Hi backs findings of EY report into On-Demand Pay
Updated: Feb 1, 2022
We at Hi55 Ventures want to highlight an excellent and detailed report from accountancy giant EY on the huge potential of On-Demand Pay.
EY’s analysis has found an incredible $1 TRILLION of payroll is accrues in employers’ treasuries across OECD countries before it’s paid to employees. They argue that access to this liquidity "could enable employees to take control of their finances and improve their financial wellbeing".
This report shows just why On-Demand Pay is the future – it helps tackle the huge financial stress suffered by millions of workers through financial shortfalls caused by monthly pay, and at the same time benefits employers hugely by reducing the annual cost, which EY says runs to a massive $300bn, through lost productivity due to employee financial stress.
We wholly endorse these findings, and go further – we believe Hi, with its new category of trade finance, Pay Asset Finance, ground-breaking payroll funding platform, can give even swifter access for employees to their hard-earned cash.
To find out more about the massive benefits of Hi, check us out at www.hi.group