Paywatch, a global financial wellness platform, and Coronis Health, a leading healthcare BPO provider, have just announced a groundbreaking partnership this holiday season. This collaboration introduces an innovative Earned Wage Access (EWA) solution, prioritizing financial stability and well-being for its employees.
Photo shows (from left), Jarica Funtano, BD & CSM Manager of Paywatch Philippines; Mariel Kintanar, Director of Business Development & Partnerships of Paywatch Philippines; Marvin Jason Rodriguez, Country Director, HR and Corporate Services of Coronis Health Philippines; Jenell San Antonio, Head of Marketing of Paywatch Philippines; Marlon Dela Cruz, Total Rewards Specialist of Coronis Health Philippines; and Mary Jane Elumbaring, Total Rewards Supervisor of Coronis Health Philippines.
Based on details of the partnership agreement, the initiative would allow Coronis Health employees to access a portion of their earned wages anytime, thus eliminating reliance on high-interest loans or credit advances during emergencies or periods of increased spending.
This program positions Coronis Health as a leader in employee-centric practices, demonstrating its dedication to a healthy and secure workforce.
Paywatch offering financial stability for a stress-free holiday season
Marvin Jason Rodriguez, Country Director, HR and Corporate Services of Coronis Health Philippines, emphasizes the company’s dedication to supporting the employees’ financial wellness
“At Coronis Health, we understand the financial challenges many employees face, especially during the holidays,” said Marvin Jason Rodriguez, Country Director, HR and Corporate Services of Coronis Health Philippines.
“Our partnership with Paywatch is a testament to our dedication to supporting our team’s financial wellness and reducing stress. This allows them to focus on what truly matters – celebrating the holidays with loved ones,” Rodriguez added.
This partnership marks a significant step forward for the healthcare BPO industry. Financial stability is increasingly recognized as crucial for employee well-being and productivity.
By launching the program during the holidays, Coronis Health provides a timely solution for managing seasonal expenses, fostering peace of mind and financial confidence.
EWA: Innovation for employee financial wellness
Mariel Kintanar, Director of Business Development and Partnerships of Paywatch Philippines, explains how the Earned Wage Access (EWA) solution can offer employees foster overall wellness and financial stability
The EWA solution revolutionizes the way Coronis Health employees manage their finances. They can now access their earned wages instantly, eliminating the need to wait for traditional pay cycles.
This flexibility empowers them to handle emergencies or festive spending responsibly, thus minimizing reliance on high-interest loans and other detrimental short-term financial solutions.
“We are proud to collaborate with Coronis Health, a company that shares our mission of advancing financial inclusion and fostering financial wellness,” said Rowell del Fierro, President of Paywatch Philippines.
“Together, we’re addressing a critical need by providing employees with access to their earned wages when they need it most, particularly during the holidays,” he further stated.
No need to wait until payday
Citing the results of a Bangko Sentral ng Pilipinas (BSP) survey conducted in 2021, Paywatch noted that almost half of Filipinos had an outstanding loan, with family, friends, and informal lenders as top sources.
Rowell del Fierro, President of Paywatch Philippines
According to Del Fierro, employees can receive their salary through Paywatch at any time and from any location, thus eliminating the need for cash advance requests and the associated high-interest fees.
Employees who use EWA are also able to access a portion of their paychecks before the conclusion of their payroll cycle. This helps reduce the need for them (employees) to apply for short-term loans just to be able to get by in an emergency or even pay for their daily needs.
Del Fierro says employers also stand to benefit from Paywatch’s services since the availability of EWA can help address problems with employee productivity and retention.
This is considering that the employee turnover rate in Southeast Asia is 67 per cent, which could have an impact on the region’s business environment.
Shared vision for a resilient workforce
The partnership fosters a shared vision of creating a financially inclusive and resilient workforce. Beyond immediate relief, Coronis Health and Paywatch collaborate to educate employees on long-term financial management strategies, promoting sustainable well-being.
“We believe that happy, stress-free employees are the foundation of a successful organization,” added Marvin. “This initiative aligns with our values of care, inclusiveness, and empowerment, especially during the season of giving.”
As the partnership unfolds, Coronis Health employees can look forward to a brighter and more secure holiday season. The EWA solution extends beyond the festive period, serving as a vital resource for managing financial demands throughout the year.
This commitment solidifies Coronis Health’s position as an employer of choice in the competitive healthcare BPO industry.
About Paywatch
Founded by brothers Richard and Alex Kim, Paywatch is Asia’s leading Earned Wage Access (EWA) service provider, committed to fostering holistic financial wellness for employees.
By partnering with leading enterprises and top banks across Asia, the company enables employees to secure brighter financial futures through safe and flexible financial access.
Its mission is to empower people to live better lives. Currently, Paywatch operates in Malaysia, South Korea, the Philippines, and Indonesia, with support from Citi, UOB, Hana Bank, and Hong Leong Bank. Paywatch began operating in the Philippines in collaboration with the agribusiness company Wilmar International. It also signed an arrangement with real estate developer Shang Properties.
For more information about Paywatch, please visit https://www.paywatchglobal.com/