To assist prospects handle their funds, Santander has in the present day launched two new instruments on its Monetary Help Hub, a Price range Calculator and Monetary Well being Test.
The Monetary Well being Test is a private overview of shoppers’ funds through a free, on-line questionnaire which takes lower than 5 minutes to finish. Questions embrace the quantity of borrowing a buyer has, any repayments they is perhaps behind on, any financial savings they could have or budgeting instruments they could use. The software then calculates their general monetary well being and gives tailor-made solutions and assist, depending on the shopper’s scenario. This might embrace how you can minimize family payments and hyperlinks to exterior suppliers for additional assist.
The Price range Calculator permits prospects to see their incomings and outgoings in a single place, and to get tips about saving cash. Clients enter their revenue, spending by class e.g. mortgage or lease, vitality payments, insurance coverage, meals procuring in addition to spend on leisure, transport and so forth. The software then calculates the whole outgoings and gives a useful chart to point out the proportion of their revenue spent per class.
Josie Clapham, Director of Monetary Help at Santander commented: “We wish to give our prospects the sensible instruments and useful recommendation they should perceive their incomings and outgoings every month and the place their spend goes. Households are going through some actually tough selections over the subsequent few months about how greatest to handle their cash with the price of residing impacting on a regular basis spending.
“Our new instruments supply prospects steerage and assist to assist them handle their funds and guarantee they’re making the appropriate monetary selections day-after-day. For anybody going through difficulties, we’d urge them to open up and discuss to us on the first indicators of cash worries so we will discover the most effective methods to assist them.”
Santander is proactively figuring out and contacting prospects who could also be experiencing monetary pressures on account of the will increase in the price of residing and has, to this point, contacted over two million prospects to supply them with assist and assist with managing their funds.