PayDashboard, the UK’s number one payday experience company, has today announced the launch of Moneysmart, a financial wellness marketplace that intelligently matches users to products and services designed to make their money work harder.
Why financial wellness, why now?
The UK is facing an ever-growing debt crisis. Even prior to the pandemic, the Money Advice Service estimated that 8.3 million people in the UK were over-indebted, and that 22% of UK adults had less than £100 in savings. Further to this, a tenth of UK consumers have no savings at all. This leaves many financially vulnerable. Yet while money has become a number one cause of stress today, many people just do not have the time or energy to find the best financial deals, products and services. This can impact not only their financial but also mental health.
Who does it aim to help?
Moneysmart helps both consumers and SMBs have the confidence to make smarter financial decisions by seamlessly matching them with carefully chosen partners. With the right products and services at their fingertips, users will be able to save, spend and feel better about their financial health and wellbeing.
“As the UK’s leading provider of smart payslips, we’ve seen first-hand how important financial security has become. Not only to individuals’ physical and mental health, but also to small businesses and their ability to survive and grow,” said Mike Binns, CEO at PayDashboard.
“The COVID-19 crisis has only further compounded the challenges our customers are experiencing. Getting the most from your money nowadays can be difficult, confusing, and time-consuming. We wanted to change that. Today, we are excited to announce Moneysmart. Our aim is to make it really simple for both consumers and small businesses to find the best financial and wellness products out there, working with the best-of-breed partners, specifically chosen to help overcome some of today’s financial challenges.”
How does Moneysmart work?
Moneysmart works by asking you three simple questions based on your lifestyle, attitude to money and current circumstances. It then intelligently matches you with the right financial products, services and tools to help you explore offers and start saving in just a few clicks.
Our partners are all highly rated by their customers, value simplicity as much as we do, charge fairly, only use data to help customers meet their needs.
On the consumer side, partners include financial and wellness specialists such as Honcho - the world’s first reverse auction marketplace for financial services and Anorak - an independent online broker helping people protect their families with financial insurance products. Whilst on the business side partners include Brisk - a technology platform that automates risk monitoring for SMEs, and Sweep - an app that automates expense management for SMBs.
With Moneysmart, PayDashboard is hoping to improve financial wellness for everyone in the UK, starting with the almost 15,000 businesses and 400,000+ employees that receive and process its smart payslips each month.
Moneysmart partners available now: Honcho, Money Dashboard, Anorak, Auro, Perkwell, Level, Caxton Business, Brisk, Toro Solutions, TransferMate, Sweep.