KarmaLife partners with Repute to provide access to affordable financial services to the Indian workforce
KarmaLife, a real-time financial solutions provider to the Gig workforce announces a partnership with Repute; Repute is enabling dissimilar ecosystems to connect and collaborate with each other powered by its decentralised Blockchain network. Be it businesses, individuals, or service providers – the network enables secure data sharing and transactions for all
The partnership will enable KarmaLife to bring affordable financial services to the low-income workforce through connecting with HRMSs which will be aided by Repute. Repute expands its offering by including KarmaLife services on its platform. With this collaboration, KarmaLife aims to provide access to earning-linked affordable credit to employees who might need the same at the time of an emergency or due to a shortfall in income.
Commenting on the partnership, Mr. Rohit Rathi, Co-founder & CEO, KarmaLife said, “We believe access to financial freedom is one of the most important values an organization can add to the lives of their employees. The challenge however is to make sure that financial services are available to those who need them the most. By partnering with Repute, we wish to extend our solutions to the maximum number of salaried/waged employees.” Rohit added,” KarmaLife as a platform has enabled applications like Deduction at Source ( DaS) in India to simplify loan repayments, EMIs, insurance premiums, and savings directly from worker payouts which will surely help not only employees but HR teams as well to attain financial wellness of employees.”
Deepak Dhar, Co-founder & CEO, Repute said “We are excited to partner with KarmaLife to help millions of salaried/waged employees have access to financial wellness. This connectivity of KarmaLife with HR/Payroll systems makes possible a quick and simple sharing of credentials by employees. It also enables the customization of offerings according to the profile by KarmaLife. KarmaLife has been striving to make the entire experience frictionless and personalized for employees and we are happy to be able to contribute.”
About KarmaLife
KarmaLife serves Gig workers with subscription-based finance built on Digital Karma. It offers them digitally integrated real-time credit to better manage their day-to-day cash flows and become more financially resilient. It partners with employers and aggregators to provide Earned Wage Access and dynamic Line of Credit solutions to their workers based on their work history and other digital data.
By partnering with KarmaLife, employers can provide inclusive, impactful, and easy-to-administer worker benefits that boost productivity and retention without any financial liability. Existing partners have seen up to 30% improvements in worker productivity and reduced churn after using the solution.
About Repute
Repute is a Bangalore-based technology company that is working to build a market network where multiple stakeholders can join – including but not limited to Organisations, Software platforms, Service providers, and individuals. The decentralized network allows the network participants to transact, share data and build their own reputation at scale. Blockchain as the basis of the network ensures that data security and privacy are held to the highest standards.
