{"id":67746,"date":"2024-04-17T13:59:25","date_gmt":"2024-04-17T05:59:25","guid":{"rendered":"https:\/\/news.outsourceaccelerator.com\/?p=67746"},"modified":"2024-04-17T14:31:28","modified_gmt":"2024-04-17T06:31:28","slug":"ewa-bpo-it-financial","status":"publish","type":"post","link":"https:\/\/news.outsourceaccelerator.com\/ewa-bpo-it-financial\/","title":{"rendered":"EWA provider targets BPO, IT firms to ease financial stress"},"content":{"rendered":"
MANILA, PHILIPPINES \u2014 <\/span>Paywatch Philippines<\/span><\/a> has urged the private sector to adopt earned wage access (EWA) services. These services would provide employees access to earned wages before payday, reducing <\/span>financial stress<\/span><\/a> and reliance on loans.<\/span><\/p>\n The company has reported engaging in discussions with several prominent <\/span>business process outsourcing (BPO) and information technology (IT)<\/span><\/a> companies in the Philippines.<\/span><\/p>\n “We have so many negotiations with BPO and IT companies,” Paywatch Philippines president Rowell del Fierro said in a briefing on Tuesday.<\/span><\/p>\n In an exclusive interview with Outsource Accelerator, del Fierro refused to name the said companies: “I just can’t obviously divulge, but definitely if you list, Google [the top 10]… and SSCs or what we call shared services centers.”<\/span><\/p>\n Paywatch leverages AI technology in its operations, streamlining employee data management and <\/span>payroll<\/span><\/a> integration.\u00a0<\/span><\/p>\n “We’re able to attract a lot of investors. We’re not directly impacted by <\/span>AI displacement<\/span><\/a>. In fact, we already use AI on the back-end to process employee files,” del Fierro explained.<\/span><\/p>\n Del Fierro emphasized that now is the time for employers to integrate EWA as a standard employee benefit in the midst of high inflation. He also noted that it can be a powerful tool to attract and retain staff.<\/span><\/p>\n Data from Paywatch revealed that 66% of users felt less financial stress and increased retention by 78%.<\/span><\/p>\n “I hope that the private sector takes an active step in introducing EWA-debt free in their companies… It’s not just financial literacy that\u2019s important but also financial wellness tools.”<\/span><\/p>\n With over 70% active users accessing wages up to four times monthly, Paywatch aims to onboard 100,000 employees this year.<\/span><\/p>\n Targeting firms with over 1,000 employees initially, Paywatch has partnered with Shang Properties, Wilmar International, Rustan’s, and Dunkin’ Donuts.\u00a0<\/span><\/p>\n Founded in 2018<\/span><\/a>, Paywatch also provides EWA services to <\/span>Malaysia<\/span><\/a>, <\/span>South Korea<\/span><\/a>, <\/span>Hong Kong<\/span><\/a>, and <\/span>Indonesia<\/span><\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" MANILA, PHILIPPINES \u2014 Paywatch Philippines has urged the private sector to adopt earned wage access (EWA) services. These services would […]<\/p>\n","protected":false},"author":18,"featured_media":67747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[203],"tags":[],"yoast_head":"\nAI-powered solution for workforce management<\/span><\/h2>\n
Strategic growth and impact of Paywatch<\/span><\/h2>\n