In Ireland, an app that allows employees to access a portion of their money before payday goes live

A new personal finance app has been created that allows employees to access an interest-free portion of their monthly earnings before payday.

Flexible Financing Service

Employees can use the Azucko app to have more flexibility based on the hours they have previously worked. Employers must, however, sign up for the pay drawdown service.

But the loan service on a No Inspection site helps if employees are short on cash or face an unexpected bill before their next payday, according to Mirek Saunders.

Azucko works by linking with payroll or time-and-attendance systems at businesses, allowing employees to see how much they have earned and how much they can withdraw each month.

Helping to ease financial stress

“We are increasingly concerned about our physical and mental financial wellbeing,” Azucko managing director Brian Leslie said, “but financial stress is also common and has a serious impact on 62 percent of all employees today.”

“With Azucko, employers can help their employees better manage and understand their money.” It is unique in that it allows employees to withdraw a percentage of their earnings that they have already earned but have yet to be paid by their employer.

“This gives employees more control and flexibility over when and how they are paid, as well as how they manage their money and deal with unforeseen expenses.”

“From an employer’s perspective, when employees feel more secure in their financial situation, they are more likely to be productive and motivated, which benefits everyone.”

Employers must sign up their employees for the access service, but it is “simple” to do so with no registration fees and no disruption to usual payroll operations.

Predicting Financial Situations

The software is also intended to assist users in gaining a better understanding of their future financial situation, including income and expenses. Connecting all bank accounts within the app, tracking spending habits, paying monthly bills, initiating a savings plan, finding monthly utility bill savings, and tracking financial scores are all part of this.

Users can also determine their borrowing capacity for a personal or auto loan, as well as a mortgage.

“It is more important than ever that people have complete access to their financial data so that they can take control of their finances,” Mr. Leslie added.