Fintech TudoNoBolso reaches the market with a focus on the well-being of the Brazilian worker

After six months of structuring to launch an impactful and differentiated company in the corporate wellness segment, fintech TudoNoBolso begins its activities, offering education, credit solutions and benefits in one place to employees of the affiliated companies. 

TudoNoBolso provides access to private payroll loans and other lines of credit with financial guidance to 100% of employees of associated companies. This in addition to discounts in pharmacies and other establishments, partnerships with universities, among other initiatives. “More than granting loans, we are focused on providing well-being to these professionals. We want to help them at all stages of their financial life and their personal development. Therefore, we will work with a living model of benefits, in which new discounts and partnerships will often be added to the” portfolio, says Marcelo Ciccone, founder and director-general of Everything NoBolso. 

To offer fintech products, partner companies have no cost and the tool is easy to access and use, and can also be adapted according to customer demands. For users, everything is done directly by the application on the mobile phone or on the site, without bureaucracy. The focus, according to Ciccone, is the Brazilian worker. It may be the indebted, but also the one who needs help to make a college, pay for the child's exchange or buy an appliance.

Consultants specialized in finance and credit are available to employees so that they can ask their questions and receive guidance appropriate to their reality.“Some simple adjustments in the accounts of these people can prevent them from needing to resort to a loan, for example. The decision is up to them, but we can point out ways. We believe in responsible credit and hope to have a relationship with the employees of partner companies unlike anything they have seen in the” market, adds Ciccone. 

The executive still talks about the relationship between money and well-being. “A complicated financial condition directly impacts the professional's self-esteem and, consequently, his income.Having access to a tool that helps him balance his accounts is to help him rescue his self-confidence”. 

Brazilian law allows payroll loans to commit a maximum of 35% of the employee's salary. In fintech, the credit limit of each user corresponds to up to seven times the value of their pro-labore, provided that the portion is within this percentage. The company will allow the first installment to be paid in up to two months, with the employee five years to repay the entire loan, which is debited directly on the payroll. In this model, even those who have credit restriction can benefit. 

Another differential revolves around the rates, much more affordable than those of other credit modalities. The May report of the Central Bank of Brazil points out that the average rate of a personal credit operation is 7.83% a.m., while that of a private payroll loan operation is 3.23% a.m. The discrepancy is even greater in view of the average rates of the Revolving Credit Card, 35.21% a.m., and the overdraft, 10.7% a.m.

The same report reports having R$ 293 million personal credit portfolio, while the private payroll has just over R$ 40.5 million.“The Brazilian worker loses the opportunity to exchange more expensive debts for those with lower rates and thus cheaper to find a financial and emotional balance. The numbers show that there is much room still for growth in this market”, comments Ciccone.

With the contribution of the PJM fund, fintech has invested heavily in technology to help in this process. In the first stage, TudoNoBolso targets medium and large companies throughout Brazil. The differential, for them, is the integration that the newcomer in the market will offer: HR can manage and have a complete view of its employee by the platform. “We want to offer alternatives so that people can have financial health and can focus on what really matters: work, family, friends. We want to add efforts to HR, offering companies the best benefits so that they have the best EMPLOYEES, concludes”.