How it works • Lynkwise

Overview: How it works

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TThroughout the world institutions such as banks, lenders, insurers and trade unions frequently collect their monthly instalments, premiums and membership fees directly from an employee’s payroll. This is done to provide employees with wider access to financial and other services, including short and long-term insurance policies as well as affordable financing.

Lynkwise offers a Payroll Deduction Management Platform (PDMP) that acts as the secure centralised interface between these financial institutions and the employer.

Implements affordability controls
Promotes responsible lending
Offers world-class security
Delivers dedicated support

Protects employees from exploitation
Encourages inclusivity of financial products
Provides access to a centralised online portal
Improves control in personal spending

Employer

The employer securely syncs selected payroll information with the Lynkwise system through our online portal

Employee

The employee applies for a financial product at a pre-approved and registered Financial institution

Institution

The Institution uses the secure one time pin to assess if the product is affordable without being able to see detailed salary information

Employer

The employer will pay over the amount that was deducted by them to the financial institution, settling the employee's obligation

Employer

On payrun date the employer Syncs the Lynkwise system with their payroll, which loads the deductions onto the employees payslip

Affordability

If affordable the institution Loads the product onto the system