Instant Salary Payments earns prestigious industry recognition
Andover, June 22 2023 – CloudPay’s Instant Salary Payments was named the Best FinTech Solution of 2023 as part of the annual SIIA CODiE Awards. The prestigious CODiE Awards recognize the companies producing the most innovative Business Technology products across the country and around the world.
CloudPay’s Instant Salary Payments is a new method of money movement, which, when coupled with our CloudPay NOW app, makes it possible to pay employees directly to their debit or credit card virtually anywhere in the world in as little as 30 seconds. It has transformed how and when employees are paid as workers are no longer tied to fixed monthly payroll dates and gives them better control of their payroll arrangements. It provides on-demand access to wages that have already been earned, with minimal disruption to company payroll departments.
Businesses too can benefit from crucial time savings and financial gains with Instant Salary Payments. Salary payments can now be processed on the nominated payroll day, rather than having to allow time for payments to make their way through the banking system, which typically takes 2-3 days. Such time savings are critical for payroll teams that constantly battle against the calendar to achieve accurate and timely salary payments. It also means that capital can stay in employer bank accounts for longer, aiding cash flow and potentially boosting interest payments.
“We are truly honored to win the Best FinTech Solution in the 2023 Business Technology CODiE awards,” says Nick Newman, Strategy Director, Treasury at CloudPay. “This award really is testament to the hard work of our talented team members who dedicate themselves to improving the employee pay experience – ensuring employees get paid accurately, on time, every time, everywhere. It demonstrates our mission to transform our industry and deliver the Modern Pay Experience with fast, flexible access to salary funds, which is hugely valuable for employers and employees alike and inspires us to continue driving positive disruption in our industry.”
“The 2023 Business Technology CODiE Award Winners maintain the vital legacy of the CODiEs in spotlighting the best and most impactful apps, services and products serving the business tech market.”, said SIIA President Chris Mohr. “We are so proud to recognize this year’s honorees – the best of the best! Congratulations to all of this year’s CODiE Award winners!”
The Software & Information Industry Association (SIIA), the principal trade association for the software and digital content industries, announced the full slate of CODiE winners during a virtual winner announcement. Awards were given for products and services deployed specifically for education and learning professionals, including the top honor of the Best Overall Business Technology Solution.
A SIIA CODiE Award win is a prestigious honor, following rigorous reviews by expert judges whose evaluations determined the finalists. SIIA members then vote on the finalist products, and the scores from both rounds are tabulated to select the winners.
Details about the winning products can be found at https://siia.net/codie/celebrate-finalists/