Chime Enterprise launches Chime Workplace
Chime Enterprise, the enterprise division of digital banking startup Chime, announced the launch of Chime Workplace, a “next-generation” financial wellness suite of services available to employers and employees at no cost. Chime Workplace combines Chime’s financial tools with workforce financial health insights in a “seamless” solution for employers. This launch marks a key milestone in Chime’s expansion into the enterprise segment, following its acquisition of Salt Labs last year.
With Chime Workplace, employers can now deliver a comprehensive suite of employee benefits including:
- Capital Management: Employees can take control of their daily finances through a combination of pay and income management offerings, such as get paid up to two-days early with Get Paid Early, fee-free overdraft coverage with SpotMe, and on-demand pay access with MyPay, which launched to eligible consumers in 2024, allowing them to access their pay before payday.
- Capital Growth: Employees can build their savings – for emergencies, special plans, or personal milestones. These solutions encourage employees to save automatically and accelerate their growth through a high-yield savings account, helping employees reach their long-term goals faster.
- Capital Expansion: This benefits category serves as an on-ramp for employees beginning their credit journey. By starting with credit health tracking, individuals can monitor and improve their personal credit profiles from the outset. From there, Chime Workplace allows employees to build credit history through everyday purchases, which helps them work toward long-term financial goals.
- Employee Rewards & Loyalty: Chime Workplace introduces a premium add-on employee rewards and loyalty program that goes beyond traditional compensation. This solution recognizes and celebrates employees’ work milestones and achievements, enhancing engagement while supporting their medium and long-term goals.
Chime Workplace provides employers with a centralized platform that simplifies benefits administration while boosting employee participation. Employers gain aggregated and measurable insights into the financial health of their employee base—such as savings growth, credit health improvement, and overall engagement—through a centralized data portal.
“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. 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.” – Jason Lee, Chief of Chime Enterprise.
