Ibiden, head of compliance details how SAVii reduced HR headaches and employee’s stress with salary loan service partnership at SEIPI’s May General Membership meeting..
SAVii, the salary finance provider was honored to be a part of their Q2 General Membership meeting on May 24 to speak to SEIPI members about Financial Wellness in the Semiconductor Workplace.
SAVii’s representative at the event, Ivan Matic, who has worked for 5 years in financial inclusion, discussed that employees who require emergency financial assistance frequently turn to ATM pawning and other informal lenders.
Ibiden, one of SAVii’s partner clients, joined Matic to discuss their experience with including SAVii as part of their employee benefits. “Previously, we had a typical sort of lender to our employees, which was incredibly stressful for both the employees and HR. On the employee’s side, since the provider has a traditional business model, they needed to have a co-guarantor before they could take out a loan.” And, on the HR side, we were in charge of the administrative loan documentation, which was a headache,” explains Atty. Racquel Ros, Ibiden’s Executive Officer for Administration and Head of Compliance. She also stated that the previous supplier also chased HR who had served as co-guarantors for employee loans.
Bringing SAVii on board relieves the HR team’s workload while also addressing Ibiden employees’ financial concerns. “In 2019, when Ivan approached us, he gave a solution through Uploan, which is now SAVii.” It removed the employee’s stress and eliminated the need for a co-guarantor. “It’s a straightforward commercial transaction between our employees and SAVii, and HR has nothing to do with it, so the risk is zero. The process is streamlined. “ she added, explaining that the SAVii solution does not have any cost to the company.
“We explained how we could help them overcome these difficulties by providing them with our salary finance services, which are secure and hassle-free. I’m happy to say that the partnership has been successful over these past 3 years.” said Matic.
SAVii is a salary finance platform that provides employees with convenient and affordable financial solutions. SAVii has worked with HR leaders across industries to implement safe and reliable salary financing to avoid toxic debt cycles and financial stress in the workplace. This in turn improves worker wellbeing and improves employee engagement.
Watch this video to hear all of what Atty. Ros has to say about the partnership with SAVii and learn how SAVii can help you establish financial power in your organization.
About IBIDEN Philippines
IBIDEN PHILIPPINES, INC. is a wholly owned subsidiary of IBIDEN JAPAN CO., LTD., a manufacturer of plastic substrates and multi-layer printed circuit boards.
Ibiden Philippines Inc. collaborates with some of the world’s most prestigious and valuable smartphone, laptop, and desktop manufacturers.
About SEIPI
The Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) is the Philippines’ largest organization of foreign and local electronics firms. SEIPI seeks to create the Philippines an internationally competitive business environment for semiconductor and electronics technology through its vision and dedication. Visit their website for more information https://www.seipi.org.ph/homepage/.
About SAVii
SAVii is the category leader in salary linked financial services. Our 100+ corporate employer partners get data insight that can help manage attrition and unlock engaged, productive employees. We support over 400,000 employees with safe, convenient, and affordable loans, advances, and mental health support. Connect with us on Twitter @SaviiPH or find out more at https://savii.io/ph.