Emerald Finance Limited has announced a strategic partnership with Interactive Tradex India Pvt Ltd to introduce an Early-Wage-Access program for its employees. This collaboration marks a significant step in Emerald Finance's vision to expand its offerings and cater to retail customers.

Key Features of the Partnership

• Flexible Salary Access: Employees can now access a portion of their earned wages throughout the month, providing instant financial relief when needed.
• Short-Term Loan Structure: The program operates as a short-term loan system, with repayments facilitated through salary deductions.
• Seamless Integration: The partnership aims to offer a smooth and efficient process for employees to utilize this financial benefit.

Strategic Expansion

Amarjeet Kaur, Company Secretary cum Compliance Officer of Emerald Finance Limited, stated in the company's disclosure to the BSE, "The Company, in line with its vision to expand its offerings and to serve retail customers at large had been working on a salary advance solution."

Implications for Emerald Finance

1. Product Diversification: This move signifies Emerald Finance's entry into the growing field of employee financial wellness solutions.
2. Retail Customer Focus: The partnership aligns with the company's strategy to broaden its customer base in the retail segment.
3. Innovative Financial Solutions: By offering salary advances, Emerald Finance positions itself as an innovator in the financial services sector.

Regulatory Compliance

The partnership announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, underlining the company's commitment to transparency and regulatory adherence.

This strategic move by Emerald Finance Limited reflects the growing trend of financial institutions partnering with employers to offer flexible financial solutions to employees, potentially opening new revenue streams while addressing the evolving financial needs of the workforce.

Emerald Finance Limited has announced a strategic partnership with Ind-Swift Laboratories Limited to launch an innovative Early-Wage-Access program. This collaboration marks a significant step in Emerald Finance's expansion into salary advance solutions, aiming to provide instant financial relief to employees.

Key Highlights of the Partnership

• Early-Wage-Access Program: The program allows employees of Ind-Swift Laboratories to access a portion of their earned salaries throughout the month, rather than waiting for the traditional payday.
• Instant Financial Relief: By providing access to earned wages before the regular pay cycle, the program aims to offer immediate financial support to employees when needed.
• Employer Collaboration: This partnership demonstrates Emerald Finance's strategy of tying up with employers to offer short-term loans in the form of salary advances.
• Repayment Mechanism: The repayment of these salary advances will be collected through salary deductions, ensuring a seamless process for both employees and employers.

Emerald Finance's Strategic Move

This partnership aligns with Emerald Finance's vision to expand its offerings and serve a broader retail customer base. The company has been developing its salary advance solution as part of its growth strategy in the financial services sector.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Emerald Finance Limited has officially disclosed this partnership to the BSE Limited. The disclosure, signed by Amarjeet Kaur, Company Secretary cum Compliance Officer, underscores the company's commitment to transparency and regulatory adherence.

Implications for Employees and Employers

The Early-Wage-Access program is expected to provide several benefits:

1. Financial Flexibility: Employees gain more control over their earnings, accessing their wages when needed most.
2. Stress Reduction: The program may help alleviate financial stress by providing a buffer against unexpected expenses.
3. Employer Appeal: For Ind-Swift Laboratories, this program could serve as an attractive employee benefit, potentially aiding in recruitment and retention.

As the financial services landscape continues to evolve, Emerald Finance's move into the salary advance sector represents a timely response to the changing needs of the modern workforce. This partnership with Ind-Swift Laboratories could serve as a model for future collaborations, potentially reshaping how employees interact with their earned wages.