Why TotallyMoney is joining Innovate Finance
By Alastair Douglas, CEOFeb 21st 2022
We’re really excited to be joining Innovate Finance, the independent industry body which represents and advances the global fintech community in the UK.
With the cost-of-living crisis continuing to unfold, interest rate rises to combat increasing inflation, and imminent tax hikes to cover the cost of covid, people need more support than ever before.
However, a recent StepChange report found that 53% of adults would be reluctant to seek financial help from a bank or credit firm when in difficulty. As a community, we know a lot of work needs to be done to gain customer confidence. And so it’s more important than ever that the industry works together.
At TotallyMoney, one of our key goals is to enable fintech for everyone. We need to ensure customer's data works for them, and not against them, and that people are provided with the tools they need to navigate through financial difficulties, gaining momentum and reaching their goals.
Just last week we announced that by partnering with Bud, we’ll be able to enrich our service with open banking data, providing greater transparency and better borrowing decisions for both customers and lenders.
But this is just the beginning. By becoming a member of the Innovate Finance community, we look forward to joining other like-minded fintechs in driving change and supporting the 50% of people we believe are currently under-served by the UK credit market.
At TotallyMoney we’re on a mission to help everyone move their finances forward. By working together with other Innovate Finance members, we hope to make this mission a reality.