-athletes today face a complex landscape regarding their per diem allowances. These allowances are crucial for covering daily expenses while competing. Historically, the rules around per diems have changed
Guide To Paying Volunteers With Stipends
When it comes to supporting volunteers, offering stipends can be a helpful way to show appreciation for their time and effort. This guide will explore what stipends are, their benefits, and how to set up a stipend program effectively. Understanding the ins and outs of paying volunteers with stipends can make a big difference in how organizations engage with their volunteers. Key Takeaways Understanding Stipends for Volunteers When you think about volunteer work, you might wonder, can volunteer work be paid? The answer is yes, but it’s usually in the form of a stipend. A stipend is a small payment meant to help cover basic living costs. This type of payment is often used for long-term volunteer positions, making it easier for people to commit
Over 80% Of Insurers Look To Fintech Partners For Instant Payment Solutions
What’s Happening and How Rellevate Can Help The Insurance sector is now placing an even higher importance on instant claim payouts and increased policyholder satisfaction resulting from a zero-cost out-of-pocket experience. 82% of large Insurance carriers and 77% of small carriers are now forging new or expanded partnerships with FinTech companies to accelerate and help navigate their real-time payment process The move to FinTech partnerships and real-time disbursements also accommodates the growing interest in ’embedded insurance’ and other non-traditional insurance arrangements. As these products become more ubiquitous, more executives recognize their substantial revenue potential with 81% of executives predicting that embedded insurance will quickly morph from a “nice-to-have” to a “must-have” The Importance of the Right FinTech Partnership: Going Instant may seem like a simple
Disbursement vs Reimbursement
In this article, we will explore the differences between disbursement and reimbursement. Understanding these two financial concepts is essential for managing money effectively in business operations. We’ll break down what each term means, how they are used, and why it matters to distinguish between them. Key Takeaways Understanding Disbursement and Reimbursement Definition of Disbursement Disbursement refers to money paid out by a business or organization. This can include payments for salaries, services, or even loans. For example, when a company pays its employees, that’s a disbursement. Disbursements can also happen in other contexts, like when a student receives a scholarship from a school. Definition of Reimbursement Reimbursement is when a business pays back someone for money they spent on behalf of the company. This often
What Is Disbursement & How Does It Work
A disbursement in business or government refers to the payment of money from a fund or account to a third party. Understanding how disbursement works is essential for businesses and individuals, as it affects budgeting, cash flow, and financial management. This article will explore the various aspects of disbursement, including its definition, types, processes, and real-world examples. Whether you are a student, a business owner, or just curious about financial transactions, this guide will help you grasp the concept of disbursement and its significance in everyday financial activities. Key Takeaways Compensation payments (wages, commissions, dividends) Supplier payments for goods and services Tax payments to the government Loan payouts to borrowers Grant distributions Insurance claim payouts Understanding Disbursement Definition of Disbursement A disbursement is simply the
Digital Transformation in The Insurance Industry
Digital transformation is reshaping the insurance industry in many exciting ways. With the rise of new technologies, companies are changing how they operate and interact with customers. This transformation is not just about adopting new tools; it’s about creating better experiences for policyholders and improving overall efficiency. In this article, we will explore the various aspects of digital transformation in insurance, including the role of artificial intelligence, the challenges faced, and the benefits for customers. Key Takeaways The Role of Artificial Intelligence in Digital Transformation Artificial Intelligence (AI) is a game-changer in the insurance industry, driving significant improvements in various operations. AI enhances efficiency, allowing companies to process claims and manage policies faster. Enhancing Customer Experience Through AI AI tools help create a more personalized
Are Your Constituents Going Hungry Now That COVID Relief Measures Have Ended?
About 13.5% of households were food insecure last year with 10 states seeing increases in food insecurity What’s Happening and How Rellevate Can Help The percentage of American households experiencing hunger challenges rose again, marking the second straight year of increases in food insecurity after nearly a decade of decline, according to the U.S. Department of Agriculture. “When there are economic pressures that are squeezing household budgets, oftentimes it is the food budget that is the first to get squeezed,” -Kassandra Martinchek, Senior Research Associate at the Urban Institute Fast Fact: TANF Households Who Shop Frequently Can Maintain A Better And Steadier Calorie Intake Throughout The Month Families using food stamps tend to buy more food at the beginning of the month, with over 25%
Is Doom-Spending Affecting Your Employees?
What Is Doom-Spending? “Doom-spending” refers to a phenomenon that occurs when people spend more than they can afford to cope with stress. For example: concerns about the economy and foreign affairs, according to a study conducted by Qualtrics and Credit Karma What’s Happening and How Rellevate Can Help Nearly all Americans (96%) are concerned about the current state of the economy and two-thirds claim it’s giving them anxiety. Some of the most severe stressors include inflation, the inability to afford necessities and not having enough money to spend on things that bring happiness As a result, Americans who don’t have enough money to ‘pay bills, save and have fun’ are forced to skip the saving step and splurge on shopping sprees or travel to uplift
