Sync Savings

What is Sync All About? 🔀 Sync Savings is an embedded savings infrastructure aimed at helping people to save more. We provide a savings plug-in which integrates seamlessly into payroll systems, making it super easy for everyone to save automatically straight out of their salary. What are embedded savings? What are payroll savings? ➡ Embedded savings are savings accounts completely integrated into non-banking apps. ➡ Payroll saving is an employee savings scheme, where a pre-planned amount is automatically transferred from net pay to a savings account via payroll software. How can we help? ➡ Our simple savings plug-in is easy to integrate and takes away the hassle of having to figure out operational, technical and compliance requirements. ➡ Payroll providers that offer savings have a unique opportunity to differentiate themselves and offer an impactful, high quality benefit. ➡ According to some exciting research by Havard and our friends at Wagestream, those with positive financial wellbeing can increase their IQ by 13 points. 🤝Along with the help of our partners PayCaptain and Griffin, our innovative embedded savings infrastructure enables deposit takers to reduce liquidity costs whilst empowering individuals to achieve their financial goals. #embeddedsavings #payrollsavings

❗🤲 There is a HIGH Demand for Payroll Saving Schemes 🤲❗ A report by Neyber shows that 55% of employees say financial concerns are their biggest source of stress, which negatively impacts their mental health, well-being, and productivity at work. 💆♀️ Payroll savings solutions not only improve financial well-being but also contribute significantly to employee satisfaction, retention, and overall engagement. 🔄 72% of employees say they would be more loyal to an employer who offers financial well-being benefits. 💶 Financial well-being programs can see as much as a 15% increase in productivity and a 19% reduction in absenteeism. 👩💻

🚫 💶 UK Savings Crisis 💶 🚫 👨👩👦👦 Income volatility affects 34% of UK households and of those workers with volatile incomes, 46% of those struggle to meet monthly expenses. 📉 46% of UK adults did not have enough savings to cover an unexpected £500 expense. 💰 Combining the power of behavioural nudges with our Savings Plugin, employees sign up to payroll savings and instantly begin to effortlessly build financial resilience. 🔄 Payroll savings provide users with an effortless and automated way to save. 💫 Building regular savings habits increases users' confidence when managing money. Having a small savings buffer is proven to reduce stress and improve well-being. 💫 #payrollsavings #financialresilience

💸 "Adding a employee new benefit or service will inevitably add extra cost...." 💰 🔄 Did you know that #payrollsavings are easy to integrate and free via Sync? And what's *even* better is that by working with Sync employees will get a market beating rate of interest too 📈 Whether folks are saving for a rainy day ☔ , a sunny day 🏖️ or a snow day ❄️ 🎅 - we believe that there is no better way to boost financial wellness and in turn, overall employee wellbeing 🛀 ✨ 👉 handy check list from Reward & Employee Benefits Association (REBA) ✨ https://lnkd.in/ezn5gQ4v

💭 Anna Ryan is our Marketing Assistant here at Sync Savings 💭 She is studying Marketing in her final year at Nottingham Trent University. Anna began working for Sync during the summer, posting regular LinkedIn content and even redesigning our company website. 👩💻 ‘I value the creative liberties I am granted at Sync as it allows me to take risks and grow. I am super proud to be a part of a great team who want to do equally great things.’ 🎨 ‘Marketing is a field that has always fascinated me for its perfect blend of creativity, strategy, and human psychology.’ 🧠 Anna loves the cinema and has watched over 200 films just this year! 🎬

🔄 How do Payroll Savings Work? 🔄 🔌 We connect banks to savers by integrating savings accounts into the apps people already use. 🏦 Your employer deducts the amount you wish to save directly from wages via payroll. This pre-planned amount is automatically transferred from net pay to a savings account via payroll software. 📈 This automated system helps users to develop a savings habit and is proven to improve long-term saving rates by up to 40% #embeddedsavings #payrollsavings

🧙♂️ Sam Rogers, our Technical Co-founder at Sync Savings! 🧙♂️ Sam is an API engineer with 15 years of experience in finance and technology. His background as a full-stack developer and system architect has given him a deep appreciation for elegant, scalable solutions. 🧑💻 'I’m passionate about solving complex problems and love mentoring teams to unlock their potential.' 🔐 Whether knee-deep in code or brainstorming the next big feature, Sam believes in keeping things collaborative, approachable, and—above all—effective. 🚀

🗽☕ Starbucks hold $1.8bn in deposits ☕ 🗽 Save Now, Buy Later is here - trusted brands across all sectors can now strengthen their proposition with financial services and should be seen as product distribution partners ☕ 🤝 🔄 👛 And any brand looking to integrate interest bearing cash savings or any bank after sticky retail deposits - needs Sync Savings ✨ https://lnkd.in/ejdRUzz8.

📰 🇺🇸Savings Market Stateside - Learnings from Emergency Saving Accounts 🇺🇸📰 🏦 Employee Benefits Security Administration has released guidance to implement pension-linked emergency savings accounts (PLESAs), a key component of the SECURE 2.0 Act of 2022. 🔄 Employers can automatically enrol workers for an emergency savings account, facilitated via #payroll contributions, and match contributions up to a $2,500 cap. Employees can withdraw funds penalty-free for emergencies. 📉 “These savings accounts will enhance retirement security by reducing retirement plan leakage and, at the same time, offering additional flexibility to workers,” 🚀 The initiative has been hugely successful and a game changer for retirement security in the USA, reducing reliance on expensive retirement plan withdrawals. At Sync we're on a mission to encourage savings culture with a view to helping folks enhance long-term financial security. #payrollsavings #embeddedsavings

🚀 Alex Fox is our COO and Co-founder here at Sync 🚀 'We’re here to make millions of people become better savers, in every corner of the world and from every demographic!' 👨👨👧👦 Alex grew up on a farm in South Yorkshire without electricity…. ' I was 16 before we were "plugged in,"'. 🔌 Fast forward a few years and he found himself diving into world of cutting edge tech, starting with a startup in Colombia and after a short-lived career as a structural engineer in Glasgow and Qatar. 📈 Before Sync, Alex led Ops and Product at Monzo Business Banking and headed up Operations at Octopus Electric Vehicles. 🧑💻 'Simplicity and Justice are my 2 core values and I’ve spent most of my career applying those to scaling operations in customer-centric fintechs. ✨