BNPL company Zilch, which is based in London, has reached an agreement on cooperation with a charitable organization StepChange, which specializes in providing consulting services on issues related to debt management.
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As part of this partnership, the BNPL firm integrates a set of consulting tools of a charitable organization into its platform. The set of tools is called StepChange Direct. Zilch stated that the implementation of the partnership agreement will allow it to take a step forward in its development and introduce innovative solutions that will improve the quality of customer service.
The parties to the cooperation defined the concept of joint activity in terms of its effectiveness against the background of the current conditions of the cost of living crisis, which has become a painful economic circumstance for many residents of the UK. Current and potential customers of Zilch, due to unfavorable global processes that have provoked financial stress, need help.
The StepChange team will carefully study the current strategy of Zilch’s activities in order to identify possible shortcomings. The result of this work will be a more efficient algorithm for providing debt advice.
Zilch will send financial contributions to StepChange through the fair share financing mechanism. These actions will strengthen the stability of the charity organization.
Philip Belamant, CEO of Zilch, called this cooperation natural and obvious. He noted that any responsible lender should strive to interact with organizations that help people in difficult times. The head of the company also said that the announced cooperation will provide the best support to customers who, due to certain reasons, delay payments.
Zilch was founded in 2018. At the initial stage of activity, the firm followed the goal of getting rid of all the disadvantages of standard lending. The company’s ideology is that payment methods should be simple, transparent, and fair.
As we have reported earlier, BharatX Partners Snitch for BNPL Services.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
