Kevin Coop, CEO of DailyPay on Earned Wage Access

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Why is it that, in 2023, we are still getting paid on a fixed schedule? It seems crazy to me that payroll systems that were built for batch processing on mainframe computers still maintain this batch mindset in a world where everything can be instant. We should be able to choose the exact cadence of when and how we want to be paid.

Kevin Coop, CEO of DailyPay
Kevin Coop, CEO of DailyPay

My next guest on the Fintech One-on-One Podcast is Kevin Coop, the CEO of DailyPay. The team at DailyPay has created the largest Earned Wage Access (EWA) business on the planet where employees of DailyPay customers can get early access to their earned wages whenever they want. This is a huge deal for those people living paycheck to paycheck.

In this podcast you will learn:

  • What attracted Kevin to the CEO role at DailyPay.
  • Why we are all still getting paid on these fixed time periods.
  • How DailyPay actually works.
  • What their app shows employees.
  • How often employees access their earned wage before payday.
  • The different features that they provide employees.
  • How they integrate with the employer payroll systems.
  • How these advances are funded.
  • The benefits for employers of adding DailyPay.
  • How DailyPay earns money.
  • How this is improving the financial health of employees.
  • How DailyPay is engaging with regulators at the state and federal level.
  • How they are partnering with the large payroll providers.
  • The different segments that are popular with DailyPay.
  • How Kevin thinks about the competitive moat that DailyPay has built.
  • The impressive scale they are at today.
  • His vision for the future of DailyPay.

Read a transcription of our conversation below.


Peter Renton  00:01

Welcome to the Fintech One-on-One podcast. This is Peter Renton, Chairman and co-founder of Fintech Nexus. I’ve been doing this show since 2013, which makes this the longest running one-on-one interview show in all of fintech. Thank you for joining me on this journey. If you liked this podcast, you should check out our sister shows The Fintech Blueprint with Lex Sokolin and Fintech Coffee Break with Isabelle Castro, or listen to everything we produce, by subscribing to the Fintech Nexus podcast channel. Before we get started, I want to tell you about the many opportunities you have to reach the Fintech Nexus community. We have an entire suite of digital products that includes webinars, in-depth white papers and case studies. We have advertising opportunities within our newsletter, website, and podcasts. We also do sponsored articles, dedicated emails, and much more. We can create a custom program designed just for you. If you want to reach a senior fintech audience, then please contact sales at fintech today. Today on the show, we are talking earned wage access. I am delighted to welcome Kevin Coop he is the CEO of DailyPay, a position he’s held now, since June of 2022. I wanted to get Kevin on the show, because I’m a huge fan of earned wage access. To me it is one of the great fintech innovations making a huge difference in people’s lives every day. So wanted to get Kevin on, we obviously talk about DailyPay and the mechanics of how it works, we go into some depth there, talk about the different partners they have. We talk about the impact that it has on employees and employers and the benefits that actually employers are enjoying because they provide their employees with access to DailyPay. We also talk about regulation, we touch on the large payroll providers and what how DailyPay is working with them, and much more. It was a fascinating discussion. Hope you enjoy the show.  Welcome to the podcast. Kevin.

Kevin Coop  02:23

Happy to be here. Peter.

Peter Renton  02:25

Great to have you. So let’s get started by giving the listeners a little background, you’ve worked at some pretty major enterprise companies in the data and analytics space. Not so much a fintech background, but love to kind of hit on some of the highlights of your career to date.

Kevin Coop  02:41

Yeah, sure. I mean, I’ve got, you know, sometimes we reflect on how long it’s been, which, you know, makes you kind of reflect on that and a little bit of a different way. But I’ve had a, you know, a number of successes over the years, primarily spanning operations, driving growth, sustaining profitability of various companies and sizes, going back to the the early days in the early internet days with transforming real estate online, then got into mortgage technology, which transformed around sort of decision support tools and became more efficient. And then for the last, say, 20 years really inside of a company called Verisk, which was really around financial services and solutions. And then most recently as the president of North America for Dun and Bradstreet, which has been around for about 182 years. Abraham Lincoln worked there, for example.

Peter Renton  03:34

I did not know that. 

Kevin Coop  03:35

Yeah, four presidents. It’s kind of a really, it’s a crazy history, when you really look back on it had four US presidents work there and you know, one of which was Abraham Lincoln back in the early days, and, you know, really around developing productization, driving efficiency at scale, really helping to right size and return in some cases in Dun and Bradstreet’s situation back to profitability. And I was really looking for an opportunity that had an impactful, meaningful mission that was really around high growth product really was impactful in transforming people’s lives. You could do good, stellar team. And, you know, frankly, DailyPay is at that nexus of moving from checks to direct deposit to now real time movement of money, you know, it’s one of those things that I’m sure we’re gonna get into that really, the time had come and it really was attractive, and I’m very happy to be here.

Peter Renton  04:27

And as I said, in my introduction, I am a big fan of earned wage access. I think it’s a fantastic innovation. So it’s not an obvious move to go from leading up a major firm like Dun and Bradstreet to heading up a fintech company. Not that DailyPay isn’t small anymore, but still a lot smaller than what you were at. What specifically was the thing that sort of got you over the line when it came to…was it DailyPay’s mission was, you wanted to get into fintech? How did it all come about? 

Kevin Coop  05:00

Well, a lot of it, you know, there’s the personal aspect. And there’s the professional aspect, right? So from the personal aspect is you really look at transformation from, from my experience, having a business that’s just large enough that you have, you know, people in charge of the copier. And you know, you’re not in those early, early startup stage, but you’re not so big that it’s difficult to transform, you can still actually make an impact. DailyPay was kind of the perfect size. Number two, the growth rate is, and we’re sustaining that, is ultra high growth, high growth company, that actually is in a really interesting strategic position, right? So we’re bringing a product and solution that benefits both the employer and the employee in a big way that you can quantify both. It’s in a space that if you think about even real time payments, DailyPay is second only on the planet, to PayPal in the amount of real time payments that we’re moving on a monthly basis. And so even though we’re a still relatively small by any kind of definition, if you’re comparing yourselves to companies like that, we have an outsized strategic importance in what’s happening on a global scale. And that’s pretty exciting. 

Peter Renton  06:06

So then before we get into the nuts and bolts of DailyPay, this is a question that sort of been bugging me for a while. And I’d love to get your perspective. You know, we’re here in 2023. So many things happen instantly. So many things happen on phones with great technology. And yet, it seems like when it comes to earning pay, earning your, earning your wages, that is still basically the same as it was 50 years ago, okay, you might get it as an electronic transfer. But you know, people were doing ACH 50 years ago, why are we still being paid on this fixed timeline? Whether it’s, you know, bi-monthly, monthly, weekly, or whatever? Why haven’t we moved into a daily payment of wages?

Kevin Coop  06:51

Yeah, it’s a great question. And it’s one of the you know, it’s so simple and obvious when you really think about it, but it’s something that people don’t usually think about is, why are you getting paid every two weeks? And in some parts of the world, right, it’s monthly. It’s really a function of, it’s a benefit that historically for the company, right, because the company doesn’t have to factor taxes and deductions and whatnot daily, they can do it every two weeks, you’re in essence, giving a loan to your employer, right your wage is earned, but it’s there for two weeks, in our case in the US, and the company can put that in their treasury account, and they’re earning interest on it. And then so it’s just the way that business has always worked. And so that’s really the foundational thing that DailyPay has been focused on that I’ve inherited, which is reimagining the way money moves from the way and moment that work starts. And it’s the fundamental problem that we’re solving.  So with many working people around the US and around the world, waiting two weeks can actually have a real negative impact. And so it’s not just in the sense that you’re waiting for your money, but you may have to suffer overdraft fees, there may be, you may have late fees, there may be rental payments that are due that you have to suffer. Some people and especially in the underbanked and non-banked segment, might have to resort to payday loans and other things that are there. And so in the world of real time and instant payments with mobile technology, and people that need access to things immediately, having to wait two weeks just doesn’t make a lot of sense. And so that’s really, Peter, what you’re asking is the reason that DailyPay exists and the mission that we think about every day.

Peter Renton  08:21

Right? Right. Okay, so let’s dig into it. I want to explain, if you could, how your system works. The mechanics of it, just tell us a little bit about how an employee can get paid whenever they want.

Kevin Coop  08:35

Yeah, so what DailyPay does, and it’s a very different way, there are many companies there that are actually attempting to solve this in different ways. And some are going direct to consumers, some have different business models than we do. We see ourselves as sort of the gold standard in how we do it. And it’s a little more costly on the behalf of what we have to do. But we think it’s a better end product that we deliver both to the employer as well as the employee. So what we do is we integrate directly through the employers timekeeping, payroll, and time and attendance systems. So it’s just like any other benefit that you would be signing up for as an employee, that you then, because of that integration that we do upfront, we’re able to very accurately assess and accurately provision to that employee, how much money and only that money that they’ve earned. So it’s true earned wage access. So if you’ve earned, however many shifts that day you may have worked, you have access to that money, same day.  Then what we do is once you see how much money you’ve earned, and on average, our employees typically look every day. When I say our employees, our customer’s end user, the employee, will typically look to see what the balance is, and they might make, they might make a withdrawal or an early, early access once a week, and they have the ability to either take that with a no fee option, which is with a next day, typically one day or two day advance. They can put it with another no fee access option. That they could put it instantly on the DailyPay Friday card, or there is a an instant access for a small transactional fee, like an ATM fee, if they want it immediately to any destination of their choice.

Peter Renton  10:11

Okay, so then maybe you could explain your app because I was digging around your app, what I love about it, I feel like we don’t actually know I don’t know how much money I have, that the company owes me for my payment. But your your app shows that right? It shows this is my account receivable, basically, as an employee to the company. And just explain what what the app looks like.

Kevin Coop  10:35

The application gives you a real time display of how much you have earned on your wages at your fingertips. And it’s as simple as that. So it’s an app that they can download on their phone, they have access to it, they can actually do it upon sign up through the onboarding process with the employer. Or they can do it, if you notice, you can go to the app store and you can download it. And then once you have that, it gives you real time access, because of our integration to the time and attendance portal through the company. We’re actually a benefit through the employer to the employee. So it’s real time access to their actual pay balance that’s updated in real time.

Peter Renton  11:09

Gotcha. So then, how often do people use this? I mean are they, you actually just said people look at it every day. Was it once a week, you said, is that the average as far as when people pull money down?

Kevin Coop  11:20

Yeah, approximately, and it can depend on, and it’s all channels, it’s both the free option, as well as if you average it with the instant option. But it becomes sort of the access point that you can see how much you have, you can look at it from the purposes of, we find that people are using it now as a way to have more access over their financial situation, do I need to pick up more shifts? Do I need to access the money now, in historically, a lot of times, especially with hourly, or underbanked, or non-banked individuals, which are the most vulnerable, they might have been using envelopes to keep their cash for rent, or whatever their payments are. Now they have the ability to do that through an interactive app, which allows them to have more control over their finances.

Peter Renton  12:03

This the debit card you were talking about that people can get their pay instantly to that debit card?  Is that what you’re saying there?

Kevin Coop  12:10

Well, there’s a really, there’s one aspect of it is our Friday card, which is the reloadable card. But we’ve also got as part of the DailyPay ecosystem, There’s the free financial coaching and counseling through the coordinated assistance network, we’ve got a cycle product, which allows our employer customers to pay people off-cycle. So there’s that feature, there is a very popular no-cost autosave feature, for example, that they can configure that they want to automatically save to a savings account out of their wages. They’ve got, there’s a reward component that the employers can use to reward and also a shift works tab, which allows the user to understand how much they’ve already earned, and to actually look at additional shifts. So it’s a way for them to communicate through the customer to see do I want to pick up more shifts? Do I need more based on whatever my financial profile is or what I’m looking for? So it’s starting to bring a greater degree of tools that often would not be available to hourly workers, but they can do it through the DailyPay interface. 

Peter Renton  13:14

Right, right. That’s, that’s interesting. So then, come payday, then what happens at the employer side is they look, you obviously you’re integrated, it’s read/write access, right? It seems like when they’re going to put the pay through, they know that DailyPay has been accessed twice in the last pay period. So this is the pay that they’re going to be receiving. Explain that integration.

Kevin Coop  13:38

That’s a great question. And so to help kind of illustrate that, and also helps to explain some of the different business models that are out there. So unlike others that have either a deduction or they have a, an advance, it’s a calculated advanced it’s more maybe akin to kind of a loan versus the pay, DailyPay does not do that. What we do is we’re underwriting the employer. And we’re in essence, factoring the payroll, I don’t want to get too complicated, but think of it this way. You’re the employee, you’ve earned $100. If you want to access that $100 from DailyPay, and it’s a no-cost option to put it on your Friday account. The pay would actually be advanced by us off of our balance sheet to you. On payday, we receive the pay from the employer, and we settle up any remainder that you haven’t drawn to you. It happens at the same time that everybody else would pay whether or not they were a DailyPay customer. And so we don’t have any recourse to the employee. So the risk that DailyPay takes is that the employer would not make payroll.

Peter Renton  14:42

Gotcha, gotcha. Okay. When you’re going out talking to employers, what’s the benefit for an employer to offer this?

Kevin Coop  14:50

Well, the benefit to the employer is they have to change for DailyPay. They have to change no treasury processes whatsoever. They pay every two weeks as they do today, after DailyPay is integrated, they still pay every two weeks. DailyPay is providing the benefit to their employees on their behalf. And it doesn’t impact their internal processes at all. The second thing that they do is by offering that employee benefit to the employer, we know statistically, that we can now prove and it’s proven out by our customers, that it has a higher impact on both the hiring and retention. Their employees are happier, the tenure, they stay longer, it’s about 35% over non DailyPay users. And it finds that they have 48% improvement in their motivation, meaning that their employees are telling them that they’re happier in their employment. And 52% of them have an improved opinion of their employer when they do their employee surveys. And that’s compared to non-employees that have that have chosen not to enroll in DailyPay. So the employer gets to keep their people longer. The people that are there are happier, and they actually respond that they are much more motivated while they’re employed. So it’s a great benefit to the employer. And in return, they get to deliver to their employee access to greater financial freedom for their pay. And it’s a win for both sides.

Peter Renton  16:09

That makes sense. So then, like, what’s your business model? I mean, you talked about you know, there’s a fee if you want to get it instantly to the employee. Are you really a B2B company that primarily when it comes to revenue?

Kevin Coop  16:20

How I would characterize it is it’s a B2B2C right? So our customer is the employer. And the employer model is, while we do have some, that’s not the majority, of employers to do subsidize the benefit, it ultimately is offered to the employee as a choice. And they have two free options and one instant option. If you choose the free option to say for example, the Friday card, Friday, now from that reloadable card, we’re making money on the ACH interchange fees. If they choose the instant option, which is an expedite fee, like an ATM fee, just like if you went to the bank and you withdrew a fee out of network, we make the money on the on the actual instant fee.

Peter Renton  17:04

Okay, got it. So then it all sounds great for the employee. Do you have any, any stats on actually how this is helping the financial health of the employees who are enrolled?

Kevin Coop  17:18

Yeah, so we save on average, an end user of DailyPay over $1,000 a year in cost avoidance and fees, it’s a big number, because if you think about the types of things that if you didn’t have access to your money, Peter, and you needed to wait until payday, if you have, and there are businesses that are predicated on late fees, including by the way banks, so there’s overdraft fees. So we have a $3 instant fee, versus you’re gonna have a $20 check bouncing fee, or you have a 5% late fee to your landlord. And it’s pretty, you just start to think about all the things that can impact your, you know, during the pay cycle, it’s a lot of different impacts, or fee avoidance that you have, including in many cases with our primary segment that we’re helping, our people that resort to payday loans. And we find that people that actually have signed up for DailyPay, that something north of even 90% never use payday loans again, it’s a big shift. 

Peter Renton  18:19

I love that. 

Kevin Coop  18:20

So the primary thing that we’re addressing are payday lenders. We’re also trying to even out the ability for people to have more control, because these are people that have, when you look at the way that they use and access the product, they’re not taking out $200 or $400 even, they’re taking out very precise amounts of money, right. These are like $137.15. These are people that are accessing their money for very specific reasons. And they do it with, in a thoughtful way. And we’re we have millions of people on the platform. So we’re now talking about a business in DailyPay, that we’re approaching a decade in business. And we have a lot of data behind this to show how people use the product and what they use the product for. And we’ve tried to be very, very conscious of offering this in the most reasonable way possible that we can operate as a company, but at the same time providing people, which is the mission, giving them access to their money, at their time, as they see fit.

Peter Renton  19:12

So what are the primary use cases for the money that they’re withdrawing?

Kevin Coop  19:16

Even though we could probably track that down, we don’t, right, but we just see the dollar amount that’s been accessed. I don’t know what they, we don’t report on what they’ve used the money for.

Peter Renton  19:24

So then, if they’re on a Saturday afternoon, and suddenly they they find themselves out of money, and they desperately need to pay somebody. You say this is instant, what technology are you using to push this instantly?

Kevin Coop  19:38

So yeah, we advance the money immediately upon demand. So the system that we have is a 24 hour system, seven days a week, but we’ll have a real time update of the number of hours worked, the shifts worked, and it’s real time, and so you can access your money at will. The settlement date for us occurs on the date of payroll. We would have advanced, for example, if it was you, Peter, you might have taken a $300 advance on a Saturday. But your payday isn’t until the following Friday. DailyPay is factoring that advance to you. And we do that off of our line of credit and on our balance sheet for seven days until payday. So on average, we have about 11 days outstanding is the length of time that we have to basically finance that loan. So when you think about the fee structure, Peter, and this is the important thing, as you think about how we’re making this happen. We’re actually taking the cost on advancing those funds, right, we’re absorbing that interest in that time available, and the technology and everything else that goes into actually supporting it, including the support lines, the people that do that, that activate it, that help the business, maintain it, enroll people, all that stuff’s going on every day through DailyPay.

Peter Renton  20:50

Okay, I want to switch gears a little bit and talk about industry regulation, because in the news we’ve seen this year, Nevada and Missouri have both passed legislation on earned wage access. There’s still nothing at the federal level. How is DailyPay engaging with regulators both at the state and federal level?

Kevin Coop  21:11

So great question, Peter. One of the things that was probably number one on the list when I arrived, is we need regulatory certainty. We are huge proponents of that. This industry needs regulation. And we believe that once it’s in place across the world, it will benefit everybody. So we’re very much behind that. And we’re supportive of it. And we’re working in collaboration with the industry to see that that’s done. So we, I would say in the situation for Nevada, we helped sponsor that bill, that was a kind of a DailyPay legislation. And the same thing is true, we supported Missouri, and I think you’ll see probably somewhere between five to seven states next year, coming on board. And we know that the at the federal level that there is interest in looking at this too, and we are cooperating and actually encouraging that, because we think it’s the right thing to do for everybody.

Peter Renton  22:02

Okay, that’s great to hear. I think, as I say, this is a great financial inclusion tool. I can’t, I mean, regulators should be climbing all over themselves to make this happen. But anyway, I want to talk about the big payroll providers, like you’ve got the ADP, the Paychex of the world. Even QuickBooks has a huge payroll component. How are you interacting with them? What’s your relationship with with these companies?

Kevin Coop  22:26

Yeah, they’re very important. I mean, they’re big, they have great reach, they’re critical to making DailyPay work. So we have a myriad of strategic partnerships with both payroll and HCM companies like ADP, Workday, SAP, UKG, Oracle, and many more. We’re very, very proud of the white label EWA  solution that we power for example, ADP’s Wisely platform, that is DailyPay. 

Peter Renton  22:56

I was wondering about that.

Kevin Coop  22:57

And also partner with banks and fintechs. So for example, Santander, we’re working with PNC, PNC’s EarnedIt solution is DailyPay, TD Bank, and more to come. So that’s a big part of our strategy. And so we work enthusiastically with those folks to help power this. It’s a specialized product. And for the most part, I think that over the last decade, people have realized it’s not core to what they do. And this is a very simple concept, but it’s very, very difficult to pull off well. And I think DailyPay has shown that we’re the leader in this space, and we continue to extend that lead.

Peter Renton  23:32

So then what percentage of people are like W-2 employees? Are you able to cover, just a sense of that?

Kevin Coop  23:41

Well, we could cover everybody, we do have a W-2 salaried option too. But that doesn’t make up the majority of our current users today. But what we’re looking at here, Peter, and you know you we’ve talked about Dun and Bradstreet earlier, and sort of the 182 year history going back to Abraham Lincoln. It’s the same mindset that I brought here, and that we’re building a generational company that will hopefully be here in the same length of time after I’m long gone. And if you do that, and as pay is transformed for good, and it becomes real time, everybody eventually will have access to their earned wages, real time, including salaried individuals, we do find that there becomes a lessening of usage and need when you get to a certain salaried point. It’s somewhere around let’s say $100,000, which is, which is still a relatively, you know, high number, but we do have a salaried product as well, but it isn’t as currently as much in demand, but I think that’s going to be impacted with with legislation and regulatory certainty. I think you’ll see a shift there.

Peter Renton  24:38

Right. So the majority, the vast majority of the customers are like hourly workers.

Kevin Coop  24:43

Yeah. And it’s and it’s concentrated in some segments like you can think about, you know, hospitality, you’ve got retail, fast food, healthcare. So we’ve seen more and more as segments start to come online, but it is still heavily skewed towards hourly workers today.

Peter Renton  25:00

So your competitive moat, it sounds like, are all these relationships and the systems that you’ve built because, you know, I was thinking, well, why doesn’t just ADP offer this? And I know I was gonna ask you about the Wisely product, they do offer it. And it’s actually your technology. So I think you’re the biggest in the space. How do you think about your competitive moat?

Kevin Coop  25:19

Yeah, and this is something that, you know, I have intimate experience with having been at both early stage and also large, global enterprises. So a lot of times, if you look at a larger global enterprise, and you think, okay, this is a really easy thing for them just to dominate the space. Well, you don’t see under the covers that this may be collections of dozens or hundreds of platforms that haven’t been rationalized, that do not have an easy way to push out new releases. And they’ve got other challenges that they have to deal with around their core business, let alone something that’s an emerging nascent business. And so I think over the last decade, people have sort of, for the most part, not all, but most have concluded on hey we’d be better to power and partner with the best of breed, rather than trying to do something that isn’t core. But that’s on the sort of enterprise side.  Then you’ve also got the notion around, okay, we’ve got, again, DailyPay, because we have a large line of credit. And we’re advancing payroll, and factoring payroll, hundreds of millions of dollars, most people don’t have access to that type of capital. And that’s very expensive. And it takes a lot of expertise to do that well. So it’s not for the faint of heart to enter this to say, I’m going to actually enter, and I’m going to start factoring payroll for some of the type of enterprises that we do, because we’re not dealing with small companies. DailyPay has worked and started focusing on strategic customers, which are have a large footprint and hundreds of thousands of employees. So now you have to be able to financially do that in a way that the business enterprise is confident that you’re a partner that they’re relying on with with their most strategic asset, their employees, that you’re not going to screw that up. Then you need to be able to do that in a way that you can financially do that, and show that you’re going to be able to make money at it. And so I think it’s a combination of, you know, we were first, we came up with a very interesting business model that I think is sustainable. And we have the complexity in the back office, that isn’t something that you’re just going to do tomorrow. This is what you would expect by people that were founded by Goldman Sachs structured finance professionals that really understood how money works. And we’re able to structure the back office in order to do what we do in the way that we do it.

Peter Renton  27:27

So do you have some numbers you could share about scale? I mean, you said you were the like the number two instant payment transfer the after PayPal. Do you have some raw numbers that you can share about the number of people, number of transfers, that sort of thing?

Kevin Coop  27:41

Yeah. So if you think about real time payments, RTP, which I don’t know, Peter, if you’ve been following or tracking that? 

Peter Renton  27:47

Oh, yeah. 

Kevin Coop  27:47

So if you think about just RTP, that’s what I was talking about from how much we transfer, we moved over, say the last nine months, somewhere in the neighborhood of six and a half billion dollars in real time payments. And overall payments are significantly greater than that.

Peter Renton  28:03

Okay, so last question. Then, I told my kids who were 14 and 16, that when they, when they’re in the prime of their own careers, they’ll get paid whenever they want. It’s just going to be, you want to be paid every day, you get paid every week, every two days, whatever. But I’d love to get your sense of the vision for your company. What is it?

Kevin Coop  28:22

So we have a two pronged kind of approach here. The first is, we have the mission of bringing and transforming the way money works at the moment pay starts is just beginning, we’re very, very low penetration at this point. And so we want to make sure that we’re really vigilant and we don’t take our eye off the ball, which is demand right in front of us. So we have to do PWA every day. And we have to do it with literally a relentless focus on quality, like our expectation for the availability of this platform is 100%, not five nines, it’s got to be 100% every single day, because you’re talking about people’s pay. The number two is now that you’re providing that type of financial wellness, what else can you start to bring under the tent, that rounds out a more holistic solution for both the employee with consumer, you know, financial services? But also staying true to the human capital management aspect of it without getting too far into the weeds with a lot of our strategic partners. So if you think about the folks you asked about earlier, right, which was a lot of the HCM vendors or you start talking time and attendance, there are things that they aren’t going to do because they can’t do it well, which are obvious adjacencies for DailyPay. And because of our partnership, we’re working cooperatively with them to craft a roadmap, that gives us a very good path forward and product adjacencies, but still maintaining those relationships with our primary business partners, and delighting our business customers today, which are central to the way that we work.

Peter Renton  29:56

Okay, we’ll have to leave it there Kevin. It’s a fascinating story. Really important work that you guys are doing and best of luck to you.

Kevin Coop  30:03

Yeah, I appreciate the time. It was great talking to you.

Peter Renton  30:07

Well, I hope you enjoyed the show. Thank you so much for listening. Please go ahead and give the show a review on the podc