E-current account provider Unizest has launched in the UK with support from Mastercard, Railsbank, Association of Labour Providers (ALP), and several international recruiters. Unizest’s is aiming to go beyond the traditional fintech solutions and help solve the long term problem facing UK recruitment agencies when arranging payment for overseas workers.
In a simple and secure five-step onboarding process, Unizest allows workers and students coming to the UK to open an e-current account before they leave their home country. Upon arrival in the UK, customers receive their Debit Mastercard.
Restrictions as a result of the pandemic, coupled with the implications of Brexit, have left the UK facing a significant shortage of staff across many sectors – including healthcare, hospitality and agriculture. These industries play a vital role in the recovery of the UK’s economy, and yet recruiters are having to work even harder to attract overseas workers to fill thousands of vacancies.
Unizest recognises that one of the causes of friction for people who newly arrive in the UK for work and study is the simple need to open a bank account. The team’s mission is to support recruiters – Unizest is already working with recruitment agencies such as Response Recruitment, Australasian Recruitment Company and Tri Consulting – and in turn, candidates, with this important stage in the transition to life and work in the UK.
“On a daily basis, we have overseas workers walking off the street into our office looking for employment,” says John Devine, managing director at Response Recruitment. “Many can’t open a traditional UK bank account but obviously need to set up a basic banking service. We can now offer Unizest’s new e-current account. It’s a win-win for recruiters, their clients and candidates.”
Matt Oldham, co-founder of Neofin Ventures – the company behind Unizest’s launch – comments; “Our aim with Unizest is to ensure that all newcomers to the UK, whether that be for work or for study, are given the best start when embarking on their new life here. We want to help smooth the transition by removing one of the biggest hurdles they face – setting up basic banking services.”
After going through a rigorous approval process, Unizest has become an approved service partner of the Association of Labour Providers (ALP). Instigated by the UK government, the association promotes responsible recruitment and shares Unizest’s values of integrity and putting people first.
“We are pleased to welcome Unizest as an ALP service partner and look forward to their e-current account helping to promote good practice,” says David Camp, chief executive of the Association of Labour Providers.