IRIS and Revolut join forces to give thousands more Brits early salary access
The partnership has two objectives: one, to allow companies using IRIS Cascade, a leading HR system, to give their employees access to Revolut’s ‘On-Demand Pay’ product, which provides early salary access; two, to give Revolut Business customers access to IRIS’ Staffology Payroll solution for instant payroll processing.
The collaboration comes as employee preferences around the way they are paid are changing. This is driven in part by the current economic climate which continues to impact personal finances. Employees are also increasingly demanding greater control over their salaries and access to the money they have already earned as they strive for greater financial empowerment.
By partnering with Revolut, more than 1,200 companies that use IRIS Cascade can choose to give their employees use of Revolut’s ‘On Demand Pay’ tool to access part of their earned wages in advance, enabling them to stay on top of their personal finances.
The partnership also provides the opportunity to Revolut Business customers to complete payroll at the push of a button using Staffology by IRIS, the online HR and payroll software that frees up admin staff to focus on more value-adding activities that can support business growth.
David Turner, Chief Marketing Officer at IRIS Software Group comments, “Employees increasingly want access to their earned wages on demand, and most employers want to give them that flexibility. That’s why we are pleased to help our clients improve financial wellbeing through Revolut’s On-Demand Pay product.
“At the same time HR and payroll professionals want the right technology to support flexible working – HR software that provides powerful, connected insight so they can focus on people, not processes. By partnering with IRIS, Revolut can help its business customers support flexible working and put their employees in control with Staffology HR and Payroll software.”
Emil Urmanshin, Product Owner and CEO Office at Revolut, says, “Revolut’s primary mission is to provide users with one app for all things money. The purpose is to make money management easy, accessible and adaptable to our customers’ needs.
“With up to 20% of working adults in the UK having less than £100 in savings, many are extremely vulnerable to financial changes or unforeseen costs – which has been exacerbated by the pandemic. Salary advance is the logical solution in giving our customers the flexibility they need to reduce debt, manage sudden financial surprises and access money they have already earned without huge interest rates which can quickly spiral out of control.
“We are equally pleased to expand the payroll processing tools we offer to Revolut Business customers with Staffology by IRIS, which enable them to process payroll in ways that meet the changing preferences of today’s workforce.”
If you’d like to hear more about how you can roll this benefit out to your staff in less than four weeks, with no impact to your payroll processes and at no cost to your business, schedule a call with the Revolut sales team.