In the recent tumultuous economic times, there has been excessive strain being placed on payroll that creates the following issues:

Kaelo Money solves these issues through its various product lines and administrative efficiencies that are created through its implementation, as seen below:

Through the introduction of Kaelo Money:

The employer would act as an agent of deduction for Kaelo Money. Within the business, the employer would have a financial administrator with added functionality on the platform.

From an administration perspective, all they would do is log in to the Kaelo Money platform:

The financial administrator will be able to see all employees that are registered as well as their individual statements if required.

You would simply click “Statement” and view the full automated statement as shown below:

On this page, click export and an Excel file will be generated with all the required information as below

On the Excel sheet, you will see the employees’ details, the deduction amounts and associated fees, the amount to be deducted from payroll as well as the total amount to be paid to Kaelo Money at the end of the month. There is no calculation required, all amounts are calculated by the system and are live. It is one statement, irrespective of whether employees utilised the Emergency “credit” Wallet, the Earned Wage Access platform or the Kaelo Money marketplace.

The amounts that employees can access are in line with the parameters set by the employer. These include the maximum term of the loan, the % of salary that you would like your employees to access.

Through Kaelo Money, the administrative and emotional burden will be removed, employees will be able to access ethical, responsible and affordable funds and will be driven to financial education that will lead to their financial wellness.