Rain only needs first and last name, unique employee ID, wage rate, wage type, and email or cell phone number in order to power our solution. Unlike other providers, we do not require any additional personally identifiable information (e.g. Social Security number, or date of birth).
Rain uses data to calculate the employee’s actual earned wages and identify the employee when they attempt to sign up on the Rain. The contact information is used for identification purposes and communicating to employees to raise awareness of the benefit.
Rain operates its own proprietary data ingestion system in order to offer its Earned Wage Access product to employees. Raw employment data provided to Rain by the employer customer are never shared to any third party.
The Highest Compliance Standards
Rain meets all the guidelines for Earned Wage Access Programs set by the Consumer Financial Protection Bureau (CFPB) in 2020.
Some Earned Wage Access providers offer a payroll intercept model where a provider-controlled account will intercept the employee’s entire paycheck. Such models are not compliantwith the CFPB guidelines.
