His innovation: Schlossberg founded Even, a financial wellness app offered as a benefit for hourly and mid-level employees. Even provides automatic budget planning, savings and Instapay — the ability to withdraw up to 50% of earned wages ahead of payday to help with short-term cash needs.
Why it matters: Many workers live paycheck to paycheck — and nearly half of Americans don’t have enough cash available to cover a $400 emergency, according to the Federal Reserve. That’s causing many to bridge short-term cash needs with payday loans and bank overdrafts, which drive them deeper in debt. Even addresses this problem and is catching the attention of big employers. In December, Walmart pioneered the deployment of Even as a benefit nationally to its 1.4 million employees.