SalaryFits presents its employee benefits platform, powered by salary deductions, success case for India
SalaryFits, through its digital platform, offers financial benefits to Indian market and will show case this innovative concept during an entrepreneur summit in Delhi
New Delhi, January 2018 – For the last two years in the Indian market, SalaryFits, a fintech focused on financial health and sustainability, is one of the companies invited to present its salary deduction concept to an international delegation during the Startse Mission in India, being conducted between 19th – 25th of January in the country.
On an economic path of a huge social gap and a highly unbanked and underbanked market, where most of the people have no fair affordability to financial institutions and its products, but also in some way on a wave for financial inclusion, conducive to innovation, entrepreneurship and economic growth, the country is the third largest start-up market in the world, behind only UK and USA, which shows itself as an ideal environment for SalaryFits platform’s concept.
SalaryFits is a spin-off company that brings the Brazilian success case of employee benefits through salary deductions. “In 2015 we had a first interaction with Indian market and in the last two years we have started with a deeper market analysis, with significant efforts going forward on some partnerships and developing our Indian footprint. Right now, we are ready to validate some pilots and grow in this special and huge market. Our offering of providing benefits to individuals, empowering their financial health, through salary deductions is not a common format in the country yet, and this is the beauty of our digital platform that we are promoting financial inclusion with the potential scale-up model in India” says Renato Araujo, SalaryFits Chairman and Founder.
SalaryFits’ value proposition is wide, providing a range of benefits to employees of private and public entities. All types of service providers, such as banks, insurance companies, health care providers, among others; as long as they are integrated to the entities payroll system, will be able to deduct the amount directly from employee’s salary through SalaryFits platform.
The concept has been well accepted by Indian market, which also believes it can considerably improve the economy by providing credit in a more sustainable, fairer and faster way, thus, empowering its citizens.
“Currently, a personal loan offered in India can range from 15% up to 21% in interest rate, considering all other fees involved in it, as well. We believe, also with our experience in different markets, these numbers will considerably decrease with SalaryFits platform security and efficiency”, guarantees the Chairman.
With headquarters in Evora (Portugal), SalaryFits presents the successful salary deductions concept to international markets such as Mexico, United Kingdom, Spain, Portugal, Italy, and India. The Company has the ISO 27001 Standard – Information Security Management Certification. In India, SalaryFits was nominated as one of the Fintech Startups of the Year, 2017.