Emerald Finance Limited has announced a strategic partnership with M/s Nefra Infoservices India Pvt Ltd, Maharashtra, to launch an Early-Wage-Access program for employees. This collaboration aims to expand Emerald Finance's retail customer offerings through salary advance solutions.

Partnership Details

The partnership with Nefra Infoservices India Pvt Ltd focuses on providing instant financial relief to employees by enabling them to access part of their salaries seamlessly throughout the month. This initiative represents a significant step in Emerald Finance Limited's strategic expansion into retail customer services.

Product Structure and Vision

The Early-Wage-Access program aligns with Emerald Finance Limited's broader vision to expand its offerings and serve retail customers at large. The company has been actively working on developing salary advance solutions as part of its growth strategy.

The product structure involves:

• Tying up with employers to offer short-term loans as salary advances
• Providing immediate financial access to employees
• Collection of lent amounts through salary deduction mechanisms
• Seamless integration with existing payroll systems

Strategic Implications

This partnership marks Emerald Finance Limited's entry into the employee financial wellness segment, positioning the company to capture a larger share of the retail lending market. The salary advance solution represents an innovative approach to addressing immediate financial needs of working professionals while maintaining a secure collection mechanism through employer partnerships.

The Early-Wage-Access program is expected to enhance employee satisfaction and financial flexibility while creating a new revenue stream for Emerald Finance Limited through its expanding retail customer base.

Emerald Finance Limited has entered into a strategic partnership with Thelexicon Educational Society to launch its Early-Wage-Access program for the society's employees. The collaboration aims to enable employees to access salary advances seamlessly throughout the month.

Partnership Details

The partnership involves Thelexicon Educational Society, located at Landra Road SAS Nagar Mohali Punjab-140301, which will now offer Emerald Finance's Early-Wage-Access program to its workforce. This initiative represents a significant step in the company's strategy to expand its retail customer base and diversify its financial service offerings.

Program Features and Benefits

The Early-Wage-Access program is designed to provide instant financial relief to employees by enabling them to access portions of their salaries seamlessly throughout the month. This solution addresses the immediate financial needs of workers without requiring them to wait for their monthly payday.

Key aspects of the program include:

• Instant access to earned wages before the regular payday
• Seamless integration with existing payroll systems
• Short-term loan structure as salary advances
• Repayment through automatic salary deductions

Strategic Business Expansion

This partnership aligns with Emerald Finance Limited's broader vision to expand its service offerings and serve retail customers at a larger scale. The company has been actively developing salary advance solutions as part of its growth strategy, focusing on creating partnerships with employers to facilitate short-term lending.

The salary advance product operates through a systematic approach where the company ties up with employers to offer financial assistance to their workforce. The lending amount is subsequently recovered through salary deductions, ensuring a structured repayment mechanism that benefits both the employees and the financial service provider.

Regulatory Compliance

The partnership announcement was made in compliance with regulatory requirements, specifically under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure ensures transparency and keeps stakeholders informed about significant business developments and strategic partnerships.