Sync Savings, a leading fintech innovator, and PayCaptain, the pioneering payroll provider, are excited to announce the launch of their interest-bearing payroll savings solution in partnership with Griffin. This unique collaboration is set to revolutionise the way employees save by integrating secure, high-yield savings directly into their pay cycle.

Payroll savings offers employees the convenience of automatically setting aside a portion of their earnings into an interest-bearing savings account, without the need for additional steps or paperwork. By leveraging Griffin’s trusted banking platform, employees can benefit from competitive interest rates, helping them grow their savings faster and more efficiently.

Key Features of the Program:

• Automatic Savings: PayCaptain’s payroll software enables employees to effortlessly allocate a portion of their salary to their savings account, ensuring a consistent and disciplined approach to building their financial future.

• Competitive Interest Rates: With interest paid out by Griffin, employees can enjoy growth on their savings, making it easier to achieve their financial goals.

• Seamless Integration: Sync’s technology enables savings pots to be integrated directly into Pay Captain’s app and payroll systems, providing a user-friendly experience that requires minimal effort from both employers and employees.

• Deposit Protection: Griffin is a UK authorised bank and all eligible deposits are protected by the Financial Services Compensation Scheme (up to £85,000). This alongside robust security measures gives employees peace of mind as they build their financial resilience.

"We are thrilled to partner with PayCaptain and Griffin to offer a solution that empowers employees to take control of their financial well-being," said Joss Tasker, CEO of Sync Savings. "This program aligns perfectly with our mission to help everyone build financial resilience effortlessly, through automated, rewarding, payroll savings.

Simon Bocca, CEO of PayCaptain, added, "Financial stress is a significant challenge for many employees. By offering an easy and automatic way to save, we’re not just helping employees build their savings; we’re also contributing to their overall financial health and peace of mind, ultimately creating a happier and more engaged workforce."

"At Griffin, we are committed to helping our customers launch and scale financial products that have real impact for their customers," said David Jarvis, CEO of Griffin. "This partnership with Sync Savings and PayCaptain is a great example of how our platform and status as a bank can be leveraged to support companies in enabling their people with the tools they need to build wealth and succeed financially."