Invest in Us, Invest in Impact
As a not-for-profit organisation we rely on impact investment to pay for some of the extra things we do to support our customers. Without this we would have to pass the total cost of inclusion on to our customers.
We also continually raise funds for lending capital to ensure we can continue to lend to those that need us most and reduce the risk of them going to illegal money lenders.
Below are the current opportunities where your investment could make a big impact on increasing the financial resilience of low income households in the UK.
VRP – a new flexible way to pay
Many customers are financially excluded due to their financial lives not fitting with how the financial system is set up – it currently works best for people that can make consistent monthly payments for products and services such as utilities, insurance, council tax, rent or loan repayments. Only offering monthly payment options often sets people up for failure and they then miss payments and become ‘bad’ customers. At Moneyline, we believe that offering a payment system that works for customers will mean more customers can gain access to standard products and services, helping the customer and facilitating growth in product and service providers.
Moneyline has been piloting VRP, a new flexible way to pay, since February 2024 and this pilot will run until 2026, gaining insight and learnings from targeted customer groups, all of which are financially excluded and generally classed as vulnerable.
Why Invest in Us? – Investment means we can increase our pilot findings. If you are an organisation that works directly with customers, by using our learnings on VRP you can save costs on research and resources. You will be able to go to market more quickly by using insights which are already available, enabling you to offer your products and services to those you may currently exclude.
MoneyToolkit – for when a loan isn’t right
Like most lenders, we are seeing more and more people applying for a loan and being declined as it is not the right solution for them. For many of these applicants, signposting to other lenders or advice agencies doesn’t help their situation.
In partnership with InBest we have designed a digital journey that offers more tailored support to declined applicants. We built this in the FCA Financial Inclusion Tech Sprint and won their Eureka award for the best idea. But it’s not just about what the FCA think, our customers loved it too and it really improved the outcomes for those who were at risk of going to very high-cost credit or even loan sharks without an intervention that took away the urgent need for cash.
Why Invest in MoneyToolkit? – Investing in us will help us take this solution to market. The need for cash does not go away when a customer is declined when the need is for something essential. We know that more and more people are turning to loan sharks to solve their cash problems. Investing in the MoneyToolkit means lenders can offer a solution that can make a real difference to a declined applicant’s situation.
We have a dedicated team to help customers that need help in growing their digital confidence. We know that once we spend the time with a customer helping them on a digital journey, it helps them gain overall digital confidence.
Improving options for those most excluded
We have a dedicated team to help those that need help in growing their digital confidence. We know that once we spend the time with a customer helping them on a digital journey, it helps them with us but also gain overall digital confidence.
However, for some of the most financially excluded customers, only offering a digital solution will never be the right answer. This is why customers can phone us and why we are also growing our face-to-face presence in the most deprived areas, working with housing associations and advice agencies.
Another area of focus is working with a challenger CRA to help those with bad or thin credit files be more included in the future. We are committed to being part of helping systemic change in the UK overall and not just for our customers.
Why invest in us? – Our focus and desire to support the financial inclusion agenda in the UK means that your investment can make a big impact for individuals and the wider system.
Growing our lending capital
Access to lending capital in the UK is very challenging in the current climate. We need access to more patient lending capital to support our long-term growth strategy and ensure we can fill some of the supply gap for small loans, which is large and still growing!
Why invest in us? – Over the last 10 years there has been a huge reduction in supply of small loans in the UK market but demand has not gone away and will not go away. Only by growing the affordable credit sector can we stop the growing issue of people going to illegal money lenders and for that we need more capital.
Want to find out more about any of the above? Contact Shiona, our CEO on shiona@moneyline-uk.com.
Moneyline… we're more than a loan
