Wagestream partners with Zellis to accelerate a world of fairer finance for all
Wagestream’s mission is a world of fairer financial services for every worker, and we’re delighted to announce we’re one step closer because we’ve partnered with Zellis, provider of award-winning payroll and HR solutions.
Every employee in the world deserves a fair chance of financial wellbeing, and power over their own pay – to track, plan, access and save their pay at a cadence that works for them. As part of the partnership, Zellis will offer the growing Wagestream suite of tools to its clients.
Zellis clients that choose Wagestream will give their employees complete visibility over their monthly expected earnings and insight into their projected financial position at different times of the month. The Safestream feature allows employees to save amounts that they are genuinely able to save, building a stable foundation for future financial health.
Employees can also access their pay on any day in the month using the platform’s flagship Earned Wage Access (EWA) feature. This is not a loan or an advance, but is part of their earned pay so far that month – they can typically access up to 40% of their earned pay for a small transaction fee of £1.75, regardless of the amount. 77% of Wagestream users feel less stressed as a result of having access to this service.
The integration between Wagestream and Zellis is seamless. Any time an employee streams their earned wages using Wagestream, this information is communicated to Zellis HCM Cloud’s payroll solution, which enables a deduction to be made from the employee’s pay. This means there is no impact on the normal payroll process or company cash flow.
The partnership comes at a critical time for UK employees: the global coronavirus pandemic is putting unprecedented strain on personal resources. Pre-pandemic, more than three quarters (78%) of employees said money worries affected them at work, with significant knock-on effects to productivity and absenteeism. This figure has likely spiked in the last year.
Peter Briffett, Wagestream CEO, said:
“Zellis is at the forefront of enabling next-generation HCM software and we’re delighted to be able to offer their clients Earned Wage Access to give all their employees power over pay. The impact that positive financial health has on society is immense and when we help people improve their financial wellbeing, we empower them to improve their lives for the better.”
Iain Collinson, Director, Partner Management at Zellis, said:
“Having just launched Zellis HCM Cloud to huge excitement, we’re following up with an innovative partnership that helps us deliver on our goal of enhancing the way employees work, and delivering the experiences they want. We look forward to enabling Wagestream for our valued customers via the new Zellis Marketplace.”
Our partners are those who share the mission to give every worker power over their pay!
We partner exclusively with best in class organisations in workforce management, banking, payroll services and employee benefits.