TotallyMoney joins Innovate Finance as it drives to enable fintech for everyone
By TotallyMoneyFeb 21st 2022
TotallyMoney, the credit app that helps everyone move their finances forward, has joined Innovate Finance, the independent industry body which represents and advances the global fintech community in the UK.
- TotallyMoney is the UKs top-rated credit report provider with a focus on supporting the c. 25m often overlooked by the traditional financial ecosystem
- This comes shortly after it announced its partnership with Bud, which unlocks open banking data, improving transparency and better lending decision-making
- In November 2021 the fintech announced its latest investment round of £9m, and at the same time reached the 4 million customer milestone
- In the past 12 months TotallyMoney has grown its team by 20%, while being recognised by Best Companies as the UK’s 5th best finance firm to work for
With inflation at a 30-year high and expected to continue rising, as well as imminent tax hikes and increasing interest rates, TotallyMoney’s focus is on the 50% of people currently under-served by the UK credit market.
TotallyMoney provides its customers with the UK’s only free live credit score and report, giving them personalised recommendations to help improve their financial wellbeing.
The Old Street-based business will use its membership with Innovate Finance to forge deeper relationships with the growing UK fintech community, as it continues its drive to enable fintech for everyone.
Commenting on joining Innovate Finance, Alastair Douglas, CEO of TotallyMoney said:
“We’re really excited to be joining Innovate Finance, a community of some of the UK’s most exciting and forward-thinking fintechs.
“However, with a recent StepChange report finding that 53% of adults would be reluctant to seek financial help from a bank or credit firm* when in difficulty, we know a lot of work still needs to be done to prove that there is the support they need.
“With the cost-of-living crisis continuing to unfold, it’s more important than ever that the industry works together. We need to ensure consumer data works for them, and not against them, and that people are provided with the tools they need to navigate through financial difficulties, to gain the momentum and reach their goals.
“At TotallyMoney we’re on a mission to help everyone move their finances forward. By working together, with like-minded members of the Innovate Finance community, we hope to make this mission a reality.”
Parveen Dhanda, Ecosystem Director at Innovate Finance comments:
"We are excited to welcome TotallyMoney as Innovate Finance members, where they will join an ever-growing ecosystem of forward-thinking and innovative companies, ranging from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs."
About Innovate Finance
Innovate Finance is the independent industry body that represents and advances the global FinTech community in the UK. Our mission is to accelerate the UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators.
Innovate Finance’s membership ranges from seed stage startups and global financial institutions to investors, professional services firms, and global FinTech hubs. All benefit from Innovate Finance’s unique position as the single point of access to promote enabling policy and regulation, talent and skills, business opportunity and growth, and investment capital.
By bringing together and connecting the most forward-thinking participants in financial services, Innovate Finance is helping create a global financial services sector that is more transparent, more sustainable and more inclusive.
For more information, please contact the press team
TotallyMoney believes people’s financial data should work for them, and not against them and with more than four million customers, they provide the UK’s only free, live credit score and report.
Its service helps customers understand their financial position and provides personalised recommendations so they can start creating financial momentum. TotallyMoney also works closely with leading lenders, to ensure eligible customers are matched with the right products, underpinned by its robust data, product and tech capabilities.
TotallyMoney is regulated by the Financial Conduct Authority (FCA).