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      <p>
        Carta, a private equity management platform, and Morgan Stanley at Work, a financial benefits workplace leader, formed an exclusive partnership to manage private-to-public company transitions.
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        The collaboration enables private companies on Carta's platform to seamlessly transition to Morgan Stanley at Work's public equity management system when going public. Carta companies will benefit from Morgan Stanley's expertise in public company equity management, investment banking, and wealth management services.
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        The partnership aims to support nearly 2,000 companies on Carta's platform that are on the path to IPO, offering services such as data cleanup, personalized guidance on the listing process, and customized communication plans for stakeholders during the transition.
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  </ul>
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  <p>
    <a href="https://www.businesswire.com/news/home/20241112293244/en/Carta-Announces-Exclusive-Streamlined-Solution-With-Morgan-Stanley-at-Work-for-Private-Companies-Seeking-to-IPO">
      Press release
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Financial Wellness Tools

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 <p>Carta, a private equity management platform, has partnered with Morgan Stanley at Work to manage transitions from private to public companies. This will allow private companies on Carta's platform to switch to Morgan Stanley's public equity management system when they go public.</p>
 <p>Companies with Carta will enjoy Morgan Stanley's expertise in fields like public company equity management, investment banking, and wealth management services. The partnership aims to assist about 2,000 companies on Carta's platform, eyeing an IPO, by providing services like data cleanup, guidance on the listing process, and personalized communication plans for stakeholders during the change.</p>
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Carta partners with Morgan Stanley at Work for IPO transition solutions

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<p>Candidly, previously known as FutureFuel.io, has introduced "Onward", a debt optimization tool for its financial wellness platform. The tool can be used by providers of workplace financial solutions such as 401(k) and 403(b) recordkeepers, and retirement plan advisors.</p>

<p>The Onward tool, initially available solely as an API, offers real-time, customized decision support. Combined with actionable steps, the tool aids users in reducing consumer debt and re-investing those savings into deposits that yield interest.</p>

<p>The Onward API is designed to be highly flexible and can be effortlessly integrated into a firm's existing offerings, such as HSAs, FSAs, brokerage accounts, IRAs, and retirement accounts. Based on technology with a pending patent and rooted in behavioral economics, Onward addresses the real-world financial hurdles people face managing their money.</p>

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Candidly launches new debt optimization solution for workplace

ANALYST_QUICK_TAKE

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 <p>Financial Finesse, a company providing financial coaching to employees, has purchased a platform named Color that focuses on aiding employees of color, for an unknown amount.</p>
 <p>Launched in 2020, Color delivers tailored coaching and financial resources to promote financial wellbeing among employees from marginalized backgrounds, enabling them to generate wealth and achieve financial stability.</p>
 <p>With this purchase, Financial Finesse looks forward to incorporating Color's platform and sharing its content with its entire user base, which is comprised of individuals from over 20,000 companies.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The acquisition follows a strategic partnership announced in <a href="https:<br>
//sp-edge.com/updates/20047"> July 2023 </a> , in which Financial Finesse, through its venture arm, invested in OfColor. As part of this collaboration, OfColor also leveraged Financial Finesse's expertise to expand its platform.</p>

Financial Finesse acquires OfColor for undisclosed amount

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<p>Brightside, a financial coaching and debt management support platform for employees, has chosen Helix by Q2's banking-as-a-service solutions for its savings, checking, and business operations accounts.</p>
<p>The collaboration with Helix allows Brightside to expand its services beyond its previous vendor, and directly liaise with its banking partner, negating the requirement for FBO accounts or intermediary software.</p>

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Brightside selects Helix by Q2 to power financial solutions

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 <p>DailyPay, a platform for earned-wage access (EWA), has introduced a new product feature named International Remittances. Financial technology solution ReadyRemit by Brightwell and Visa Direct power this feature. </p>
 <p>This feature of International Remittances enables users to readily access and transfer their earnings to their friends and family globally. This transfer is possible through a single app and doesn't require users to wait for a scheduled payday.&nbsp;</p>
 <p>In collaboration with Visa, this feature will allow DailyPay to extend its money transfer service to cards and bank accounts in over 70 countries. This new feature will supplement its existing work tech platform, offering an EWA solution, the DailyPay Visa Prepaid Card, and Credit Health. </p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The new feature offers a one-stop solution for workers to easily access wages and transfer funds across borders and follows the company's announcement last month of its <a href="https:<br>
//www.dailypay.com/press-center/press-releases/dailypay-announces-international-expansion-into-the-united-kingdom/"> international expansion to the UK </a> .</p>

DailyPay expands services with new International Remittances feature

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 <p>DailyPay, an earned-wage access (EWA) platform for employees, has secured an additional USD 100 million commitment to its credit facility from Citi, doubling its existing credit facility from Citi to USD 200 million.&nbsp;</p>
 <p>The secured credit facility will fuel DailyPay's services and support its expanding list of client businesses.</p>
 <p>DailyPay currently partners with leading employers across various industries, from Fortune 500 companies to small businesses, to offer their workers earned wage access and other products and services.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> <a href="https:<br>
//sp-edge.com/updates/25685"> In January 2024, </a> the company raised USD 175 million in funding, comprising USD 100 million via an incremental credit facility from Citi and USD 75 million in equity funding led by Carrick Capital Partners . The funds were earmarked for product innovation and expansion into adjacent business segments and new markets.</p>

DailyPay secures additional USD 100 million commitment to credit facility from Citi

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 <p>The Biden-Harris Administration has given the go-ahead for an additional USD 4.5 billion in student debt cancellation. This decision affects over 60,000 borrowers and is part of the Public Service Loan Forgiveness (PSLF) program. With this new addition, over 1 million public service workers have now received debt relief.</p>
 <p>The total student debt relief approved by the Biden-Harris Administration has now reached an impressive USD 175 billion. This has had a direct impact on nearly 5 million Americans, with an average of USD 35,000 in debt cancellation for each borrower.</p>
 <p>With a view to encouraging more public servants to enroll in the PSLF program, the Department of Education is launching new initiatives. These will range from outreach to governors and mayors, to partnerships with public sector unions, helping to provide education and support for their union members.</p>
 
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Biden announces student debt relief for 1 million public service workers

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 <p>Instant Financial, a provider of fee-free on-demand pay solutions, has introduced Instant Direct. This new tool permits employees to access their earned wages ahead of the conventional payday cycles. They can transfer these funds to their bank account or use the Instant Card.</p>
 <p>Instant Direct offers an earned wage access (EWA) functionality which allows employees to receive their wages beforehand. It makes the implementation process easier for employers through simple communication about employee eligibility and by providing various EWA models.</p>
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Instant Financial launches Instant Direct for on-demand pay access

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 <p>Retailer Destination XL (DXL) has collaborated with earned wage access solutions provider, DailyPay. This association will allow DXL's employees across its 250+ stores to have access to their earned wages at their convenience. It aims at empowering the employees to manage their expenses, save, spend, and invest at their chosen pace.</p>
 <p>An Arizent study has shown that DailyPay's solution has led to substantial positive effects in the retail sector. The study indicates that 65% of users keep track of their earnings daily which has resulted in improved financial confidence (70%), increased work motivation (46%), as well as higher job satisfaction (56%).</p>
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Destination XL partners with DailyPay to offer earned wage access to employees

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 <p>EarnIn, a pay-as-you-go platform, has introduced new features for its Balance Shield product to aid users in regulating their bank balances and circumventing overdraft charges. The program interacts with the users' existing bank accounts and doesn't mandate a bank change.</p>
 <p>The Balance Shield provides free immediate alerts when bank balances dip below a client-defined threshold from USD 0–500. It also offers customizable transfers up to USD 100 from the available balance to bank accounts and the option to manage alerts and transfers. The service comes with no subscription or commitment obligations.</p>
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All Updates

Carta partners with Morgan Stanley at Work for IPO transition solutions

Candidly launches new debt optimization solution for workplace

Financial Finesse acquires OfColor for undisclosed amount

Brightside selects Helix by Q2 to power financial solutions

DailyPay expands services with new International Remittances feature

DailyPay secures additional USD 100 million commitment to credit facility from Citi

Biden announces student debt relief for 1 million public service workers

Instant Financial launches Instant Direct for on-demand pay access

Destination XL partners with DailyPay to offer earned wage access to employees

EarnIn launches enhanced Balance Shield feature to prevent overdraft fees

Financial Wellness Tools

Carta partners with Morgan Stanley at Work for IPO transition solutions

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