SteadyPay + Pockit = A Success Story in Financial Inclusion
We sat down with Pockit’s CEO, Virraj Jatani, and COO, Garreth Griffith to discuss our recent partnership to provide financial services for underserved and low-income consumers in the UK. Check out the interview below to discover what a partnership with SteadyPay looks like!
Watch the video interview here:
Interview with Virraj Jatani, CEO of Pockit
Q: Can you share Pockit’s mission and how the partnership with SteadyPay aligns with it?
Virraj Jatani: Pockit is focused on providing financial services to underserved and low-income consumers in the UK. We've partnered with SteadyPay to deliver two of our key products. One is around allowing customers to get a small advance against their income, and the second is around helping them to build their credit score and credit history.
Q: What was your initial impression of SteadyPay, and how has that evolved?
Virraj Jatani: I think for us, it was refreshing from that first meeting to come across a consumer lending business that was innovative and keen to partner, which we'd not seen in many of the other consumer lending businesses that we'd spoken to. Most of them wanted to have just referral type propositions as opposed to doing something more integrated, which is something that we felt there was a desire from day one to do from the SteadyPay perspective as well as from our perspective.
Q: How has the collaboration with SteadyPay been?
Virraj Jatani: From our perspective, I think we've seen great engagement from the SteadyPay team to want to build this product together. We've seen a very collaborative and collegiate approach, which is foundational to any partnership working. As a result of that and the success that we've had so far to date with the product launches, there are now a number of other product opportunities we're exploring and discussing, and we think it could be a good strong long-term partnership here. SteadyPay is a great partner for us, and we definitely recommend them.
Interview with Pockit’s COO, Garreth Griffith
Q: Can you elaborate on the products that Pockit has been able to offer through this partnership?
Garreth Griffith: Here at Pockit, what we're trying to do is help people who struggle to get financially included. We provide fundamentally a digital account. Sort code, account number, they can receive money and send money. The partnership with SteadyPay has allowed us to provide products to our customers that they've been asking us for. An income advance product and a credit builder product, which we call fast-track to credit.
Q: What has been the customer response to these new products?
Garreth Griffith: We've seen great customer fit reflected in high approval rates for the SteadyPay-enabled products that we provide. We found SteadyPay great to work with, and customers clearly find a fit there, so definitely recommend SteadyPay as a partner.
A Bright Future Ahead
The collaboration between SteadyPay and Pockit stands as a testament to what can be achieved when innovative companies come together with a shared mission. By providing income advance and credit-building products, we are not only meeting the immediate needs of Pockit's customers but also laying the groundwork for their long-term financial stability and growth.
We are excited about the future of this partnership and the potential to develop even more products that can make a difference in people's lives. Together, SteadyPay and Pockit are committed to driving financial inclusion and creating opportunities for all.
Stay tuned for more updates as we continue to innovate and expand our offerings. For more information on our partnership and products, visit our website or follow us on LinkedIn.