Interview
Q& A
Ben Silluzio, CEO, oNesto XU:
For our readers that aren’t familiar with oNesto, how would you sum it up?
BS:
oNesto is an Employee Benefits platform that enables employees to save without nudging or altering their ordinary savings or spending habits. Ultimately assisting the attraction, retention and productivity of staff.
XU: BS:
What are its main features?
1. Shop and save Receive up to 10% Cashback from participating retailers. 2. Flexibility of Wages - Enabling access to earned wages intra-pay cycle. 3. Financial LMS - Focused on financial literacy & employee wellness. 4. Employee Awards and Recognition Platform - Providing cost effective tailored employee awards.
XU:
Who are your target users and who will it help benefit?
BS:
Our target customer is small businesses and the people who work for them. Our products give people discounts that until now have only been available to multinational corporates. This helps smaller businesses offer employee benefits that make attraction and retention of staff easier, and brings them closer to
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the benefits platforms offered by large corporates.
XU:
oNesto claims to help employees make smart financial decisions, improving the financial fitness of their teams. How does it do this?
BS:
Our financial literacy platform has over 100 courses on savings, budgeting, and financial products. This learning combines into the flexible wages product, where users can get access to their wages when they need to pay bills, ensuring they avoid any charges for mistimed payments. This helps users avoid expensive forms of credit such as payday loans and credit cards.
SMEs and can be installed via the Xero Marketplace in as little as 15 minutes.
XU:
You have recently integrated with Xero. Why did you choose to work with them, and how will this benefit users?
BS:
Xero is the world’s leading SME accounting software solution. We love its capabilities and ease of use. It provides real benefits and solves real problems for small businesses. We similarly provide benefits and solve problems, albeit a different set of problems. As such it creates a perfect synergy between our platforms.
XU:
Personally, what is your favourite aspect or feature of oNesto?
BS:
What makes it different from other options on the market?
The Shop to Save feature is so unique and simply awesome. You can shop with your earned wages at 60+ major Australian retailers and you receive up to 10% cashback. On top of this for convenience, you can include your retailer’s loyalty card to ensure you capture all available discounts and loyalty points.
BS:
XU:
The Shop & Save feature provides up to 10% Cashback though more than 60 major essential retailers, and builds a savings fund for users at no cost and without any changed spending habits.
XU:
Other awards and recognition programs are often not available to small businesses, and if they are have significant activation and integration cost which makes them prohibitive. These programs are often tailored to large corporations whereas our product has been built for
We’d love to learn a bit more about you and your experiences, Ben. What were you doing before you founded oNesto?
BS:
Prior to founding oNesto, I was on a two year sabbatical whereby I completed a double MBA at Columbia Business School in New York & London
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