Elevate Named "Best Consumer Payments Platform" in 9th Annual FinTech Breakthrough Awards Program

 Prestigious Annual Awards Program Recognizes Outstanding Financial Technology Products and Companies Around the World

DENVER, March 19, 2025 /PRNewswire/ -- Elevate, a modern consumer directed benefits administration platform, today announced that it has been selected as winner of the "Best Consumer Payments Platform" in the 9^th annual FinTech Breakthrough Awards. The program is conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market.

Elevate is simplifying healthcare accounts for U.S. workers and ensuring faster access to benefits funds with the industry's first completely cloud-based, API-driven, and AI-enabled consumer directed benefits platform. The solution enables consumer conveniences like instant claims processing, real-time reimbursements, automated claims submission, and a single payment card for multiple plans with chip security and contactless payments.

"Elevate is challenging the status quo of the legacy benefits systems. For the more than 100 million Americans relying on consumer-directed benefits, using funds can be cumbersome. Not only is reimbursement often a tedious process, but existing platforms were built before cloud, mobile and API-oriented designs were mainstream," said Steve Johansson, managing director, FinTech Breakthrough. "Elevate is automating the entire process from end to end, replacing the legacy formula with a modern platform that connects employees to their money in seconds. We're honored to award Elevate with 'Best Consumer Payments Platform' for 2025!"

Elevate's platform also simplifies healthcare accounts for benefits administrators by offering: 

• Integration of all benefit functionality into existing systems through APIs to create a unified experience for employers and consumers
• Automation of key processes, including financial reconciliations, employer setup, file integration, and claim processing, to reduce errors and save time
• Advanced reporting that provides deep insights and program analytics
• A clean, modern interface that saves admin teams time and effort 

"At Elevate, we designed our platform to finally fulfill the original intention of benefit accounts and the promise that was made to American workers decades ago—a way to pay for needed care quickly, easily and conveniently," said Brian Cosgray, Elevate co-founder and CEO. "We're grateful to FinTech Breakthrough for this recognition. We continue to enhance our solution to transform the entire customer journey with elegance and simplicity, increasing accuracy and customer satisfaction while lowering operating costs—all at the same time." 

The FinTech Breakthrough Awards is the premier awards program founded to recognize the FinTech innovators, leaders and visionaries from around the world in a range of categories, including Digital Banking, Personal Finance, Cryptocurrencies, Lending, Payments, Investments, RegTech, InsurTech and many more. This year, Elevates joins an elite group of distinguished winners across multiple categories, including Brex, Mastercard, Revolut, Citi, FIS, Hopper, Xero, Payoneer, Experian, Bolt, Capital One, BILL, Remitly, and Ramp.

About Elevate
Elevate is the first completely cloud-based, API-driven and AI-enabled consumer directed benefits platform with a focus on configurability, embeddability and real-time automation. The all-in-one platform can manage all types of benefit accounts, from health savings accounts (HSAs) to complex health reimbursement arrangements (HRAs), and even commuter and lifestyle accounts. Elevate team of industry experts recognized the need for modern technology in an outdated benefits administration industry, which led to the creation of Elevate in 2020. Today, Elevate collaborates with forward-thinking partners, including professional employer organizations (PEOs), third party administrators (TPAs), health plans, benefits administrators, and financial services companies, to provide a fully integrated benefits account experience for thousands of employers and their employees across the U.S. Learn more at www.elevate.inc

About FinTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for technology innovation and leadership around the globe, the FinTech Breakthrough Awards program is devoted to honoring breakthrough innovation in Financial Technologies and Services companies and products. The FinTech Breakthrough Awards provide public recognition for the standout achievements of FinTech companies and products in categories that include Payments, Personal Finance, Cryptocurrency, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. For more information visit FinTechBreakthrough.com.

Tech Breakthrough LLC does not endorse any vendor, product or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.

SOURCE Elevate