UK digital bank Chetwood Financial has today announced a new partnership with parenting forum Mumsnet, with plans to launch a new family-focused financial services proposition next year.
Since acquiring a full banking licence back in 2018, Chetwood has focused on creating disruptive financial products for underserved segments of the market. The recent acquisition of core banking provider Yobota means the company has even greater opportunities to support innovative financial offerings through its best-in-class Banking-as-a-Service (BaaS) model.
Under the new partnership with Mumsnet, Wrexham-based Chetwood will provide the regulation, technology and infrastructure to launch innovative products that solve some of the financial dilemmas that parents, particularly mothers, face in the current economic landscape.
The announcement follows a fringe panel discussion at this year’s Labour Party Conference, which was hosted by Mumsnet and Chetwood. It was titled “How can we solve the childcare crisis?” and featured Helen Hayes MP alongside representatives from Save the Children and Gingerbread, a charity supporting single parents.
Julia McColl, Chief Product Officer, Chetwood Financial, said: “We’re thrilled to announce our new partnership with Mumsnet. Parents face significant financial pressures, whether it’s a dip in income while on maternity leave, the rising cost of childcare, or a sharp uptick in the cost of living.
We’re working with Mumsnet members to co-create products and tools that work to relieve some of the challenges they face. Chetwood is proud to be working with Mumsnet to make this a reality.”
Justine Roberts, Founder and CEO, Mumsnet, added: “We know from Mumsnet’s users that the increasing cost of living is affecting parents across the board. As soaring costs make the challenge of juggling family finances even harder, we’re delighted to be working with Chetwood to help us fulfil our mission to make parents’ lives easier.”