Aro, the UK’s go-to embedded finance partner for brands, has announced its partnership with personal finance app, TotallyMoney to bring personalised credit matching capabilities to secured loan customers.
With the new partnership, TotallyMoney customers will be empowered with greater choice when it comes to selecting loan products, whether that’s with more flexible terms, lower interest rates or values that align with their financial goals. The new personal credit matching capabilities will also open up the lending playing field for the UK’s 23 million under-served adults, providing greater opportunities for those looking to improve their financial stability.
As part of the new agreement, Aro will be responsible for delivering secured loans advice and guidance to TotallyMoney customers. Through its intelligent decisioning platform, Aro improves the possibility of customers securing the financing they need in the most accessible way, while maintaining transparency and openness around what is possible depending on their individual needs and circumstances. With access to the full secured loan market, Aro’s knowledge and experience will directly match consumers with the most appropriate lending products.
The new Aro and TotallyMoney partnership is now live and available to customers through the TotallyMoney website and mobile app. Now, customers can experience streamlined borrowing journeys and improved offers through data driven insight and consumer engagement, ensuring all customers are receiving the best possible outcomes.
Andrew Fisher, Chief Growth Officer, Aro, explains: “This new partnership represents an important moment for Aro and TotallyMoney’s customer base. Through it, we’re enabling greater financial freedoms for UK consumers. The secured loan market is a pivotal lifeline for consumers, empowering them to better manage their finances and free up more of their disposable income. By supporting TotallyMoney on its goal to adopt data-driven insights and innovation, we’ll be educating consumers on the power of secured loans and the benefits these can bring to their long-term financial health.”
Alastair Douglas, CEO of TotallyMoney, comments: “We’re excited to announce our new, partnership with Aro, extending our expert credit matching capabilities, and giving millions of TotallyMoney customers the opportunity to unlock new, personalised borrowing options.
“Over the past few years, we’ve seen rising rates, and a contraction in the market, with banks watering down offers and restricting who they lend to. And this, along with the rising cost of living, means many have struggled to make ends meet, or keep up with regular commitments. But now, eligible homeowners can access affordable loans, even if they have a not-so-perfect credit score — allowing them to save money with debt consolidation or cover other expenses.
“Aro was the stand-out partner during the selection process, and with values aligned with our own, we look forward to making people’s data work for them, not against them. That way, everyone can unlock a life of more choices.”
With more lenders entering the market, customers will benefit from increased choices and competition. Interbridge Mortgages’ innovative offerings and streamlined application processes are expected to help find a financial solution for a diverse range of clients.
About Aro
Aro is the UK’s go-to embedded finance partner, largest consumer lending marketplace and one of the nation’s leading second-charge mortgage brokers. The fintech’s data-driven platform delivers personal credit solutions 24-7. It accurately matches customers to exactly the right credit products for their needs, giving them the power to take control of their finances.
Aro is partnered with some of the UK’s biggest brands, including Argos, Asda Money, BNP Paribas, TSB and V12 Retail Finance. Aro’s embedded finance partners can give their customers access to the UK’s largest lending marketplace, as well as get a better understanding of their customers through Aro’s enhanced data capabilities.
About TotallyMoney
We’re putting more than five million customers in control of their open banking and credit report data, so it works for them, not against them. We’re doing this with personalised plans, products and insights to help everyone unlock a life of more choices.
In 2022, we published a report with PwC which found that 20m adults were overlooked by the financial services industry, having grown by 50% in just six years. As a result of the cost of living crisis, we believe this population has continued to grow, and has now reached 23 million. These are the people we’re focused on supporting and building a free personal finance app for.
On average, people log into our app more than four times per month, and 60% of customers with a poor credit score see an increase in the first six months. By enabling banks to use open banking data to base lending decisions, customers can see more offers at better rates. And we’re rated ‘excellent’ on Trustpilot.
We’re regulated by the FCA, and are recognised by Best Companies as one of the top 10 Financial Service Companies to Work For in the UK. We believe that being a great place to work is key to doing our best work, with the ultimate winners being our customers.
