Why Lynkwise: For Institutions
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Benefits for Institutions
Lynkwise eliminates the cost and effort of developing and maintaining multiple interfaces with different employer payrolls by providing a single standard interface through one secure point of contact.
Reduction of non-performing loans
Based on a comprehensive central database, Lynkwise is able to pre-validate deduction instructions and provide instant feedback on inputs that the payroll would reject. This dramatically improves the rate of collections and reduces the instances of non-performing loans.
Reduced Risk
The one-time-PIN system used to validate employees and their payslips reduces the risk of identity theft and the resulting potential financial loss.
Direct Integration
Secure and user-friendly online ability to manage all deductions with the option to integrate directly with the Lynkwise API.
Cost and Risk Management
Institutions are effectively able to replace uncertain, often significant, and potentially crippling bad debt losses with a small, predictable collection fee.
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