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: