Ramssol Fintech partners CTOS for 'Pay Day Now' platform referrals

KUALA LUMPUR: Ramssol Group Bhd's wholly-owned subsidiary Rams Fintech Sdn Bhd has entered into a referral and distribution agreement with CTOS Data Systems Sdn Bhd for its “Pay Day Now” Earned Wage Access (EWA) programme.

The group said in a bourse filing the parties have inked a memorandum of agreement, in which CTOS Data System will introduce, refer and promote the platform and the EWA programme to employers and clients within its network.

Meanwhile, the RAMS FINTECH platform will onboard and service the referred employers and pay a commission to CTOS Data Systems. 

Additionally, the parties will also explore complementary strategic and data collaboration opportunities for their mutual benefit.

"The collaboration is in line with RAMS FINTECH's strategy to expand the distribution and

adoption of its EWA offering by leveraging CTOS Data Systems' network and market presence,

thereby broadening the reach of the platform to a wider base of employers and employees," said Ramssol.

By distributing the EWA programme, the collaboration is expected to support employees in managing short-term cash flow needs through structured and responsible access to their earned income, while enabling employers to modernise their payroll processes and enhance employee benefits.