UK challenger bank Tandem has joined the pledges of other tech companies to help drive positive financial actions for millions living in the UK.
This pledge comes as a commitment to the 2025 FinTech Pledge, which is a cross industry initiative aimed at bolstering consumers financial resilience in the face of the cost-of-living crisis.
Others to have already confirmed their support are Zopa Bank, ClearScore and Google Cloud.
The pledges aim to drive ten million consumer actions by 2025 and build the financial resilience of customers. It is focused around four main themes.
The first is focused around savings and transforming them from low to high interest-yielding accounts and setting up pots to maximise customers savings. Theme two is credit building and helping people sign up to a credit building tool to access better value financial products.
Thirdly, they commit to debt consolidation. This means helping customers access a debt consolidation tool to analyse how much they could be saving to reduce their financial obligations over time.
Finally, the companies pledge to utility marketplaces. This means helping to identify cheaper utility deals on a digital marketplace to save money on month-to-month payments.
Speaking on the pledge, Tandem CEO Susie Aliker said, ?With no clear end to the current economic turmoil in sight, the 2025 Fintech Pledge presents a unique opportunity to harness the collective might of the fintech industry for the benefit of the everyday consumer.
?Were focussed on helping our customers bank for a greener future and are therefore delighted to pledge our support with other FinTechs to help support and bring material change to customers lives.span>
Zopa Bank CEO Jaidev Janardana added, ?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. 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. Were delighted to be working with a growing coalition of UK FinTechs, their partners, and charities as we begin this journey.span>
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