Wakalu

Wakalu operates within the financial technology sector, providing a specialized solution known as Earned Salary Access (ESA). The company was established by Founder and CEO Ooi Joon Yik.

The core of Wakalu's business is a platform that allows employees of participating companies to access a portion of their accrued salary before the scheduled payday. This service is designed to offer financial flexibility to employees, particularly for managing unexpected expenses or emergencies. The business model is structured as a B2B2C service. Wakalu partners with employers, integrating its system with their existing human resources and payroll software. Once an employer signs on, their employees can register with Wakalu to withdraw their earned wages as needed. At the end of the pay cycle, the employer deducts the withdrawn amount from the employee's final salary payment.

For its corporate clients, Wakalu positions its service as a value-added employee benefit that can be implemented at no cost to the employer. The platform is designed to be interoperable with various HR systems, aiming for a quick and simple sign-up and integration process. This model targets businesses looking to enhance their employee benefits package and improve financial wellness within their workforce.

Keywords: Earned Salary Access, ESA, financial wellness, employee benefits, fintech, payroll integration, HR tech, on-demand pay, salary advance, financial flexibility, B2B2C, employee financial health, early wage access, earned income, Ooi Joon Yik, employee retention, talent acquisition, financial services, liquidity solution, workforce management