Leading consumer lending and financial wellness platform – EarlySalary announces partnership with Ramco Systems, a global payroll software provider, as a part of the employee financial wellness program. This alliance will enable Ramco’s large client base to leverage various financial wellness benefits such as Earned Wage Access, Salary Advances and personal loans through an easy-to-use platform.
Ramco Systems is an enterprise software player in the area of Global Payroll, HR, ERP, Logistics, and M&E MRO for Aviation. With an intent to foster employee growth and experience, Ramco and EarlySalary will jointly extend the financial wellness benefits to Ramco’s client employee base.
The partnership would reportedly help the employees as they will be provided with facilities like earn wage access. Earn wage access is a financial product that enables employees to access portion of their earned salary at any time before their payday, with the remainder being paid at the end of the pay period without disrupting the payroll. Employees as well as employers from the traditional pay cycle, giving employees access to earned salary available in real-time. Furthermore, the tie-up will benefit a very large segment of working professionals who don’t have access to innovative credit solutions and wage access products. This can help build affordability and financial access to a larger population. In addition, the employees also have the benefit of availing a Personal Loan from EarlySalary of up to Rs. 5 lakhs in just a few minutes.
On the occasion Akshay Mehrotra, CEO and Co-Founder, EarlySalary said, “The partnership will help us extend our financial wellness services to a larger customer base, as Ramco provides a wide base through their global payroll platform for corporates. With this partnership, we continue to bolster our aim of becoming the go-to financial services provider for every credit need of working professionals.”
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Rohit Mathur, Head – Ramco Global Payroll Solutions, Ramco Systems, said, “We are excited to offer EarlySalary’s financial wellness capabilities together with Ramco’s Global Payroll solution to our customers and their employees. With organizations striving to excel in people practices, financial wellness programs and the flexibility to access employees’ earned wage are becoming the pandemic’s hottest perks. This partnership is a leap towards not just delivering digital transformation but also helping organizations digitally enable their employees for higher employee productivity and retention rates.”
