Money Advice Service and Tech City UK Shine a Light on Fintech Excellence

Today, the Money Advice Service announces its support for the Tech City UK Competition, Fintech For All.

Tech City UK and the Money Advice Service are on the hunt for fintech start-ups to pitch ideas to develop digital approaches to financial capability, through money management tools for the most vulnerable in the community.

Fintech For All is an opportunity to showcase how innovation could contribute to help improve the financial capability of people in the UK.

David Haigh, UK Financial Capability Director for the Money Advice Service, said: “We are delighted to be working in association with Tech City UK to support this valuable venture.  A collective approach is needed to tackle issues that underpin stubbornly low levels of financial capability in the UK.

“Fintech has an increasingly important role in helping people manage their money day-to-day, and I am excited to see how tech entrepreneurs and investors will use apps and services to help people take control of their finances.”

In keeping with the strategic work being done to improve financial capability in the UK, and ultimately to improve financial wellbeing, the competition winners will be announced during the second Financial Capability Week, 13-19 November 2017.

Jonathan Hollow, Head of Corporate Strategy & Innovation for the Money Advice Service, and Fintech For All judge commented: “We believe some of the best fintech start-ups in the world are based here in the UK.  Some will revolutionise financial services.  We are extremely proud to support their ground-breaking work.

“We want to support winners with customer insight analysis, worth around £70k.  We’ll aim to evaluate the impact of their service on the financially excluded consumers they target using world-leading insight frameworks and standards.  This will provide them with detailed consumer insight and evidence that should help get more funding and backing for their product.”

Interested companies have until the 20 October 2017 to apply to the competition here.