Fintech Awards 2022 34 Wealth & Finance International - 2022 FinTech Awards APR2w2 Headquartered in the UK, but operating out of Nigeria, the team at Lastmile Financials have focused their business on the challenge of Earned Wage Access and personal finance management services for employees in Africa. For workers in Nigeria and Sub-Saharan Africa, this revolution in the field of financial services has transformed the way in which they live, offering access to a portion of their earned wage before payday. This incredible success has been achieved thanks to the development of PayMasta, the financial hub around which the business is structured. The team work with employers and partner organisations to help support the financial wellness of their employees. The app does more than allow employees access to a portion of their earned salary any time before payday with a zero interest charge – it takes a holistic approach to the matter of the financial sector, helping them to track and monitor expenses, pay bills, create savings, and ultimately set them on track to financial freedom. Employees have looked for ways in which they can implement systems like this for years, but have often come to face insurmountable bottlenecks in the system. The Secured and Reliable processes, along with a dedicated team of customer liaison partners, have proven to be invaluable to making this seemingly impossible dream come true. The costs of implementing this system to employers is less than negligible, offering zero cost whilst helping to boost an employee’s productivity, engagement and loyalty. This system is such an important asset to many that it has been essential to ensure that the platform is one which is positive in every way. The continued success of PayMasta has been a major factor in its growth and development over the years. Whilst primarily operating out of Nigeria, PayMasta has found fertile ground across the Sub-Saharan region of Africa. The focus for the next few years is on scaling the business to serve even more users. By the end of 2022, PayMasta will reach out to 200,000 users, working alongside 1500 employer partners. The team are also looking The way in which we access our salaries is incredibly antiquated, not suited to the various challenges facing individuals in the modern world. Using the latest technology, the Lastmile Financials Ltd team have developed PayMasta to provide a premier service that puts flexibility at the forefront. In Wealth and Finance International’s FinTech Awards, the team achieved incredible success. We dig a little deeper to uncover precisely how they managed it. at extending into other countries across Africa and indeed the global south, helping to solve the problem of financial inclusion and access to pay for hundreds of millions of employees. The aim with PayMasta was always to help people solve the problem of dealing with the unexpected. School fees, medical bills, rent and groceries can have a major impact if you do not have the resources, so this added flexibility brings clients a much-needed element of freedom to those who need it most. When we think of salaries, there’s no reason to consider it purely in terms of monthly income. Your salary is earned day by day, and Best Earned Wage Access Provider 2022 May22365 the methods by which we are paid should reflect this demand. We celebrate the success of the PayMasta and Lastmile Financials team and look forward to seeing where this astonishing innovation takes them in the future. Company: Lastmile Financials Ltd Name: Gerald Erih Email: [email protected] Web Address: