Australia: Wisr launches PFM app to combat financial stress

Fintech company, Wisr, is partnering with an online financial literacy hub, Your Wealth Hub, to expand its distribution strategy as well as provide financial wellness programs in reducing the financial stress employees experience.

Wisr has launched a personal financial management tool – ‘Wisr @ Work’, to help businesses provide help for staff with access to Wisr’s debt consolidation services. According to Karen Taylor – Head of Partnerships at Wisr – “many employees are unable to perform property at work due to financial stress, such as inability to meet savings goals or failing to pay bills on time”.

‘Wisr @ Work’ equips employees with online tools that allow employees to better understand their financial position and creditworthiness using customisable debt reduction smartphone apps, that automatically pay-down credit card and loan debt and financial education programs.

According to RFi Group data, of those who have used a personal financial management tool, almost 1 in 3 users indicated that notifications for due payments or a low balance are a feature they would find most valuable in an app designed to help manage personal finances. The launch of Wisr @ Work aims to close this gap among PFM users while simultaneously educating users and increasing financial wellness among employees.

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