Bayport Money Solutions

It is help, not hype.


Salary advancement requests? Resignations so that employees can access their pension funds?

These are sure-fire signs that your employees are in financial trouble. By the time distress translates into these behaviours, company performance is already suffering from decreased productivity, a rise in absenteeism, increased safety incidents and low levels of employee engagement.

Bayport Money Solutions is a programme that offers employees a way out of financial distress and into financial wellness.

Want to speak to us directly?

Contact Us

The reality

Financial wellness in the workplace

Bayport Wellness Offering

It is HELP, not hype.

Bayport offers a five-step plan for your employees

Bayport Wellness Offering

Employer benefits

The strategic benefits of a financial wellness programme

Bayport Wellness Offering

A financial wellness programme customised to meet your company’s needs:

  • Financial wellness training and support
  • Dedicated financial coaches
  • Group training solutions

Wellness days

  • Awareness
  • Financial health assessments

Periodic employee financial status reports

  • Average bureau score distribution
  • Type of debt per employee
  • % of employees with judgements
  • Debt over income ratio per employee
  • Employees' savings rate

The strategic benefits of a financial wellness programme

  • More realistic wage increase demands from employees
  • Reduced risk of strike action
  • Reduced levels of absenteeism and improved health (people with high levels of debt are more prone to sickness)
  • Increased productivity
  • Increase employee satisfaction and engagement
  • Improved employer brand (employer of choice)
  • More affordable retirement options enable career advancement opportunities for younger employees

Chat to us about Financial wellness

Download our Financial Wellness brochure!

Our case studies

Case study 1: Motor industry employer

A significant portion of the employees Bayport Money Solution helped, were in the high to very high-risk bracket. They would not normally qualify for loan products at reputable credit providers. Driven to mashonisas, their financial woes would only have multiplied.

55% of employees credit scores improved following Bayport money Solutions' interventions.

Employees in arrears:

Pre bayport:
  • 35% of employees had arrears of 5% or less of their total loan balance.
  • 19% had no arrears.
Post bayport:
  • 85% of employees have arrears of 5% or less of their total loan balance.
  • 55% have 0 arrears.

Since January 2019, Bayport disbursed almost R8 million in preferentially rated loans, assisting almost 160 employees. Employees saved R2,1 million in repayments due to the reduced rate.


Case study 2: Mining industry employer

The number of employees with a credit record increased over the programme duration, indicating that more employees are dealing with registered and legal lenders, and fewer with informal lenders.

Thanks to the effort of coaches, former over-indebted employees' credit scores and debt-to-income ratios have improved significantly.

The number of employees with judgements has reduced by over 40% over the last two years, significantly more than the mining industry or South Africa as a whole.

The number of employees with defaults has decreased by 9% over the last two years.

Portion of net income used to pay off debtBetween 0 and 40%Between 40 and 80%Between 80 and 100%More than 100%
Jun 201641% of employees23% of employees5% of employees12% of employees
Jun 201853% of employees27% of employees3% of employees3% of employees

TESTIMONIALS

Bayport Wellness Testimonials - John

Jacques: branch manager

Financial Status: over-indebted

"When I was demoted due to a company restructuring, my salary was cut by 35%. Soon I was R300 000 in debt and my children could no longer go to school because we were behind on school fees. Bayport removed my debts that had been prescribed, negotiated settlement discounts and granted me a consolidation loan. I use Bayport’s budget tool and the monthly conversations with my money coach to keep on top of my finances. My credit record is clean, I can function at work, and I am finally in control of my life again!"


Bayport Wellness Testimonials - Sandile

Mary-Anne: human capital manager

Financial Status: distressed

"I had more than R400 000 debt and was behind on all my loans and accounts. Bayport negotiated 30% settlement discounts on my behalf, gave me a loan to pay off my four largest debts, unlocked R4 000 in monthly cash flow, and taught me how to manage my finances. My life is changed! My credit score is improving, I will retire debt free, and I’m no longer scared to answer my phone."


Bayport Wellness Testimonials - John N

Mandla: factory worker

Financial Status: in good standing

"When my house got damaged in the Umlazi floods, I had R94 000 in debts, but my credit score was good because I never missed a payment. Bayport consolidated my debts and negotiated settlement discounts of more than R49 000. They also gave me a R25 000 loan at a discounted interest rate to fix my house. My house is fixed and I have more cash every month because of lower instalments."


Bayport Wellness Testimonials - Samuel

Philip: production team leader

Financial Status: over-indebted

"I was in big trouble. I couldn’t pay maintenance for my two children, I lived on expensive payday loans and the bank wanted to take my car back. Bayport consolidated all my loans and negotiated with my creditors. Now my instalment is R6 000 a month instead of R11 000. I manage my debt and I have some money in my pocket. Most importantly, I can now be a father to my kids."

FAQs about Bayport Money Solutions

How can I be sure that Bayport’s main focus will not be on selling loans to my employees as soon as you are on site?
How do employees join the Bayport Money Solutions programme?
How do employees exit the Bayport Money Solutions programme?
How do you ensure privacy and confidentiality?
Why is Bayport willing to engage even with extremely high risk employees?
What are the benefits/value adds of the Bayport Money Solutions programme?

Contact us about our wellness solution

All participating employees have access to:

  • Insurance and tax advice and solutions
  • Will and estate planning
  • The My Money loyalty benefits (vouchers that can be redeemed at selected retailers and discounts at selected retail partners).
[contact-form-7 404 "Not Found"]

For more information, or to book an appointment with the Bayport Money Solutions team, contact us below

  • loans
  • online-loan
  • personal-loans
  • loan-provider
  • loan-provider

Bayport is an authorised financial services provider and registered credit provider. Bayport offers personal loans through our innovative online loan platform. You can get a loan decision within a minute of application and find out whether you qualify for a personal loan or not. You can also retrieve your loan statements online. To apply for a loan online, we need your last 3 months bank statements and it must be stamped by your bank. We also require your most recent payslip, a clear copy of your ID document and a Proof of residence (not more than three months old). We have a handy budget calculator that you can use to analyse your income and expenses before you apply. To apply for a personal loan, click here.

Bayport Financial Services 2010 (Pty) Ltd | Reg no: 2009/018403/07 | VAT no: 4100255837 | Authorized Financial Service Provider: License No. 42380 | Registered Credit Provider: NCRCP 4685

Member of the Direct Marketing Association

Terms & Conditions | Legal and Compliance | Site Map