Saudi Arabia: Abhi and Red Sea International become partners to provide facilitation to employees
Financial
technology company Abhi has partnered with
Saudi modular building solutions provider Red
Sea International (RSI) to offer employees access to a portion of their
earned salaries before their regular payday.
Under
the partnership, RSI employees will be able to use Abhi’s Earned Wage Access
(EWA) service to access wages they have already earned in real time. The
solution is designed to give employees greater flexibility in managing cash
flow and meeting everyday financial needs.
The
collaboration combines RSI’s employee wellbeing initiatives with Abhi’s
technology-enabled financial services, allowing employees greater control over
when they access a portion of their income.
“Financial
wellbeing starts with having access to your income when you need it,” said
Omair Ansari, co-founder and CEO of Abhi. “At Abhi, we believe employees should
not have to wait for a fixed date on the calendar to access money they have
already earned.”
Mohammed
Al Amri, chief human resources officer at Red Sea International, said the
company introduced Abhi as part of its broader employee wellbeing efforts.
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“With
Abhi, employees will have greater flexibility and peace of mind when it comes
to managing finances through access to their earned salary, whenever needed,
without waiting,” Al Amri said.
The
partnership comes as Saudi employers increasingly explore technology-enabled
approaches to employee benefits and financial wellbeing as part of broader
workplace transformation aligned with the objectives of Saudi Arabia’s Vision
2030.
Earned
Wage Access allows employees to access part of their accrued wages before the
conventional payroll date. For companies with large or geographically
distributed workforces, such services can provide an additional financial
management option while complementing existing salary and employee benefit
structures.
The
agreement between Abhi and RSI also reflects the growing presence of embedded
financial technology in the Kingdom’s employment and payroll ecosystem.
Founded
in 2021, Abhi provides financial technology services including Earned Wage
Access, payroll processing, payroll financing and SME financing. The company
operates across Pakistan, the United Arab Emirates, Saudi Arabia and Oman.
Abhi
said it has expanded its regional operations through partnerships with
thousands of businesses and serves users across its markets. The company was
recognized as a World Economic Forum Technology Pioneer in 2023 and has also
received recognition from Hub71, Endeavor, the UAE Future 100 and Mastercard’s
Start Path Small Business program.
Red
Sea International, established in 1967, is a Saudi publicly listed company
specializing in modular buildings and related services. Its operations include
the design and construction of temporary and permanent modular buildings,
integrated facilities management, catering and electromechanical services.
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The
company serves sectors including oil and gas, infrastructure, government,
construction, mining, defence, offshore and manufacturing. It provides services
spanning engineering and design, camp operations and maintenance, power
generation, infrastructure works, hospitality and catering, project logistics
and turnkey project delivery.
According
to the company, RSI has completed projects in more than 65 countries.
The
partnership with Abhi adds another technology-enabled financial benefit to
RSI’s employee offering, giving eligible employees an alternative way to access
part of their earned income ahead of the standard payroll cycle.
Source: Zawya
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