Loqbox today announces it has joined the 2025 Fintech Pledge (pledge2025.org) to help tackle the UK’s cost-of-living crisis.
They join a coalition of UK fintechs and their industry partners who have teamed up to help Britons across the country combat the rising cost of living.
Launched by founding members Zopa Bank and ClearScore in September 2022, the pledge aims to drive 10 million consumer actions by 2025 that build up the financial resilience of UK consumers.
Co-Founder and Co-CEO of Loqbox, Tom Eyre commented: “Now, more than ever it is vital that people focus on their financial well being. Every person on the planet interacts with money but only a few enjoy a happy, healthy relationship with it. Most do not. Our mission at Loqbox is to give everyone access to a richer life. We do this by enhancing people’s financial profile, knowledge and security. This enables them to build healthy, lifelong financial habits, improving their relationship with money. We are thrilled to be part of this movement to help drive the 10 million consumer actions over the next few years”.
The pledge will achieve its goal by connecting people to platforms that make savings work harder, improve credit scores, consolidate debt, and lower utility bills.
Jaidev Janardana, CEO at Zopa said: “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. We’re delighted to be working with a growing coalition of UK fintechs, their partners, and charities as we begin this journey.”
Janine Hirt, CEO of Innovate Finance added: “We’re pleased to see UK FinTechs partnering with financial institutions to help Britons through the cost-of-living crisis. It is imperative that the FinTech ecosystem works together to address these issues head on and secure a better future for consumers everywhere. The 2025 Fintech Pledge is a very positive step towards improving financial wellness and inclusion for all."
With one in four adults in financial trouble or at the brink of difficulty (FCA, Oct 2022), the pledge’s ambition is to support circa 20% of the UK population that has been or may be affected by the cost-of-living crisis.
Progress towards reaching the goal will be reported monthly in a joint dashboard.