PayDashboard, the UK’s specialist payday experience company, has announced the launch of Moneysmart, a financial wellness marketplace that intelligently matches users to products and services designed to boost their financial capabilities.
It comes as the UK is facing an ever-growing debt crisis, which it was immersed in even prior to the pandemic. Money Advice Service estimated that 8.3 million people in the UK were over-indebted and that 22 per cent 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.
“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.”
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.
