Zopa and ClearScore team up to tackle cost-of-living crisis
Digital bank Zopa and credit score provider ClearScore have joined forces to tackle the UK’s cost-of-living crisis.
The ‘2025 Fintech Pledge’ aims to unite the fintech industry, to help drive 10 million consumer actions by 2025 that build up the financial resilience of UK consumers.
The focus of the plan is on four areas that will improve financial resilience: savings, credit, debt consolidation and utility switching.
“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 (pictured), chief executive at Zopa, which exited the peer-to-peer lending space at the start of this year.
“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.”
Read more: Zopa Bank deposits pass £2bn
Zopa and ClearScore will announce the Fintech Pledge later today at Dreamforce2022, an annual Salesforce event.
“This initiative can make a real difference to people’s lives,” said Justin Basini, chief executive and co-founder of The ClearScore Group.
“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.”
Organisations looking to join the 2025 Fintech Pledge and consumers wanting to find out more can visit pledge2025.org for more details on the initiative.
This not the first time that Zopa and ClearScore have partnered on initiatives. Last year, Zopa teamed up with ClearScore to utilise open banking capabilities for its customers.
ClearScore claimed that this was the first in-market open banking integration between a credit marketplace and credit partner.
