With average household debt in Wales standing at £73m* there’s a long way to go to bring that figure down to pre-pandemic levels.
To help alleviate some of the financial pressures that have surfaced over the last five years, free-to-use platform Income and Expenditure Hub, (IE Hub) is proud to announce its partnership with Zopa Bank and its participation in the Fintech 2025 Pledge.
An ambitious industry programme led by Zopa and The Money Charity, the Pledge is a coalition between some of the UK’s biggest financial firms all dedicated to expanding access to better financial services for UK consumers.
With the aim to drive 10 million positive actions to improve financial resilience by 2025, IE Hub has already spotlighted over £80 million in additional annual income, translating to an average of £466 annually for each customer.
Moreover, seven out of 10 customers have discovered entitlements to added income and 35 per cent find they qualify for support schemes like WaterSure or Water Support tariff.
From the promotion of healthier saving and spending patterns to debt consolidation advice and broader financial education, the Pledge connects people with platforms to make savings work harder, improve credit scores and lower household outgoings.
Dylan Jones, CEO IE Hub, says: “We are delighted to be partnering with the 2025 Fintech Pledge to reach many more people and commit to helping with positive financial resilience and change – and this is this is why joining the pledge is such a fitting action for IE Hub.
“Our platform is aimed at positively building consumers’ financial resilience, and so being a part of a group of likeminded organisations who are striving to make such positive impacts is very rewarding.
“The programme aligns perfectly with our vision to assemble financial information and make positive lasting decisions and actions that will make a difference.”
This news is the latest in a string of announcements by IE Hub highlighting how it is supporting its customers and the industry. Recent partnerships include the link up with the charities Scope and Sebby’s Corner as well as Money Advice Scotland and Leeds Credit Union.