SteadyIQ Unlocks Insights into Non-standard Workforce for Employers, Governments, Financial Institutions

1099, hourly, and gig workers make up more than ⅓ of the U.S. workforce; SteadyIQ creates workflow solutions to streamline benefits administration, quantify earnings and understand their financial health

ATLANTA, May 3, 2022 /PRNewswire/ -- Steady, developer of the popular fintech app used by more than five million workers to track and boost their earnings, today announced the launch of SteadyIQ. As the enterprise and public sector arm of Steady, SteadyIQ draws upon anonymized data from more than 1.5 billion enriched financial transactions and over $140 billion enriched deposits to deliver a suite of analytics and workflow tools to employers, financial institutions, and government leaders.

"From benefits administration to employment, the systems we use to track and verify earnings were simply not designed with non-standard workers in mind," said Adam Roseman, Founder and CEO of Steady. "By securely analyzing and enriching our financial and profile data from millions of workers, we can not only unearth workforce and economic trends — but also create solutions that reduce time and administrative burden, increase equity, address fraud, and improve outcomes."

Steady launched in 2017 with the goal of harnessing the potential of emerging technology to alleviate poverty. In the wake of the pandemic, several state governments partnered with Steady to create workflow solutions to support administration of unemployment insurance and other safety net benefits for non-standard workers. The company is also the leading administrator and impact data provider for cash assistance grants in partnership with city leaders across the country.

As the enterprise arm of the popular consumer platform, SteadyIQ leverages Steady's patent-pending, scalable machine learning technology to support three primary applications:

• Government. SteadyIQ has already supported the state of Alabama and the Louisiana Workforce Commission by streamlining the income verification process for unemployment benefits. Over 20 cities, including Gainesville, FL; Atlanta, GA; Tacoma, WA; and Baltimore, MD partner with Steady to administer and track the real-time impact of innovative cash grant programs.
• Employers. SteadyIQ's targeted real-time insights on workers' financial health are enabling major employers to better understand the needs of their workforce, in ways that support hiring and talent retention, while also improving workers' financial lives.
• Financial Institutions. SteadyIQ is helping FIs serve their clients, many of whom are non-standard workers and have historically struggled to demonstrate income stability and credit quality, through an improved understanding and support of their incomes.

"Steady is built upon the belief that equity and economic opportunity are two sides of the same coin," said Shaquille O'Neal. "Now, with SteadyIQ, it's about using insights from an app that has served millions of workers to increase their access to public benefits, and help employers."

About SteadyIQ
SteadyIQ is the leading source of insights into the 1099, gig and contingent workers that now make up more than one-third of the U.S. workforce. Our workflow solutions are used by state agencies to unlock access to benefits by verifying income — and reducing fraud. We help employers understand the financial health of workers to attract and retain talent. Co-founded by Shaquille O'Neal, SteadyIQ draws upon more than 1.5 billion enriched financial transactions and $140 billion deposits from the 5 million workers who use Steady to track and boost their earnings every day.

SOURCE Steady