“Q LINK is a financial automation technology that enables a one-stop type collection of massive volumes of regular payments like monthly bank debits or payroll deductions, and is a valuable transactional switch, because it overcomes the complexity of having multiple interfaces for a variety of collection channels,” says Clark Gardner, founder and CEO of the Summit group.

“Q LINK processes deductions from the salaries of some 2.4 million people in SA,” says Gardner. “The technology enables the implementation of automated rules when processing large volume deductions from payrolls, and amongst other things this ensures the affordability and validity of these deductions. The Summit group’s vision is to protect consumers and responsible industry players by eliminating abuse by unscrupulous or overly aggressive financial service providers. A platform like Q LINK connects banking solutions with employee payrolls in a responsible and cost effective manner. This means that the technology has great potential both locally and in the rest of Africa,” he adds.

Summit Garnishee Solutions and Summit Financial Partners work with large companies and government to help restore employees to financial wellness through financial education, protection and mentoring. The Summit group offers outsourced garnishee management, together with debt relief and legal interventions that are pro-consumer; and lobbies for consumer rights to be upheld in the financial services and credit provision industries. Their impartial guidance and financial solutions are novel in a world that relies on product commissions to distribute advice.

“Quick wins are needed in the financial services industry to tackle the clear abuses and criminal activity by service providers, such as those found in the collections industry, where garnishee orders predominate. There are many legitimate lenders and vulnerable consumers who are prejudiced by these practices,” Gardner says, explaining that garnishee orders are a legal instrument that forces employers to deduct funds from staff salaries to offset employee debts.

With this acquisition Summit Garnishee Solutions can ensure that an ethos of consumer rights protection becomes automated into payroll processes,” Gardner adds, pointing out that besides making sound financial sense, the acquisition is also motivated by a will to assist responsible financial service providers in the employee payment processes.

“Doing good and doing good business is an easy decision to make. Making long term changes to the South African consumer credit crisis is of course much harder, but that won’t deter us from trying to make a difference. South Africa’s addiction to debt and inability to save is hurting our country, and that’s something we at Summit Garnishee Solutions and Summit Financial Partners hope to change. We want to assist in this change by providing the tools and solutions to the responsible service providers who have a significant appetite to rehabilitate this sector.”