By Riley Kaminer
Clockout is betting big on a simple yet transformative idea: putting earned wages into the hands of workers when they need them, not just on payday. But unlike its competitors, it’s not doing it through a third-party fintech app. Instead, the Miami-based startup is bringing this capability directly to banks, setting up financial institutions to become major players in the Earned Wage Access space.
Anthony Tardugno, co-founder and COO of Clockout, knows the payday cycle is outdated for many workers.
“Right now, we are entering an era of high prices, and apart from the reality that everyone wants everything on demand, the necessity for liquidity has skyrocketed,” he told Refresh Miami.
With inflation and economic pressures making it harder for people to manage expenses between paychecks (especially in Miami), more consumers are looking for alternatives. EWA products allow workers to access a portion of their earned wages before payday, reducing the reliance on high-interest loans and overdraft fees.
Instead of marketing directly to consumers or employers, Clockout now integrates with banks and credit unions, much like Zelle did with peer-to-peer payments. “Banks are perfectly positioned to tap into this financial product and win the whole industry,” Tardugno said. “People trust their bank apps more than any other third-party provider.”
The startup has already made significant inroads. It has secured partnerships with three of the top five core banking providers in the U.S., including Q2 and Jack Henry, and is finalizing integration with Fiserv. These platforms power thousands of banks across the country, meaning Clockout’s EWA solution could soon be available to millions of account holders. Several regional banks are already in the pipeline to launch the service, with the first expected to go live within the next couple of months.
Unlike traditional EWA providers, which often require employer involvement, Clockout’s system allows consumers to access their wages directly through their bank’s digital platform. “The employer doesn’t have to do anything,” Tardugno explained. “You log into your banking app, connect your payroll system, switch direct deposit, and you can advance a portion of your earnings whenever you need it.”
Beyond convenience, Tardugno sees Clockout as a tool for financial inclusion. Many underbanked and immigrant communities have historically lacked access to financial products that could help them stabilize their cash flow. By embedding EWA into mainstream banking services, he hopes to change that. “We believe that if financial institutions bring this to the table, it’s going to be great for communities that have traditionally been left out of banking,” he said.
Regulatory uncertainty has been a concern in the EWA industry, but Tardugno is optimistic about the landscape shifting in favor of solutions like Clockout’s. He pointed to support for congress’s Earned Wage Access Protection Act, which aims to clarify the regulatory framework around these services. “Banks need black-and-white regulation,” he said. “And that’s coming soon. Once that happens, adoption is going to accelerate.”
Clockout’s approach is resonating with investors. The startup has raised $1.6 million in funding and is in the process of closing a $1.5 million seed round. It has also been backed by high-profile venture firms, including Techstars, Brickyard VC, and OneSixOne Ventures.
For now, the team is focused on expanding its footprint with banks and credit unions across the U.S. While its first deployments are set to roll out in Tennessee, Indiana, and New York, Tardugno and team continue to prioritize Florida as a key market.
“As soon as the first banks come in and roll this out, it’s going to snowball,” he said. “We saw it with Zelle. Banks are cautious at first, but once they see it works, adoption moves fast.”
READ MORE IN REFRESH MIAMI:
- Clockout aims to solve the pre-payday crunch with revamped business model
- With 10 million users in tow, Paysend’s big bet on Miami is paying off
- RecargaPay founder shares insights on building a Brazilian fintech giant, and what’s next
- MAJORITY expands migrant-focused fintech offerings, with an additional $9.75M in tow
- Koywe’s answer to slow international payments started with a lifelong friendship - September 9, 2026
- Split Pay raises $125M to give your paycheck better timing - September 9, 2026
- PRIMA raises $5M to turn hot tables into a referral business - September 4, 2026