After six months of structuring to launch a differentiated impact company in the corporate wellness segment, the fintech TudoNoBolso begins its activities, offering education, credit solutions and benefits in one place for employees of partner companies. The goal is to become an extension of the HR department.
TudoNoBolso provides access to private payroll loans and other lines of credit with financial guidance to 100% of the employees of associated companies. This includes discounts at pharmacies and other establishments, partnerships with universities, among other initiatives. "More than granting a loan", we are focused on providing well-being to these professionals. We want to help you in all stages of your financial life and personal development. That's why, we will work with a living model of benefits, in which new discounts and partnerships will be frequently added to the portfolio, says Marcelo Ciccone, co-founder and general director of TudoNoBolso.
To offer the fintech products, the partner companies have no cost and the tool is easily accessible and user-friendly, still being adaptable according to customer demands. For users, everything is done directly through the app on the phone or on the website, without bureaucracy. The focus, according to Ciccone, it is the Brazilian worker. It can be the indebted one, but also those who need assistance to attend college, pay for the child's exchange program or buy an appliance
Specialized consultants in finance and credit are available to employees so they can clarify their doubts and receive guidance appropriate to their reality. Some simple adjustments in these people's accounts can prevent them from needing to resort to a loan, for example. The decision is up to them, but we can point out paths. We believe in responsible credit and hope to have a relationship with the employees of partner companies that is different from anything they have seen in the market, complements Ciccone.
The executive also talks about the relationship between money and well-being. "A complicated financial condition directly impacts the professional's self-esteem and", consequently, his performance. Having access to a tool that helps you balance your accounts is to help you regain your self-confidence.
Brazilian law allows payroll loans to compromise a maximum of 35% of the employee's salary. In the fintech, the credit limit for each user corresponds to up to seven times the value of their salary, as long as the portion stays within this percentage. The company will allow the first installment to be paid within two months, having the employee five years to pay off the entire loan, that is deducted directly from the payroll. In this model, even those with credit restrictions can benefit.
Another differential revolves around the rates, much more accessible than those of other credit modalities. The May report from the Central Bank of Brazil indicates that the average rate for a personal credit operation is 7,83% a.m., while that of a private payroll loan is 3,23% a.m. The discrepancy is even greater when compared to the average rates of the Revolving Credit Card, of 35,21% a.m., and from the overdraft, of 10,7% to.m
The same report states that there are R$ 293 million in personal credit portfolio, while the private loan has just over R$ 40,5 million. "The Brazilian worker loses the opportunity to exchange more expensive debts for those with lower rates and", thus, cheaper to find a financial and emotional balance. The numbers show that there is still a lot of room for growth in this market, comment Ciccone
With funding from the PJM fund, the fintech invested heavily in technology to assist in this process. In the first stage, TudoNoBolso targets medium and large companies throughout Brazil. The differential, for them, it is the integration that the newcomer in the market will offer: HR will be able to manage and have a complete view of their employee through the platform. "We want to offer alternatives so that people can achieve financial health and focus on what really matters: work", family, friends… We want to join efforts with HR, offering companies the best benefits so that they have the best employees, finishes.
