Greensill Wins 2020 SCF Innovation of the Year for Earnd Instant Pay App

23rd November, 2020

Greensill is proud to take home SCF Innovation of the Year at the 2020 Supply Chain Finance Awards, in recognition of Earnd, which empowers employees to see and access their pay as they earn it in real time.

The 2020 SCF Innovation award was presented to Earnd — an Australian tech company acquired by supply chain finance provider Greensill earlier this year.

The start-up was founded in Australia in 2018 with the aim of helping people access the money they have earned as soon as possible to give them more control over their finances.

Earnd addresses the issue that an estimated $1 trillion of credit is provided by the world’s employees to their employers. Employees often wait until the end of the month for their salary which effectively means they are providing their employers with up to 30 days credit.

Waiting for payday can cause unnecessary financial stress to employees who might be in sudden need of immediate access to cash, according to Earnd.

The tech start-up created a mobile phone app that lets employees see and access their pay as they earn it in real time. It aims to give employees more financial control and autonomy over their pay and when they receive it.

The concept fitted with Greensill’s view that all workers are effectively suppliers and there is no difference between a company making an early invoice payment to a supplier – as in a typical supply chain finance programme – or making an early payment to a worker.

“Greensill has a great track record for innovation, be it SCF funds for corporate treasurers or use of capital markets to fund an SCF programme, “ said Michael Henke, professor at Fraunhofer Institute, board member of the SCF community and judge for this year’s awards.

“By constantly developing their products and adapting them to the technology-changing economic landscape, Greensill not only shows flexibility and adaptability but also future-oriented thinking,”

Following the acquisition in March, Earnd was rolled out to National Health Service (NHS) workers in the UK for free to support staff during the Covid-19 pandemic.

The company plans to ensure the app will be free to all employees and public sector employers in the future, with private sector employers paying a small fee, which Earnd argues will be worth it for the improved rates of staff retention and productivity.

According to Earnd research, companies see an average of a 19 per cent reduction in employee turnover when on-demand pay is offered as a company benefit. It also found that one in two people said they would be more productive and engaged if their company offered on-demand pay.

< Back to News

Visionary, Bold, Disruptive

Each month, Greensill’s team of experts contribute to the latest insights and analysis, setting the agenda and leading the discussion on unlocking capital so you can put it to work.


27th July, 2020

Doctors Go Digital

A new digital partnership has developed solutions that enable the NHS to cover staff shortages more efficiently, provide on-demand pay for doctors working additional locum shifts and can potentially reduce the NHS annual agency bill for temporary staff.


16th June, 2020

Fair Finance in Latin America

Greensill is rapidly scaling up to offer Latin American businesses a much-needed lifeline and fairer access to finance. Learn how a new Greensill partnership aims to unlock $750 billion of working capital across Latin America.


22nd April, 2020

Drive to Survive: Funding the Automotive Future

Covid-19 and regulatory pressure present incredible challenges for the automotive industry, but investments in the future of transportation offer a path forward. Learn how Greensill is helping to fund the automotive future.


6th March, 2020

Spotlight on Suppliers

Greensill founder and CEO Lex Greensill understands the difference a steady stream of reliable working capital can make to a small business. Hear from the businesses and people who rely on Greensill to make finance fairer for all.

Sign up to monthly insights in our Newsletter

Subscribe to the Greensill monthly newsletter to discover the latest in news, views and insights in the world of balance sheet optimisation, working capital and supply chain finance. Join the discussion today.