FairQuid

Financial Wellbeing Exchange

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Target Funding

€ 1,700,000

FairQuid is a Financial Wellbeing Exchange.

Access and cost of financial products is often denied or is exorbitant for people whose need is the most.
Current models of pricing and evaluation, rely solely on the past of an individual. We felt there was a way to layer that view with a current and future reliability assessment, through an employee’s place of work, by allowing them to use their length of service and performance as a credit currency. A proxy for traditional measures. Added to this an absence of savings, for the majority of UK adults, means it can very often be a vicious cycle for many, who are in debt or living paycheque to paycheque and unable to action any financial education delivered to them. Providing a ‘nudge’ and convenient actionable opt-ins, coupled with education, will result in long term behaviour change.

Credit Unions are, in our view, the original P2P AltFi providers who have not been as successful, thus far, in the UK when compared to markets like the USA or Ireland. We see a big opportunity available by intermediating between “Access & Cost” and “Lack of Savings” and through to the Credit Unions, for both savings and loans, using our unique technology platform and product and credit innovation.

Our platform is live today and has so far been used by over 20 Employers in the UK for the benefit of their 3000 workers

Contact Info

Website
www.fairquid.co.uk
Phone
No phone found
Contact Email
support@fairquid.co.uk
Facebook
https://www.facebook.com/FairQuid
LinkedIn
https://www.linkedin.com/company/fairquid
Twitter
https://twitter.com/FairQuid