Ernesto Boada, former Senior Vice President and Interim Chief Information Officer at Workday and former Chief Technology Officer at Western Union, joins workplace savings startup Sunny Day Fund as its Co-Founder & Chief Technology Officer.
“After working in the technology sector for over 25 years with major companies like Workday, Visa, Intuit, and Western Union, I’m dedicating the remainder of my career to fostering the financial well-being of workers who lack access to essential financial products that would empower them to fulfill their needs and achieve their dreams. And I see those dreams coming true with Sunny Day Fund.”
Pailla welcomes Boada to Sunny Day Fund’s Founding Team
Sid Pailla, CEO & Founder of Sunny Day Fund, is thrilled to partner with Boada. “We’ve been fortunate to have Ernesto as an active member of our Board of Advisors for the last two years, and we couldn’t be more thrilled to supercharge our product, technology, and delivery under his leadership.”
The pair’s connection came about in an economic climate of uncertainty that disproportionately impacted lower income workers.
A recent survey found 37% of Americans tapped their retirement savings early driven by little to no emergency savings and growing debt. And 57% would struggle to come up with $1,000 to address an immediate need. Hardworking Americans don’t want to sacrifice their financial futures and their employers want a proven path to improve their workforce’s financial well-being.
Boada knew about the problem but learned about its immense scope when he started mentoring Pailla and Sunny Day Fund via Techstars. Bonded by their common experience with early financial struggles, Boada and Pailla recognized the opportunity to create a brighter, wealthier future for all.
Soon after, Boada joined Sunny Day Fund’s Board of Advisors as he saw proof in the payroll-deducted savings approach to financial resilience. Boada said, “Recent events have shown us how life can change without much notice. Savings can help us overcome those uncertain situations, and Sunny Day Fund has an incredible solution to automate those savings.”
Over the next two years, Sunny Day Fund kept adding more and larger organizations. Leading investors like TMV, TruStage, Virginia’s VIPC, and others continued to support Pailla’s vision. And throughout, Pailla leaned on Boada for advice on scaling people, process, and technology – the trifecta framework both shared from their time at Accenture.
Reflecting on past, powering a new financial future
The constant flow of celebrations and challenges at Sunny Day Fund – while working on something personal and meaningful – made Boada reflect on his own journey as a Hispanic immigrant:
“Living the American dream, I managed to fund my graduate studies, purchase a home, raise two children, and provide them with exceptional education and healthcare. A disciplined approach to savings, fostered by my parents, made all this feasible. Now, I feel a responsibility to pay it forward and collaborate with the gifted team at Sunny Day Fund, as we work together to enable financial stability and freedom for all. This is the right place for me and for my calling.”
Find original Press Release here.
About Sunny Day Fund
Hardworking Americans are asking for help to build savings because too many can’t handle a $400 emergency, and 37% of those with retirement savings took out costly loans or early withdrawals last year. Sunny Day Fund solves this problem by automating and incentivizing savings directly from the paycheck. It’s the best-in-class workplace emergency savings platform that people-first employers are rolling out to drive retention, lower 401(k) loans and withdrawals, and improve financial well-being. Sunny Day Fund is an NMSDC Certified MBE based in Falls Church, VA. For more information, reach out to firstname.lastname@example.org and follow us on LinkedIn.