New Research by Volante Labs Exposes Predatory Lending Crisis and Solution
Media Contact:
Joey Bertschler
joey@volantechain.com
+818029589517
Volante Labs has released a study analyzing how earned wage access (EWA) technology impacts predatory lending practices. The research, examining 600 companies across multiple industries, demonstrates that EWA implementation reduces predatory lending by 69% while generating significant cost savings for workers.
"Traditional payday lenders charge up to $300 in fees for a $1,000 loan on average," said Joey Bertschler, Chief Executive Officer of Volante Labs. "When workers can access their already-earned wages in a timely manner, they esc ape the debt trap. The advent of technology has made daily wage payments practical again."
The study, "A Global Analysis of Earned Wage Access Implementation and Impact," tracked over 1,000 workers and analyzed 27 sources, revealing:
- Workers save up to $260 per $1,000 accessed compared to traditional lending alternatives
- 89% of participants reported reduced financial stress and improved ability to manage expenses
- Implementation of EWA systems significantly decreased reliance on payday lending services
"The delay between work and wages isn't just outdated," said Bertschler. "When companies hold workers' wages for weeks, they earn interest while creating a cycle where workers effectively borrow their own money back at extortionate rates."
About Volante Labs: Volante Labs is a financial technology company revolutionizing payroll systems through advanced EWA solutions. Founded in November 2024, the company develops enterprise-grade technology enabling employers to provide workers with immediate access to earned wages.
Contact Information:
- Corporate Headquarters: 1st Floor, Ellen Skelton Building, 3076 Sir Francis Drake's Highway, Road Town, Tortola, VG1110, British Virgin Islands
- Email: toiawase520@gmail.com
About Joey Bertschler:
- Founder and CEO of Volante Labs Limited
- Former OpenAI AI specialist
- Silicon Valley-trained software engineer
View source version on businesswire.com: https://www.businesswire.com/news/home/20250124851431/en/
