Aro, the UK-based embedded finance partner for brands, has partnered with personal finance app, TotallyMoney, to bring personalised credit matching capabilities to secured loan customers.
Thanks to the new partnership with Aro, TotallyMoney can offer customers a greater choice of loan products, with some offering 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.
Andrew Fisher, chief growth officer at Aro, said: “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.”
As part of the new agreement, Aro will be responsible for delivering secured loan 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.
Increasing access to affordable loans
The new Aro and TotallyMoney partnership is now live and available to customers through the TotallyMoney website and mobile app. Customers can immediately experience streamlined borrowing journeys and improved offers through data-driven insight and consumer engagement, ensuring all customers also receive the best possible outcomes.
Alastair Douglas, CEO of TotallyMoney, also commented: “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.”
