Following this collaboration, the companies will be able to provide their unbanked employees complete digital bank accounts using the FlexxPay application.
Together with the Abu Dhabi Commercial Bank, FlexxPay will also provide their clients with a variety of employee benefits and payroll solutions. This will include the ability to access earned wages on demand, or the possibility to use FlexxPay’s Shariah-compliant tech platform to access a share of their earned income, when they need it, no matter where they are at the specific moment.
The companies aim to remove the pricy payroll cards from customers that do not have a bank account, as well as reduce the time-consuming methods needed to process their salaries. This change will benefit the companies because of the transition from unbanked to banked employees, which offers the employer access both to the FlexxPay products, and also to the full suite of the Abu Dhabi Commercial Bank payroll services.
According to the FlexxPay’s CEO, this collaboration will give their customer the opportunity to reduce the multiple salary processing methods to only one, using the FlexxPay application. Furthermore, the companies can choose to sign-up to the cloud-based payroll solution provided by FlexxPay, without additional fees. Once having an account in the company’s workforce, the user is informed about the new features, such as employee benefits or financial services.
FlexxPay’s strategy and partnerships
Social impact technology company FlexxPay offers digital payments solutions for employers. It focuses on providing a variety of fintech solutions for corporations and customers, enabling digital transformation and change in the workplace, while improving sales, staff retention, and motivation, as well as productivity.
The company announced its partnership with AppSealing in June 2022. Following this collaboration, FlexxPay will use the services provided by AppSealing to improve the security of its mobile application.
This announcement was made a couple of months after FlexxPay’s expansion in Egypt. Through this partnership, the payment solutions company aimed to use its technology to drive financial inclusion and overall improve employee satisfaction in the new geographic area.
ADCB’s launches and partnerships
The Abu Dhabi Commercial Bank is an institution that offers its customers secure banking solutions that are secure. One of its component members, ADCB Egypt, announced the extend of the collaboration with Temenos in May 2022. This will offer digital payments services for composable banking to their customers on the Temenos platform. As for the provided services, these included new payment offerings, such as instant and cross-border payments for retail and business customers. With the Temenos platform, the bank had the possibility to process payments instantly from any channel, all in real-time, local or international.
One of the products that were launched by ADCB was the custom metal or credit cards. The bank used a laser beam to engrave cardholders’ signatures onto the surface of their metal cards. Furthermore, the customers have multiple benefits while using it, such as cinema tickets, gym memberships, coffee vouchers, airport lounges, and touchpoints.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now