National initiative launched by Fintech Tully aims to help 17 million people in the UK who have been financially impacted by COVID-19

  • Open Banking , Personal Finance , Banking
  • 02.04.2020 11:08 am

Tully, Nottingham-based Fintech, has today announced the launch of their COVID-19 Relief and Wellbeing Network to help people financially impacted by the COVID crisis get access to payment relief. 

Tully is providing a ‘free to consumer’ digital outsourcing service that registers consumer applications, validates eligibility for payment relief and shares that information with relevant partners in the network. This service means that consumers don’t have to spend hours in call centre queues and instead can register for COVID-19 relief quickly and easily through a single online process.

As well as being hugely beneficial for consumers, this service also reduces the strain on contact centres meaning creditors can focus their telephony efforts on supporting their most vulnerable customers at the time of greatest need.

Tully continues to offer support throughout the crisis, using it’s digital financial wellness tools to drive engagement, ensuring they can provide consumers with the most appropriate support and help them return to normal post-crisis. Using Open Banking, Tully has access to over fifty of the UK’s leading banks and credit card providers including HSBC and Nationwide meaning over 95% of the UK can access the service online. The Tully platform builds on Open Banking data by engaging the consumer through conversation AI to understand their very latest financial situation.

Tully’s early partners include energy companies, banks, credit card companies and building societies. They have started directing customers and employees to the Tully COVID-19 website with expectations that over two million people will be reached within the first eight weeks of the service launching. One of those early partners, ClearScore, has already worked with Tully to help thousands of people on the path to regaining control over their finances. In the current climate, this has become all the more important, and ClearScore will be working closely with Tully to support people who are struggling with their finances as a result of COVID-19, helping them work out their personal budget, and get access to available payment relief.

To ensure the network can accommodate the growing numbers, Tully has support from its key technology partners Microsoft, Mailchimp and Intercom to scale and reach millions of people.

Chief Commercial Officer at OpenWrks Group (the team behind Tully), Steve Bradford comments:

“The launch of our COVID-19 Relief and Wellbeing Network, has been designed to ease the strain on our partners’ call centres and operations teams, whilst giving customers the support they need to help them make it through these uncertain times.”

“Our digital solution empowers customers to register for payment relief at the touch of a button using our Open Banking technology that’s trusted by leading banks, energy suppliers and The Money Advice and Pension Service. We anticipate that the Government and regulators will continue to support consumers with new policies around payment relief as the crisis continues. The central support service will feed information every day into partner creditors, enabling them to adapt their policies to align to new guidelines.”

Chief Product Officer at OpenWrks Group (the team behind Tully), Olly Betts added:

“Already, we are being supported by an incredible set of industry partners including FICO, Accenture and ClearScore to collaborate with as many creditors as possible to expand the network and help as many people as possible during this time of need. If you are a bank, credit card company, mortgage lender, energy supplier, water company, local council or Government department - our rallying call is to join our network and help your customers get the relief they need now and throughout the crisis. It is more important than ever to collaborate and give people the support to mitigate the financial impact of Coronavirus.”

About Tully and OpenWrks

Since the launch in March 2019, Tully has helped over 20,000 people that are worried about their money through referral partners and as a listed provider of digital support on the Government’s Money Advice and Pensions Service website.

Today, in the midst of the Coronavirus crisis, Tully is working with its partner network to help give people the support and payment relief they need. By working with people to understand how the Coronavirus crisis has changed their financial circumstances, Tully provides network partners with the information they need to offer the best payment relief and support to their customers so that no one has to choose between paying for heating or groceries during these scary and uncertain times.   

Tully is part of the OpenWrks Group, a leading provider of Open Banking applications, currently processing over 130million API calls each month and connects 500,000 bank accounts daily.

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