Azucko app allowing employees access to a portion of salary before payday

With approval from the Central Bank of Ireland, Prima Finance has announced the launch of a new personal finance app, allowing Irish residents to access an interest-free portion of their salary each month before payday. The Azucko offering will be launched in the UK later this year.

Developed in partnership with financial software solution experts, Aryza, the Azucko app automatically outlines the employee’s earned income based on the number of hours already worked, allowing workers to draw down a percentage of income that has already been earned but has yet to be paid.

As well as this unique feature, offering users greater control and financial freedom, the Azucko app is a fully integrated solution, connecting all of a user’s bank accounts in one place. Additional capabilities include tracking spending habits, paying and identifying monthly savings on utility bills, tracking financial-credit scores, and allowing users to set up and manage saving plans.

Users of the app can also generate a comprehensive car valuation and history reports and also assess one’s ability to repay/qualify for a personal or car loan or mortgage.

To access this service, employers can enroll easily, with no sign up costs or disruption to existing payroll processes.

Speaking about the partnership, Karen Emmett, head of consumer product at Aryza, said: “Harnessing our existing Aryza Debtsense solution, we worked closely with the Prima Finance team to develop a bespoke app that would enable employers to support their staff to better manage and understand their finances. By integrating employer’s payroll or time in attendance systems, workers can track their earnings and review how much they can draw down at any stage during the month.

“Azucko gives users greater monetary independence, while helping to eliminate the need for high-cost credit cards, personal loans, overdraft fees or pay day loans should employees find themselves in a financial tight-spot or confronted with unexpected expenses ahead of their next payday. Now that the app has launched across Ireland, we hope this solution will provide business leaders with a new means of supporting and taking care of their employees.”

Azucko managing director, Brian Leslie, added: “Azucko allows employers to support their employees to better manage and understand their finances. Uniquely, it allows employees to draw down a portion of their income they have already earned but have not yet been paid by their employer.

“Working with Aryza helped us deliver a powerful and functionally rich tool that exactly met with our requirements.”