New Platform Offers Employees Flexibility on Pay Advances

This could be another part of an employment package that builds loyalty, here’s the word;

Award winning insurer Aioi Nissay Dowa Europe (AND-E) is empowering its employees to build the best possible financial health, with the adoption of the Wagestream financial wellbeing platform. The charity backed tool gives AND-E’s colleagues Earned Wage Access to retrieve a proportion of what they have already earned in advance of pay-day, easing cashflow problems.

“Employers can’t influence inflation or control the cost-of-living crisis. However we do believe we have a role to play in helping our colleagues in these difficult financial times”, explained Gemma Robinson, People and Culture Director, Aioi Nissay Dowa Europe. “By utilising this on-demand pay app, our employees can access a proportion of their salary if they need to deal with cashflow demands, helping them stay in control of their finances and alleviate stress.”

Wagestream gives AND-E employees access to up to 50% of pay they have already earned, all month. Employees can also view their banking transactions via secure Open Banking alongside their earnings. Plus, 24/7 access to a certified financial coach for every employee delivers personalised just-in-time coaching.

People at all stages of their career are being affected by the cost-of-living crisis, as latest data shows 12.8 million adults in the UK are falling behind on bills. By providing more flexible payment technology, as well as access to financial coaching, AND-E hopes to alleviate the stress this causes in an unobtrusive, supportive and confidential way.