Emerald Finance Limited has announced a strategic partnership with Secure Guard Security and Manpower Services, Chandigarh, to launch its EarlyWage-Access program. The collaboration aims to enable employees to access salary advances seamlessly throughout the month, providing instant financial relief without requiring traditional loan procedures.

Partnership Details

The company disclosed this development pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Program Structure and Benefits

The EarlyWage-Access program represents a salary advance solution that allows employees to receive part of their earned wages before the regular payday. The program operates through a systematic approach where Emerald Finance provides short-term loans as salary advances, with repayment facilitated through salary deductions.

Key features of the program include:

• Instant access to earned wages throughout the month
• Seamless integration with existing payroll systems
• Automatic repayment through salary deduction
• No complex loan application procedures

Strategic Expansion Initiative

This partnership aligns with Emerald Finance Limited's vision to expand its service offerings and serve retail customers more comprehensively. The company has been developing this salary advance solution as part of its broader strategy to diversify its financial products and reach a wider customer base.

The initiative involves establishing partnerships with employers to offer short-term financial solutions directly to their workforce. This approach creates a win-win situation where employees gain financial flexibility while employers can offer additional benefits to their staff.

Implementation Framework

The program operates through a structured framework where Emerald Finance Limited partners with employers to provide the financial infrastructure. The company extends short-term loans to employees, with the loan amounts subsequently recovered through systematic salary deductions coordinated with the employer's payroll system.

This model aims to ensure minimal risk for all parties involved while providing employees with much-needed financial flexibility during the month. The partnership with Secure Guard Security and Manpower Services serves as a pilot implementation of this broader business strategy.

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.