Introduction
Intelligent Lending has made the announcement that it has completed a strategic acquisition of the fintech company TotallyMoney, which is a major provider of free credit reports and personal finance apps that are enabled with open banking. Along with CredAbility and Ocean, TotallyMoney will become a part of Intelligent Lending’s business operations, resulting in the establishment of a prominent provider of financial services in the United Kingdom.
Due to the acquisition, the group will expand to include 250 employees located in Manchester, London, Cyprus, and Italy, and it will also have a growing customer base of more than seven million satisfied customers. TotallyMoney will be positioned alongside the other brands that Intelligent Lending offers. The app that has won multiple awards will continue to assist its consumers in improving their financial well-being. The development comes at a time when Intelligent Lending is strengthening its proposition as the premier platform in the United Kingdom for transparent and reasonably priced financial products and services, and it also comes ahead of the group’s expansion into overseas markets. A new combined mission is to assist the underserved 23 million adults in the United Kingdom.
Intelligent Lending has made the announcement that it has acquired TotallyMoney, a fintech company that has won multiple awards and whose primary mission is to assist the 23 million adults in the United Kingdom who are financially underserved in unlocking a life with more options. A pioneer in the field of open banking and credit reporting, TotallyMoney is founded on the principle that individuals’ data ought to be used to their advantage rather than to their detriment. Additionally, the free finance app offers its users individualized insights, investment strategies, and product recommendations in order to assist them in establishing a positive financial momentum. Under the umbrella of Intelligent Lending, TotallyMoney, which is widely regarded as one of the most desirable places to work in the United Kingdom’s financial services industry, will be joining Ocean and CredAbility, two additional creative and market-leading organizations. Customers are going to reap the benefits of the combined expertise in areas such as data, technology, lending, and financial advising.
Ocean, which was founded in 1991, has become a well-known brand in the United Kingdom because it offers a variety of personal financial products to millions of customers. These products include credit cards, loans, and vehicle finance. CredAbility is an application that provides users with weekly updates and individualized coaching in order to assist them in better understanding and improving their credit ratings and overall financial well-being. It also provides consumers with a selection of financial solutions from a panel of more than sixty lenders that are tailored to their borrowing capacity in the most effective manner. The acquisition comes ahead of the group’s intentions to expand internationally, which are scheduled to begin this year. Several nations have already been identified as potential growth opportunities, and the acquisition comes before those plans.
Read: Fintech and Microfinance: Bridging the Gap for SMEs
Industry Comments
On the acquisition of TotallyMoney, Simon Kay, Chair of Intelligent Lending comments: “We’ve been super-impressed with the dedication of the team in developing cutting-edge technology that will complement the work we’re doing at CredAbility and Ocean. TotallyMoney’s mission is closely aligned with ours, and we look forward to helping even more people improve their financial wellbeing.”
Alastair Douglas, TotallyMoney CEO adds: “Joining Intelligent Lending signals the start of an exciting new chapter for TotallyMoney, our staff, and our customers. Having met the team, it’s clear that the culture and vision of Intelligent Lending fits very well with our own. “The other forward-thinking financial services businesses within the group have a real focus on supporting the UK’s 23 million financially under-served adults. And like us, they put their customers first, and use technology and data to help people manage their money and improve their financial future. “This comes at an important time, because while inflation has fallen drastically from its October 2022 peak, things are more difficult than ever for millions of households across the UK. So, helping people build their credit scores and clear debt by putting them in control of their own financial data is a real priority. “Our shared experience, insights, and expertise will provide great opportunities for collaboration and innovation, with our customers being the ultimate winners. We’re looking forward to kick-starting the next stage of growth for TotallyMoney, so we can make an even better and bigger positive impact on the lives of millions of financially underserved adults.”
FAQ 1: What does the acquisition of TotallyMoney mean for Intelligent Lending?
The acquisition of TotallyMoney marks a significant step in Intelligent Lending’s mission to provide fair and affordable financial products and services. TotallyMoney, an award-winning fintech, focuses on supporting the UK’s 23 million financially underserved adults with personalised insights, credit reports, and financial plans. By integrating with Intelligent Lending’s existing brands, Ocean and CredAbility, TotallyMoney will bring cutting-edge open banking technology to enhance customer financial wellbeing. This collaboration creates a stronger platform, combining data, technology, lending expertise, and financial advice to benefit over seven million customers across the UK. Additionally, the group is set to expand internationally, leveraging the shared strengths of its brands.
FAQ 2: How does TotallyMoney help its customers?
TotallyMoney empowers customers by providing free credit reports, personalized financial insights, and tailored product recommendations through its app. It leverages open banking technology to help users understand and improve their credit scores while managing their financial well-being. By focusing on helping customers take control of their financial data, TotallyMoney enables better decision-making, debt management, and long-term financial stability.
FAQ 3: What other businesses are part of Intelligent Lending, and what do they offer?
Intelligent Lending operates two other prominent brands: Ocean and CredAbility. Ocean, established in 1991, is a household name offering personal finance products, including credit cards, loans, and motor finance, to millions of UK consumers. CredAbility is an app designed to improve users’ financial well-being by providing credit score updates, tailored guidance, and access to financial solutions from a panel of over 60 lenders. Together with TotallyMoney, these brands form a comprehensive ecosystem to support customers’ financial health.
Conclusion
The acquisition of TotallyMoney by Intelligent Lending represents a transformative move toward improving the financial well-being of millions of UK adults. By combining the strengths of TotallyMoney, Ocean, and CredAbility, Intelligent Lending reinforces its position as a leader in fair and affordable financial products and services.
TotallyMoney’s innovative open banking technology and mission to empower the financially underserved align perfectly with Intelligent Lending’s values. Together, they aim to provide personalised credit solutions, improve financial literacy, and help customers build a stronger financial future. This partnership arrives at a crucial time, as households across the UK face ongoing financial challenges.
With a growing team of 250 staff across multiple countries and a shared customer base exceeding seven million, the combined expertise of these brands paves the way for meaningful innovation and collaboration. As Intelligent Lending prepares for international expansion, its commitment to leveraging technology and data to support underserved communities will remain at the heart of its strategy. This marks the beginning of an exciting new chapter for TotallyMoney and Intelligent Lending alike.
Thank you for exploring this journey with us! If you’d like to share your thoughts or join the discussion, please contact us at news@intentamplify.com.
Read: Fintech Marketing: Top 10 Power Strategies to Accelerate Growth
Thanks for reading!