- Chime Enterprise launched Chime Workplace, offering employers a single platform with financial wellness tools and an aggregated view of employee financial health.
- The suite includes tools for income management, savings, credit building, and an employee rewards program modeled after airline miles programs.
- Chime is expanding its fintech offerings significantly, having recently launched premium memberships, instant micro-loans, and free tax filing to attract underbanked users and enhance financial inclusion.
Chime Enterprise, the enterprise division of the neobank Chime, announced the launch of Chime Workplace, a financial wellness services suite available to employers and employees.
Chime Workplace offers free financial tools with workforce financial health insights for employers. The newly launched platform takes existing Chime tools and brings them to employees via the employer portal. Among the tools included are pay and income management tools, a high-yield savings account, credit health and credit building tools, and an employee rewards program that is modeled after airline miles loyalty programs.
“Employers have told us their biggest frustration with existing financial wellness programs is that they don’t make an impact or empower employees to get to the next step in their journey,” said Chief of Chime Enterprise Jason Lee. “Multiple vendors, logins, and endless apps only compound this problem and, ultimately, hinder effectiveness. Chime Workplace works with employers to solve these challenges by delivering one trusted app that meets employees where they are and gets them to where they want to be.”
While the financial wellness capabilities launching within the employer portal are not new, the employer visibility piece is. The financial health insights piece shows employers aggregated insights into their employees’ financial health, including their savings growth, credit health improvement, and engagement with the tools. These stats can be important for employers, as two out of three workers consider financial health the top area where they seek employer support, and nearly three-quarters of financially stressed employees prefer an employer that genuinely cares for their financial well-being.
Chime Enterprise was formed in 2024 after Chime acquired employee rewards and loyalty platform Salt Labs. Chime simultaneously unveiled news of its own today. The company is launching a premium membership tier called Chime+ that will offer a higher savings rate, custom cashback offers from retailers, and expedited customer support.
These changes come in addition to the California-based company’s launch last week of Instant Loans, a micro-lending product offering up to $500 instantly with a fixed interest rate. Additionally, the company announced a fee-free tax filing service in partnerships with April and Column Tax in January.
Chime is obviously working hard to become a robust competitor in the challenger banking field. Deeper than that, however, the fintech is positioning itself to capture the attention of underbanked individuals. By offering a seamless user experience, financial wellness solutions, and tailored financial products such as micro-loans and workplace financial wellness tools, Chime is strategically aligning itself to attract both employers and employees alike. As Chime continues to diversify its offerings with premium memberships and enhanced app functionality, it’s clear the company aims not only to expand its footprint but also to solidify its role as a trusted partner in helping underserved communities achieve financial stability.
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