Embedded finance provider Aro has partnered with personal finance app TotallyMoney to bring personalised credit matching capabilities to secured loan customers.
TotallyMoney customers will be given greater choice when it comes to selecting loan products, while personal credit matching capabilities aim to open up the lending playing field for 23 million under-served adults.
Aro will be responsible for delivering secured loans advice and guidance to TotallyMoney customers.
The new Aro and TotallyMoney partnership is now live and available to customers through the TotallyMoney website and mobile app.
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.”
Alastair Douglas, CEO of TotallyMoney, said: “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.”
