The 2025 Fintech Pledge has successfully fulfilled its campaign objective to help millions of UK consumers strengthen their ability to withstand an economic shock.
Launched by Zopa Bank and ClearScore in September 2022, the now 50-strong industry coalition first pledged to drive 10 million consumer actions by 2025 that build up the financial resilience of UK consumers.
The 10 millionth action was completed last month, 24 months before the campaign’s end date of December 2025.
The Pledge has achieved this by incentivising unprecedented cross-industry collaboration and by connecting consumers to financial technology platforms that a) make savings work harder, b) improve credit scores, c) consolidate debt, and d) lower utility bills and household outgoing costs.
Building on the coalition’s success, founding members have decided to extend the Pledge’s goal from 10 to 25 million actions to better deal with the persisting, above-target inflation. At an average of one action per person, its new goal represents approximately 50% of the UK adult population taking a positive step towards improved financial resilience.
The Pledge has also introduced a new “Benefits” pillar to help consumers make the most of the £18.7 billion income-related benefits and social tariffs that go unclaimed each year.
Jaidev Janardana, CEO of Zopa Bank said: “We’re thrilled with the progress of the 2025 Fintech Pledge to date, leading us to stretch our actions target so soon. Our success further emphasises that fintech businesses can achieve so much more when working together, as they look to understand and champion the real needs of UK consumers and to help them at such a critical time.”
Justin Basini, CEO and Co-founder of The ClearScore Group said: “It’s been incredibly rewarding to see the progress we’ve made with the 2025 Fintech Pledge, particularly with the way we’ve been able to support The Money Charity alongside our actions target. Our key focus going into 2024 is all about driving further collaboration and identifying these new Pledge leaders that will drive even more impact until the end of the campaign in 2025”.
The Pledge’s most important achievements to date include:
The coalition has amassed 50 members with a combined >25m customer base
It has achieved more than 10 million actions that improve financial resilience
Some 30% of its members are based outside London
The Money Charity is delivering a multi-year programme of workshops that markedly increases the financial capability of those who need it most, from 45 to 82% after completing the training
The content hub Master My Money (pledge2025.org/blog) and the Pledge’s TikTok campaign (@MasterMyMoney) are helping millions of consumers better understand and manage their money
A team of 90 Zopa Bank and Google Cloud engineers recently joined forces to build solutions that improve consumers’ financial resilience using Generative AI and Large Language Models
The Pledge earned its first industry accolade, winning “Best Partnership and Collaboration Initiative 2023” at the Pay 360 Awards
ClearScore and fellow Pledge member StepChange partnered to integrate the debt charity’s referral tool directly into ClearScore’s mobile app. In the partnership’s first year, >8,000 ClearScore users engaged with the tool, where 45% were recommended debt advice to help them find solutions to their debt problem.