Fair finance is accessible to 700,000 employees, thanks to Neyber. This figure is due to rise to over one million in 2017.
Neyber is currently delivering borrowing and financial education to employees of over 60 companies and is also available via 14 employee benefit platforms. Neyber has also partnered with Police Mutual, who have successfully raised over £30m of ISAs for their members.
As part of Neyber’s commitment to improving the financial wellbeing of employees, Neyber will replicate the success of this product and soon provide an attractive Neyber ISA product to all their customers.
Employers offering Neyber’s fair finance solution to their employees come from a broad range of sectors. These include the UK Police Service, NHS Trusts, London City Airport and the professional services provider Personal Group.
Anglian Water is one of the most recent employers to have partnered with Neyber and will now be offering Neyber’s salary deducted loans and financial education across their four thousand strong workforce.
Sally Purbrick, head of reward at Anglian Water, said: “Employee engagement surveys at Anglian Water have shown the degree to which financial wellbeing matters for people across our organisation. Neyber provides the breadth of services that our employees need and has significant experience of delivery to geographically diverse and multi-generational workforces such as ours.”
Monica Kalia, co-founder and chief strategy officer at Neyber, said: “We are delighted to be working with over 60 organisations in the UK who are helping make fairer finance a reality. The vast majority of Neyber customers are taking out loans to consolidate their debt, and we believe this demonstrates how Neyber is part of the solution. Neyber borrowers have already saved £14m in interest costs, driving a 25% reduction in monthly debt service costs, promoting greater financial inclusion and helping hardworking people out of a jam.”
