Fair Money Advice and Elifinty to transform debt advice service in the UK
By Megha Bhattacharya
London-based FinTech Elifinty today announced a partnership with a debt advice charity Fair Money Advice with an aim to deliver enhanced financial services and debt advice for people in the UK. The collaboration is expected to help consumers detect signs of money problems, understand their rights, and empower them to negotiate fairer repayment plans.
Muna Yassin, Managing Director of Fair Money Advice said, “We are delighted to partner with Elifinty in this ground-breaking partnership. We want to help bring debt advice services and client experience into the digital age. Our focus will be to improve client outcomes and increase the availability of, and access to, the free debt advice sector. A key component of these objectives will be to ensure advisers are able to take advantage of the technology available to them to maintain high-quality advice services.”
“The financial uncertainty and difficulty that the COVID-19 pandemic has unleashed on communities has demonstrated the need for us all to work collaboratively to find effective solutions and we’re keen to start this process”.
Elifinty is a FinTech-for-good offering artificial intelligence-powered business digitalisation solutions that enable consumer financial wellbeing to credit providers, third-sector debt advice providers and household billers. Elifinty aims to redefine financial aftercare for the masses and improve financial wellbeing.
Maysam Rizvi, CEO and founder of Elifinty said, “We are very excited to partner with Fair Money Advice, to provide UK’s debt advice sector with enabling digital technology to join the dots through the consumer debt advice journey, streamline clunky case management work and create more capacity from pre-advice to post solution care. We will make it easier for consumers to find high quality, free regulated debt advice and help them on a path to break free from debts they can’t afford and start saving for a secure future.”
Fair Money Advice (FMA) is a London-based specialist debt advice Charity. It offers specialist free money and debt advice services to communities in London. FMA focuses on providing bespoke one-to-one support to some of the most vulnerable in society; helping them to manage financial distress, manage multiple debts, and work towards financial wellbeing and resilience.
IBSi Daily News Analysis
February 28, 2024
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