UK digital financial institution Chetwood Monetary has at present introduced a brand new partnership with parenting discussion board Mumsnet, with plans to launch a brand new family-focused monetary providers proposition subsequent yr.
Since buying a full banking licence again in 2018, Chetwood has targeted on creating disruptive monetary merchandise for underserved segments of the market. The latest acquisition of core banking supplier Yobota means the corporate has even better alternatives to assist revolutionary monetary choices via its best-in-class Banking-as-a-Service (BaaS) mannequin.
Beneath the brand new partnership with Mumsnet, Wrexham-based Chetwood will present the regulation, know-how and infrastructure to launch revolutionary merchandise that remedy a number of the monetary dilemmas that folks, notably moms, face within the present financial panorama.
The announcement follows a fringe panel dialogue at this yr’s Labour Social gathering Convention, which was hosted by Mumsnet and Chetwood. It was titled “How can we remedy the childcare disaster?” and featured Helen Hayes MP alongside representatives from Save the Youngsters and Gingerbread, a charity supporting single dad and mom.
Julia McColl, Chief Product Officer, Chetwood Monetary, mentioned: “We’re thrilled to announce our new partnership with Mumsnet. Mother and father face important monetary pressures, whether or not it’s a dip in earnings whereas on maternity go away, the rising price of childcare, or a pointy uptick in the price of dwelling.
We’re working with Mumsnet members to co-create merchandise and instruments that work to alleviate a number of the challenges they face. Chetwood is proud to be working with Mumsnet to make this a actuality.”
Justine Roberts, Founder and CEO, Mumsnet, added: “We all know from Mumsnet’s customers that the rising price of dwelling is affecting dad and mom throughout the board. As hovering prices make the problem of juggling household funds even tougher, we’re delighted to be working with Chetwood to assist us fulfil our mission to make dad and mom’ lives simpler.”