Rapyd, a global Fintech-as-a-Service provider, announced today that it has entered into an agreement with Lano, a platform that helps businesses hire and manage their global teams, to power their global payment and disbursement capabilities.
This past year marked a dramatic acceleration in the adoption of remote working. A recent Microsoft study found that 46% of the workforce plan to move in response to this new found corporate flexibility. Many companies have jumped headfirst into the race to attract the best remote talent: there has been a 5X increase of remote job postings on LinkedIn since the start of the pandemic. Others are working to adapt existing policies and structures to the current environment. In both cases, there’s a great deal of uncertainty when it comes to how to hire and manage global talent in a simple and compliant way.
Operating in more than 150 countries and nearly 5,000 cities Lano supports top talent anywhere in the world, working with leading companies to help them manage hiring, compliance, and payments for full-time employees or freelance contractors.
Lano is leveraging Rapyd’s payment capabilities to enable remote workers to get paid faster and without the hassle of complex transactions or expensive conversions into local currency. With Rapyd, Lano will now be able to offer improved access to local payment methods in 50+ currencies, a functionality key to the dispersed workforce. Employers can also approve and pay invoices for their global team in minutes, while enjoying considerable savings on FX fees and costly international bank transfers, allowing them to focus on key business functions as opposed to payment logistics.
“We are excited to be partnering with Lano, a company whose vision truly aligns with ours - to create a future without borders that continues to support local preferences,” said Sarel Tal, VP EMEA at Rapyd. “International payment management has long been one of the most complicated parts of managing a global workforce for companies. Such cross-border payments introduced additional costs for both the employer and the employee, along with delayed payments and the associated compliance and regulatory issues. This has significantly limited employers from taking advantage of international talent - but we are making that a problem of the past and are enabling companies of all sizes to go global”.
“With Rapyd’s capabilities, we can empower more companies to hire the best global talent for their teams - without the limitations of currency or geography,” said Aurel Albrecht, CEO and Co-Founder of Lano. “Given our European origin, we know that the size of the local talent pool can dictate the pace of growth. This partnership will better equip companies to grow on a global scale, without worrying about challenges related to compliance or cross-border payments.”