Public Funding for Moneymatix Ltd

The problem of financial exclusion is recognised by the government and increasingly reflected in the regulatory requirements for banks and other financial service providers to provide financial services for all, for example the FCA's "Consumer Duty". Financial-exclusion creates low-resilience, damaging the UK economy through stunting entrepreneurism, and increasing unemployment, social-security and healthcare costs. It blights the lives of millions of UK citizens through exclusion from financial-services (causing e.g. excessive payments on car-breakdown loans, or inability to access appropriate skills-training loans). Factors sustaining financial-exclusion Include lack of credit-history and cultural aspects. MoneyMatix will provide a fintech-bridge that closes the information-gap between financially-excluded individuals and financial service providers, thereby enabling users to benefit from the wide portfolio and economies-of-scale of mainstream financial service providers. The venture not only improves the wellbeing of individuals, it also benefits the UK economy, including: * enabling the use of appropriate loans for career-skills training, thereby increasing UK productivity, allowing access to improved salaries and creating new HMRC income-tax revenues * creating new jobs, 260 fintech posts * growth in UK tax revenues from increased employment and productivity * strengthening the UK's globally-leading fintech sector Regionally it strengthens Scotland's fintech sector. The venture is supported by volunteer expert advisors including from leading charities and from financial service-providers.