Financial wellness fintech Elifinty launches in UK
Financial wellness fintech Elifinty has launched in the UK, aiming to tackle people’s debts and help build a “sustainable relationship” with their finances across two platforms.
Elifinity CEO Maysam Rizvi
The “socially conscious” debt management platform is aimed at both consumers and creditors and will leverage AI and open data to help people manage their cost of living, provide spend management tools and offer a direct connection between creditors and debt advisors.
In partnership with Impact on Urban Health, Elifinty has initially rolled out its end-to-end consumer debt management platform EliHUB in the London borough of Southwark and Lambeth, and will soon welcome all UK consumers to its platform.
Banks, utility providers, housing associations and other creditors can access TrustConnect, Elifinty’s platform dedicated to connecting businesses with their customers, and customers with the support they need.
Elifinty says the debt management market is fragmented, which means the landscape is difficult to navigate for both consumers and creditors.
Currently, consumer debts take an average of two years to clear, Elifinty says, due to a disconnect between the services offered by the debt management market and consumer’s needs.
Elifinty CEO Maysam Rizvi says: “We have used open banking to make it easy for people to get an online bank account, the best mortgage deal or a loan in a matter of minutes – why not use open banking to give people fast and tailored financial advice too?”
“We also provide businesses such as utility providers, housing associations and banks with access to open data, so they make an informed and direct connection to their customers and offer debt management support that works for them,” Rizvi says.
