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    More Efficient Salary Payments: Accace EWA and Payout Solutions Case Study

    •5 min. read
    More Efficient Salary Payments: Accace EWA and Payout Solutions Case Study

    Accace, TULIP, and InvAce are bringing progressive EWA technology to Slovakia for the first time. They support companies that want to educate their employees and raise benefits to a higher level. The solution also works with our financial institution Payout, which specializes in payment automation. This case study shows the successful implementation of the integration of the Payout API and the Banklink platform to facilitate faster, safer, and fully automated payroll payments for employees through the Accace EWA platform.

    Client Introduction:

    Accace EWA (Earned Wage Access) is dedicated to providing efficient and risk-free processes for its clients. To maintain its competitive advantage, it is constantly looking for innovative technologies to improve the client experience and optimize its internal operations.

    Partnership and solution:

    As part of a strategic move to offer enhanced payroll services, Accace EWA partnered with Payout. Leveraging Payout's cutting-edge API integration and Banklink platform, Accace EWA focused on accelerating their payroll process, improving efficiency, and ensuring a secure payment environment for their clients.

    Implementation process:

    Thanks to the user-friendly design of Payout's solution [documentation], the implementation and transition process was smooth and required almost no changes to the existing process, ensuring seamless integration.

    Benefits achieved:

    The collaboration with Payout has brought Accace EWA a number of benefits:

    • Process automation: Thanks to Payout, the payroll process has become fully automated, reducing the workload for the Accace EWA team. Time-consuming tasks have been simplified, allowing the team to focus on more strategic responsibilities.
    • Increased security: The automated payment system is equipped with high-quality security measures to protect sensitive data and transactions. The solution also offers the option of backup for late submissions, mitigating the potential risks associated with late payments.

    Looking ahead:

    The successful implementation of the solution has paved the way for further collaboration between Accace EWA and Payout. Both parties are excited to explore other innovative technologies to increase efficiency and improve their services. We highlight the alignment of values between the two companies, with an emphasis on their shared commitment to simplifying complex processes. Automated payroll not only saved a lot of time, but also improved the overall customer experience.

    • Expanded range of services: By adopting the Payout solution, Accace EWA was able to offer its clients an expanded range of services, ensuring seamless and secure payments within and beyond payroll services.

    Conclusion:

    Thanks to its collaboration with Payout, Accace EWA is able to bring many innovations to payroll processing. The automated solution not only saves time, but also ensures a secure and seamless payment experience for their clients. By leveraging Payout's advanced technologies, Accace EWA can successfully deliver on its commitment to provide top-notch payroll services in a rapidly evolving business environment.

    CLIENT BUSINESS MODEL

    EWA, which stands for Earned Wage Access, is a new financial technology that allows employees to access part of their finances before their regular wages are paid. It is an alternative to traditional loans and commitments, designed to help employees meet their financial needs and urgent expenses if they find themselves in short-term financial distress before their scheduled payday.

    How it works:

    1. A company that can use EWA technology must be integrated with a payroll system.
    2. Employees have access to a mobile app or online platform where they can track their hours worked, invoices submitted, or expenses.
    3. Based on this data, the technology calculates the amount of money available that the employee can withdraw from their earned wages before their scheduled payday.
    4. This amount is usually limited to a certain percentage of the salary to prevent excessive withdrawals and ensure that employees do not run out of funds.
    5. The withdrawal is made via the Payout - Banklink API, automatically and in real time. This means that the employee has the funds credited to their account on the day they submit the request.

    The benefits of EWA (Earned Wage Access) include quick access to necessary funds, minimising the need to rely on high-interest loans, and low or no withdrawal fees.

    Martina Hanusová

    Article Author

    Martina Hanusová

    Chief Sales Officer

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