Gary Pearcy on “Why I Came to DailyPay”

 

When people find out that I left Wells Fargo, where I was a 14-year veteran, to work at a four-year-old startup as VP of Payment Operations, their first question is usually “Why?” It’s a question I’m only too happy to answer.

 

First of all, it’s not like I just woke up one day and said, “I’m done.” Throughout my career, not just the past 14 years at Wells Fargo but also during the 9 years at GE and the 12 years in the Army, I had a passion for being involved. For me it is never just about the job. I like to be involved in helping the company put its best foot forward and being an ambassador or a representative of the company, and feeling good about what my company represents. At Wells Fargo, I was able to balance my day job with additional leadership roles, including leading Diversity and Inclusion programs and advocating for the hiring of veterans.

 

Unfortunately the account-opening scandal that rocked Wells Fargo in recent years really had a significant impact on the climate and culture there. Just like other large firms before them, Wells Fargo went from a highly-regarded stature to an undesirable one almost overnight, and that was almost three years ago. But every company experiences adversity at some point during their history and this wasn’t my sole reason for leaving.

 

The opportunity to interview with DailyPay came from a friend, a fellow West Point classmate. A DailyPay recruiter contacted him to interview for the VP of Payment Operations role, and although he was interested in it for himself, he felt that I had the experience DailyPay really wanted. He laid the groundwork for me, I got the job over him, and, yes, we’re still friends!

 

When I looked into DailyPay to understand what it was all about, I was immediately convinced that it was a service that filled a much-needed gap in the financial services space. It’s a product that real people, those who live paycheck to paycheck, really need. The option for an employee to access earned pay, rather than apply for credit or look for help from family or friends, empowers that employee. It promotes financial wellness because it gives the employee control over financial decisions rather than being controlled. And the price point on this — it costs less than an ATM fee to access your money in real-time — makes it an unbelievable service that gives workers peace of mind. It’s certainly a need in the financial services industry.

 

So for me, it all came down to the fact that this job was the right fit at the right time with the right challenge and a benefit that people really need. It’s simple, with a transparent fee that’s only charged when you actually need to transfer funds. 

 

The challenge is to make sure that we have the right tools and processes in place to ensure our product works as advertised 100% of the time. Payment operations need to work right every time an employee needs access his/her funds. Working at DailyPay allows me to utilize my experience, my skills and all of the tools I’ve learned over the past 30 years in the corporate world to help DailyPay meet its fulfillment obligations.