Enables employers to provide seamless access to instant personal loans to their employees in one single click.
Batik, a leading Employee Benefits and Perks Platform has partnered with Fibe, India’s largest personal loan and salary advance platform with an aim to provide instant, hassle-free and seamless lending solutions. Employees will now be able to access Fibe’s personal lending finance platform through Batik’s portal and explore various options to resolve several of their financial requirements. Any employee today requiring immediate cash disbursement for their instant loans, consumer durables, education loans, medical loan, home renovations and weddings, rest assured that it will be managed with Fibe.
The addition of Fibe to Batik’s suite of employee benefits coincides with data from the PwC reports that employees looking for a new job are constantly dealing with critical cash and debt issues and less confident that their current employer cares.
1. 59% of these employees who are looking for a new job find it difficult to meet their monthly household expenses
2. 50% use credit cards to pay for monthly necessities they otherwise couldn’t afford
3. Among financially stressed employees, 49% said that the money worries had a severe or major effect on their mental health during the last year, compared to just 15% of employees who are not stressed by their finances.
4. The majority of employees (73%) whose productivity at work is majorly impacted by their financial worries also mention that their financial situation has significantly affected their self-esteem
Pramey Jain, CEO and Co-founder at Batik, comments, “Our partnership with Fibe also comes at a time when the working population needs a great fallback not just with regards to their career but with their financial stability as well. We are in an era of constant change and with so much happening around all of us, the working class today are constantly under immense pressure. Pressure to perform at work, the pressure of a career and various personal responsibilities. It is during these times that brands like Fibe can really add great value to the journey of these people. Help them through tough times. I am really looking forward to a very long association with Fibe and I believe this will be a true game changer and a stress reliever in the times to come”
Commenting on the partnership Mr. Akshay Mehrotra, Co-founder and CEO, Fibe said,“The partnership with Batik will help us extend our financial wellness services to a larger consumer base which will give employees financial stability in life. With this partnership, an employee will get easy access to instant personal loans, education loans, medical loans, which will reduce their financial stress and help them to achieve their goals .”
Batik is a perks at-work platform that helps employers engage, motivate and retain people – every day by enabling access to the choice of benefits that employees care about and appreciate. Partnering with over 40+ companies in India, we empower more than one million employees to access benefits that address their unique needs and help them achieve stress-free life. Our unified employee benefits suite provides the best of healthcare, financial, well-being, insurance, fitness benefits and discounts that support talent acquisition, retention and values-driven growth. Clients include Celebal, Raam Group, Tarrakki, HireTale and more.
To learn more about Batik, please visit: https://www.startbatik.com
Fibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfil their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal
Loans and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. The company has already disbursed nearly 2.8 million loans worth $1 billion.
1. Winner of the BFSI Leadership Award at the 5th NBFC100 Tech Summit
2. Winner of Young Indians Delhi Youth Conclave Award
3. Dream Company to Work for in Fintech by HRM Asia Pacific Congress