financial wellbeing for your employees, from a partner you ... · of day-to-day finances …have a...

Financial wellbeing for your employees, from a partner you can trust.

#1 in Forbes list of socially-responsible British start-ups

2

www.salaryfinance.com

Contents

The financial needs of employees are changing 1

Employers are responding2

Our credentials provide an unparalleled level of comfort for employers 4

THE FINANCIAL WELLBEING

CONTEXT

SalaryFinance supports financial wellbeing through a simple solution3WHAT WE DO

WHY YOU CAN TRUST US

Why employers choose us5

1

The financial needs of employees are changing

4


What do we mean by financial wellbeing

…are in control of day-to-day

finances

…have a buffer for unplanned

spend

…are moving towards financial

goals

An employee if financially healthy if they…

5


UK employees are stressed about their finances

Source: Money Advice Service

17 million work-age Brits have <£100 in

savings Source: The Money Charity, Money Statistics, Sept 2016

Up 50% since 2013, to £3,600

per UK adult

Source: TUC

Down 10% in real terms in 10

years

INCOME SAVINGS DEBT

DOWN DOWN UP

Source: Institute for Fiscal Studies

Millennials have 50% the wealth of Gen X at the

same age

WEALTH

DOWN

6


Millions of employees are moments away from financial difficulties

71% of people experience at least one major unexpected cost a year

Types of unexpected costs experienced in last 12 months

Source: Money Advice Service

TAKEAWAY 1

TAKEAWAY 2

Millions of employees rely on debt just to get by

7


Our analysis of 200,000 credit files shows that debt is expensive for the majority of UK employees

75% of

employees

do not have a

good credit score

Credit score distribution

33.5%

24.8%

17.2%

11.6%

7.7%

5%

0% 10% 20% 30% 40%

10%

20%

30%-100%

101%-200%

201%-501%

>500%

% of Population

Interest Rate (APR) distribution

67% of

employees

Pay an interest rate of

>20%

23% of

employees


>100%

5% of

employees


>500%

Data Sample: 200,000 UK borrowers between the age of 18-59 who have taken a personal loan, credit card or payday loan since 2013 and paid more than 8% APR.

2

Employers are responding

9


Benefits have focused on employees’ assets, not their liabilities

Insurance

Savings

Pension

Personal loans

Credit cards

Payday loans

ASSETS

LIABILITIES

10


But debt is one of the primary worries of the workforce today

50% of employees

Worry about their finances

33% of employees

Say debt worries impact their work

20%of employees

Lose sleep worrying about

their debts

11


And worrying about finances puts mental health at risk

Poor financial health Poor mental health

Source: The Money and Mental Health Policy Institute, Money on your mind

72%said mental health

problems made financial situation

worse

86%said financial

situation made their mental health worse

People with debt problems are twice as likely to develop major depression

3

SalaryFinance supports employees’ financial wellbeing through a simple

solution

13


We help employees become debt-free and move onto the path to savings

We lend between

£1,000 - £25,000

over 6 – 36 months

Consolidate high-cost debt

Repayments are deducted

directly from payroll

Stop worrying about repayments

We save employees £500+

on average and help them

improve their credit score

Save money & build credit score

1 2 3

EMPLOYEE PROPOSITION

14


We deliver transformative impact for employers, all at no risk or cost

The employer is never liable

to repay any employee loan

Zero cost & zero liability

Our product delivers a

5-10% effective pay-rise

Transform employees’ lives

Our clients’ employees

absolutely love our service

Build loyalty & boost productivity

1 2 3

EMPLOYER PROPOSITION

15


Our product, eligibility and pricing are the most inclusive in the market

Loan size

From £1,000 to £25,000

Loan length

From 6 to 36 months

Product

Age

18+

Salary

£9,000+ household income

Tenure

1 year+

Eligibility

Option 1

7.9% for all approved loans

Option 2

From 3.9%, with a price

promise

Pricing

1 3

16


BudgetingOnline tool via a partner which links to employees bank accounts, providing visibility on spending, and helping to set / manage budgets.

Money Dashboard | Available now

We are building a comprehensive suite of products

Credit ReportThrough our sister company, employees can access their credit report for free, forever. This includes education on credit scores.

ClearScore | Available now

EducationTogether with the Money Advice Service, we provide content / education to employees on budgeting, saving and managing debt.

Learn| Available now

SavingsWe are working on a product which will allow employees to save a percentage of their income directly from their pay each month.

SalarySaver | Coming in 2017

17


Financial education portal with the Money Advice Service

4

Our credentials provide an unparalleled level of comfort for employers

19


We have a wide range of reputable clients across sectors

Panalpina[Logistics]

Agilisys[Gov’t Services]

Addaction[Charity]

Bath ASU[Manufacturing]

Click here for reference video Click here for reference video

Dunelm[FTSE Retailer]

Hays[FTSE Recruiter]

Saga[FTSE Finance]

Ageas[Insurance]

Anchor[Housing Association]

Hackney Council[Public Sector]

Northern Gas Network[Utilities]

https://vimeo.com/185722863

https://vimeo.com/170499706

20


We have universally positive press coverage

SalaryFinance first in list of socially responsible British start-ups

SalaryFinance included as one of the twenty most innovative digital companies in the UK

SalaryFinance singled out as a valuable employee benefit by columnist Mrs Moneypenny

SalaryFinance included in KPMG’s leading 100 FinTech firms globally

SalaryFinance featured by the IoD as a “FinTech firm with social purpose”

21


We are highly-regarded by people with deep sector expertise

Sir Danny Alexander

Former Treasury Chief Secretary

“SalaryFinance is a great example of a FinTech

company with a social purpose, which has the

potential to make millions of our citizens better

off.”

Victoria Raffe

Former FCA Executive Director

"…I'm really delighted to be involved with the

SalaryFinance proposition that is clearly a

fantastic service for employers and their

employees.”

5

Why employers choose us

23


3 easy steps to launch

1 hour set up &

15 mins / month to manage

Payroll

1 hour to review our simple

services agreement

Legal

We tailor our collateral for

each client launch

Communications

1 2 3

24


Feel free to reach out

[email protected]

financial wellbeing for your employees, from a partner you ... · of day-to-day finances …have a...

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