Funding Bay – UK Business Finance Brokerage Cuts Costs by 63%

A business finance brokerage based in London, UK. Funding Bay has the volume of business to expand, but hiring in financial services in the UK is expensive and/or high-risk. South African staff have now become a key part of the strategy for Funding Bay, who has hired specialised marketing and business development teams in Cape Town.

We provide a comprehensive in-country Employer of Record (EOR) solution in South Africa for Funding Bay. We have identified, recruited, and onboarded a full team of highly skilled professionals based in South Africa. The average like-for-like cost saving for Funding Bay is 63%, and the team continues to grow at pace.

Our services included:

**Recruitment:** In financial services, there are stringent skill requirements, so we have sourced and placed highly trained and experienced staff who fit well within the company's culture. All of our recruits are nothing short of legends! All with high-standard university degrees and a few years of working experience under their belts.

**Employer of Record:** We have built a smooth onboarding process that complies with both South African and UK employment laws, ensuring a seamless integration of new staff, and our ongoing support includes payroll management, compliance with local employment regulations, and continuous HR assistance. enabling the client to focus on their core business activities and managing their remote team's work schedule.

**International Support Services:** The compliance-focused and high-training environment that the client operates in meant there was a requirement for staff to be on-site. We provide the team with full-time on-site office space equipped with state-of-the-art IT services, hardware, and stable internet access. In addition, we provide additional HR support for this client, as they are high-growth and are keen to ensure a high level of compliance and support for on-site staff.

**Cost Savings:** By hiring remote staff in South Africa, the average like-for-like cost saving for Funding Bay is 63%.

**Scalability:** The client has tripled their turnover in the 2 years working with us, and they are continuing to further scale their operations, with a substantially reduced cost base.