Crédit Agricole Group has acquired Worklife, a French fintech firm engaged in the digitalisation of employee benefits, for an undisclosed price.
Through the acquisition, the French banking group aims to bolster its current range of services related to employee savings, retirement plans, and group health insurance to offer an extensive vision of employee benefits.
Besides, Crédit Agricole expects that the synergy and complementarity with Worklife will enable it to better serve enterprises in promoting and managing their remuneration policy.
Crédit Agricole new activities director Laurent Darmon said: “With the acquisition of Worklife, we want to create a French champion of employee benefits by offering a digital platform dedicated to the benefits and remuneration policy in a harmonised HR approach that will rely in particular on synergies with the Group’s various businesses (Group Insurance, Employee Savings, etc.).
“This operation is perfectly consistent with Crédit Agricole’s Societal Project and its commitment to supporting purchasing power.”
Established in 2020, Worklife provides an application that combines all employee benefits including restaurant vouchers, sustainable mobility package, transport subscription, and a payment card.
The fintech firm is said to have created a unique technology that helps it to design any sort of benefit to adapt to various company agreements and integrate seamlessly with any HR information system.
Employee users of the Worklife solution can quickly comprehend all the systems accessible to them, specifically through an individualised social report available each month on their application.
Besides, managers and human resources functions are provided with a tool to streamline and handle their employee benefits policy.
Worklife managing director and co-founder Benjamin Suchar said: “Combining the power of the Crédit Agricole group with the innovation and native agility of Worklife will make it possible to better support business leaders in managing their remuneration policy and their employer brand in an increasingly complex labour market, even competitive.”
