Latest News

Zopa and ClearScore launch scheme to boost consumer finances

By Alexandra Leonards

Digital bank Zopa and credit marketplace ClearScore have launched a new cross-industry initiative aimed at strengthening consumer finances during the cost-of-living crisis.

The 2025 FinTech Pledge sets out actionable steps for UK consumers to build up their financial resilience.

The companies say that the initiative aims to drive “10 million actions” by 2025.

“With the UK facing an unprecedented cost of living crisis, households need to use every tool at their disposal to build long-term financial resilience,” said Jaidev Janardana, chief executive, Zopa. “This industry pledge – the first of its kind – will unite a wide variety of companies in one goal of driving positive financial actions for millions living in the UK.

"We’re delighted to be working with ClearScore as we begin this journey. As the scheme progresses, a variety of programmes and partnerships will help to drive 10 million actions by 2025.”

The new set of actions focus on savings, credit building, debt consolidation, and utility marketplaces, including searching for lower priced utility deals on digital marketplaces to save money on one or more monthly payments.

Justin Basini, chief executive and co-founder of The ClearScore Group, said: “This initiative can make a real difference to people’s lives. We can help people rethink their finances and take action to make themselves better off. The FinTech industry has a key role to play in building financial resilience and we look forward to working with Zopa and future partners to make this a reality across the UK.”

    Share Story:

Recent Stories

Barclays issued with $361m penalty

Toqio raises €20m in Series A funding round

Penfold launches Advisor Portal aimed at SMEs


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

BANNER

BANNER

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.

© 2019 Perspective Publishing     Privacy & Cookies