We have been listed in the 25 of the most disruptive FinTech Firms by Freshminds.
Thank you Freshminds for including Doreming in your list!
The employer-focused fintech
Consumer to business payment fintech is increasingly well established. But some fintech firms are looking to facilitate business to employee payment services.
Doreming, for instance, focuses on financial inclusion for workers, an emerging theme for fintech firms, with the World Bank estimating that 2.5 billion adults worldwide are excluded from traditional banking services. Furthermore, research from Doreming has found that millions are forced into taking loans at high rates from unofficial sources (such as loan sharks). In order to address this, Doreming have created a payroll system that gives workers access to their daily incomes through a linked virtual account. This system lowers the risk of default because payments are made pro rata, rather than a monthly or weekly salary. For employers, their system automatically updates the payroll processing to calculate the accrued salary of workers with taxes, insurance costs and other statutory expenses deducted.