Credit, savings, knowledge and confidence

Loqbox is a financial wellbeing business helping people build their credit, grow their savings and learn about how money works.

At its heart, Loqbox exists to build better borrowers. We help people who cannot yet access the financial products they want, or cannot access them on affordable or attractive terms, to demonstrate positive financial behaviours, build savings and strengthen their credit profile, knowledge and confidence.

We use the term pre-prime to describe people who may not yet be considered prime customers, but who are building the financial capability, behaviours and track record to become the prime customers of tomorrow.

Building better borrowers does not mean assuming that people are inherently poor financial risks. Many are managing their money responsibly but lack the data, experience or opportunity needed to demonstrate it.

As they progress through their Loqbox journey, we want people to be in a stronger financial position. That can mean having built a pot of savings, strengthened their credit profile, developed a better understanding of how the financial system works, and gained the confidence to make progress towards their personal goals.

Financial inclusion: access that works for the individual

According to HM Treasury’s Financial Inclusion Strategy, published in 2025:

We see this definition as an important starting point. For us, however, meaningful financial inclusion is not simply about whether someone can access a financial product. It is about whether they can access the right product, at the right price, at the right time, for their individual circumstances.

For a meaningful proportion of our members, limited financial knowledge and low confidence can be barriers to becoming better borrowers. In our research, we have observed a pattern that can reinforce itself:

This is why the Loqbox experience places as much emphasis on developing knowledge and confidence as it does on its credit-building and savings tools. Ultimately, it is this combination that can build the financial resilience and capability we recognise as key characteristics of better borrowers.

Building financial resilience

Resilience is a consumer’s ability to withstand negative financial shocks, such as an unexpected expense or loss of income, without suffering severe hardship or being unable to meet essential household bills.

Financial resilience matters because unexpected events can quickly become major setbacks when there is no financial buffer. A boiler breaking down, for example, is easier to manage when someone has savings, or access to affordable credit.

Loqbox aims to support resilience in two ways: by helping consumers build a pot of savings, sometimes for the first time in their lives, and by increasing access to credit responsibly.

Building financial capability

Capability is the combination of the knowledge, skills, attitudes and motivations people need to manage their money effectively and make sound financial decisions.

Loqbox helps build capability by giving people accessible ways to develop positive financial habits, while helping them understand how credit and the wider financial system work.

Together, resilience and capability can give people greater confidence in managing their finances and making decisions about their financial future.

From restricted access to greater choice

For some Loqbox members, the challenge is not an absolute lack of access to financial products. They may be able to obtain credit, but the products available to them may come with terms, conditions, or at a cost that does not work well for their circumstances.

We therefore think about financial inclusion not simply as moving people from excluded to included, but as helping people move towards better, more appropriate financial choices: the right products, at the right price, at the right time for the individual.

As this Impact Report will show, Loqbox puts this approach into practice by helping members build financial resilience, capability and confidence, providing a route into, or sometimes a way back into, a financial system in which they may previously have felt excluded or constrained.