IRIS partners with Level to offer earned wage access, amid growing demand for on-demand Pay

IRIS Software Group (IRIS), leading global provider of accountancy, education, HR, and payroll software and services, today announces its new strategic partnership with Level Financial Technology (Level), integrating Earned Wage Access capabilities into its flagship HCM cloud solutions, IRIS Cascade and Staffology By IRIS. The partnership will offer employees the opportunity to access their earned pay any time before payday as demand for the benefit surges – with IRIS’ latest research finding that 46% of the UK workforce are eager to scrap the monthly payday in favour of accessing wages on demand.

Earned Wage Access, or On-Demand Pay, enables employees to withdraw a portion of their already-earned wages before their scheduled payday. IRIS’ new research also found that two-thirds of UK employees would take advantage of the benefit more than once a month, and almost half (48%) considers an employer offering Earned Wage Access more attractive than one that does not. The combination of Level’s leading technology with IRIS’ scale is expected to have a significant impact on the market – IRIS’ solutions are used to pay 1 in 6 UK workers, and are used by 29 of the top 30 UK accountancy firms.

The partnership has been driven by a uniquely collaborative relationship between IRIS’ and Level’s development teams to create a seamless user-experience for payroll professionals working behind-the-scenes to deliver On-Demand Pay for employees. The advanced integration automates the service, enabling businesses to offer the additional benefits to employees with minimal work and reduced disruption to existing workflows.

Stephanie Coward, Managing Director for HCM at IRIS, said: “Our latest partnership with Level is a significant step forwards in our mission to equip UK businesses with cutting-edge solutions. Level’s wealth of expertise combined with a uniquely collaborative approach between our teams means thousands of employers using Cascade or Staffology can address a real need across their workforce and provide benefits that genuinely matter, strengthening trust and engagement across the board. We’re proud to be at the forefront of this evolution in workplace benefits, and continuing to support both our clients and their teams.”

Findings from IRIS’ research also show that most (58%) of UK employees agree their employer should offer more financial wellbeing advice and support should they offer Earned Wage Access – Level’s integration with IRIS’ solutions will also deliver cutting-edge AI-powered financial coaching as standard, as well as payroll savings and open banking budgeting tools, to provide businesses with the tools and resources necessary to support staff and their financial wellbeing.

Stephen Holliday, Founder and Chief Executive Officer at Level, said: “Our partnership with IRIS marks a significant milestone in our mission to help all UK workers borrow less and save more. The next-generation integrations with both IRIS Cascade and IRIS Staffology, combined with a free-to-employer model, makes the Level – IRIS offering the best On-Demand Pay product in the UK market.”

Currently, 15% of all UK employers already offer Earned Wage Access, including a number of NHS trusts and most supermarkets. Level’s solutions currently support large-scale employers such as Capita plc and Home Instead.

To learn more about how IRIS can support your payroll needs, see our solutions here.

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