Portugal: SalaryFits and Banco BNI Europa launch PuzzleFits
The new solution was presented in Lisbon during the event Expo RH, on March 29th and 30th 2017
SalaryFits and Banco BNI Europa, a Portuguese digital bank, have just consolidated a partnership to introduce an innovative solution that will both improve and change the way credit is offered in Portugal: The Payroll deduction loans.
The solution, named PuzzleFits, provides the efficient integration of the credit offers from BNI to the payroll systems of entities, reducing delinquency rates and, consequently, the current interest rates offered in the market.
PuzzleFits was presented to the HR managers who participated in the 16th edition of Expo RH, held at the Estoril Congress Center, in Lisbon, on March 29th and 30th.
With the solution, Companies will be able to enhance their employee’s financial health as well as their productivity, to promote good financial habits and improve their work environment. All of that through a cost free solution for the company and with a time efficient tool for the HR to manage those benefits.
“This is an innovative digital product that will facilitate access to credit, from the request of a loan installment to the conclusion of the contract. And all of this, without the need of the employee’s presence at any time during the loan process. Everything is processed through an online platform, which makes sustainable credit a reality to employees by reducing transaction costs and business risk, and consequently, reducing the current delinquency and interest rates in the market.” Explains Eduardo Maroso, CEO of SalaryFits Portugal.
In Portugal, the deduction of loan installments through salary accounts, is the most common consumer credit modality in the market. To provide these loans, many financial institutions still struggle with high transactions/monitoring costs and the asymmetry of information. In this context, SalaryFits and Banco BNI Europa propose a solution to this problem, making the process more automated, safe and sustainable.
Check out some photos of the launch of PuzzleFits during ExpoRH in Portugal: