Wagely Bangladesh Ltd. (“wagely”), Bangladesh’s first and largest financial wellness platform, has signed a partnership with Impress Newtex Composite Textile Ltd. (“INCTL”), the RMG concern of Impress Group, one of the leading conglomerates of the country. This partnership will integrate wagely’s financial wellness platform into the benefits program of INCTL, allowing over 12,000 workers to easily access a portion of their salaries anytime in as quickly as a few seconds — a perk that comes in handy for the employer and worker.
During the signing, Nafis Ud Doula shared “For us at INCTL, providing overall employee wellness is strong company commitment – from health, education and training, diversity, and now financial wellness. We are excited to partner with the industry leader for financial well-being in Bangladesh. Since the early launch days, we have already witnessed the tremendous benefits of partnering with wagely, resulting in lower migration, higher engagement, and productivity.
“The struggle to cover unexpected expenses between paychecks and the sudden increase in living costs has put many workers in a dire financial situation. As a result, businesses are impacted by worker migration and lower productivity” said Tobias Fischer. “We are honored to partner with industry leaders such as Impress Newtex, renowned for their values towards corporate social responsibility, sustainability, and compliance.”
Within a short period of time after its launch in October 2021, wagely successfully partnered with more than 35 RMG and non-RMG factories across Bangladesh and recently inaugurated its second office in Chittagong as a step forward to expand across the country with a firm foundation.
Granted the Inclusive Fintech 50 2022 Award, wagely further gained the trust and confidence of renowned industry stakeholders and teamed up with BGMEA, BKash, USAID, and UNCDF to expand its financial wellness services across more workers and employees to ensure their financial inclusion and independence.