Salary Finance - Partnership Overview (UK only)

Introduction

This article offers information about Salary Finance, what it offers, why it matters, and the core products it offers. Learn about eligibility, costs, and how to get started. This article is useful to members and clients in the United Kingdom only.

Background

Reward Gateway | Edenred has partnered with Salary Finance to bring employees a suite of practical, salary-linked financial wellbeing tools. Designed to help people borrow affordably, save regularly, access their earned pay early, and build their financial knowledge over time.

 As a global leader in employee experience, Reward Gateway | Edenred serves more than 6.5 million employees across the UK, helping organizations connect their people to meaningful benefits through the EngagementOS programme. The partnership with Salary Finance extends that mission into one of the most important and often overlooked areas of employee wellbeing: financial health.

About Salary Finance

Salary Finance was founded in 2015 and is the UK's largest employee financial wellbeing provider. It supports 4 million employees across 500 clients, including 20% of the FTSE 100. It is backed by Legal and General, Goldman Sachs, Experian, and Blenheim Chalcot, and is authorized and regulated by the Financial Conduct Authority.

Salary Finance has been a long-term partner of both Reward Gateway and Edenred, making this one of the most established and trusted relationships in our partner portfolio.

Why Financial Wellbeing Matters for Your Organization

• Financial stress is one of the most significant - and often invisible - drains on workplace productivity. The evidence is clear:
• 70% of full-time employees report feeling worried about money (Vitality)
• 13 million working days are lost each year due to financial stress (Centre for Economic and Business Research)
• Financial stress costs UK businesses an estimated £10.3 billion every year (Centre for Economic and Business Research)
• 11.5 million adults in the UK have less than £100 in savings (Money and Pensions Service)
• 42% of adults have used borrowing to cover everyday living costs (Resolution Foundation)
• 3 million people used illegal lenders in the three years to June 2023 (Fair4All Finance)
• Offering Salary Finance as part of your benefits platform signals to employees that their employer understands the real pressures they face and is taking meaningful action to help, through the provision of practical tools that make a genuine difference.

Salary Finance Products 

Salary Finance offers three core products, all accessible through the Salary Finance app and available directly from your Reward Gateway | Edenred EngagementOS: 

• Borrow (Employee Loans) - affordable salary-linked personal loans from 5.9% APR, with repayments taken directly from pay in simple installments
• Advance (Salary Advance) - early access to up to 50% of earned pay before payday, for a single flat transaction fee with no interest
• Save (Salary Savings) - automated salary-linked savings with contributions deducted before pay reaches the bank, held with Coventry Building Society at 2.00% AER (variable)

All three products are underpinned by Learn, Salary Finance’s financial education platform, helping employees not just manage short term financial pressure but build longer term financial resilience.

Case Studies

See what Oxford University Hospital NHS Trust have to say about their experience of working with Salary Finance, you can watch a short 4 minute video here: Salary Finance Case Study: Interview with Oxford University Hospital NHS Trust.

Eligibility  

Salary Finance is currently available to organizations with 1,000+ employees. This is because the service requires a dedicated level of implementation, payroll integration, governance and ongoing support to ensure employees receive the best possible experience.

For Organizations With 1000-5000 Employees

Salary Finance will provide a structured communications plan at launch and on an ongoing basis, as part of their broader financial wellbeing strategy on the platform. 

Salary Finance is a regulated service provider, therefore the communications are drafted and fully owned by Salary Finance and cannot be amended. This is to ensure compliance and protect all parties.

For Organizations With 5000+ Employees

Reward Gateway | Edenred will support this process, providing communications planning and assets alongside Salary Finance's own launch materials. A benefit that is well communicated is a benefit that gets used, and our shared goal is to make sure every employee knows it is available and feels confident using it.

Salary Finance is a regulated service provider, therefore the communications are drafted and fully owned by Salary Finance. 

Once a contract has been signed, Salary Finance will run a communications workshop with the client and their comms team. This session aims to understand channel infrastructure, culture, and demographics to ensure the messaging is as tailored and appropriate as possible. Salary Finance will allocate a dedicated Employee Comms Manager who will own the creation of all digital and physical assets and will work with the client to approve these and ensure compliance sign-off. As part of this process, RGER content will also be provided, and the RGER account manager is welcome to be involved for the workshop as well as working as a partner to support the execution of go live.

Costs 

Thanks to the commercial arrangement Reward Gateway | Edenred has put in place with Salary Finance, this benefit is provided free of charge to clients with 1000+ employees. There are no implementation fees and no ongoing platform costs.

How To Get Started

Please speak to your Client Success team to find out more about these fantastic benefits.

Salary Finance Limited and Salary Finance Loans Limited are authorized and regulated by the Financial Conduct Authority (firm reference numbers: 758053 and 734585) and are registered in England and Wales (company numbers: 09677777 and 07643748) at Scale Space, 58 Wood Lane, London, W12 7RZ.)