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Fintech solving the problem of ‘forgotten money’

Gretel finds £2.4 million in lost money in first week of new partnership with Foresters Financial

Gretel, the free online hub which reunites consumers with lost and dormant accounts, has announced new partnerships with ClearScore and Forester Financial as it continues to reunite people with their lost assets.

The partnership with ClearScore, a leading credit score app and marketplace, means 13 million people now have access to Gretel. This will help users track down lost savings and investments at no cost.

The partnership launched at the end of February and has already attracted thousands of Gretel searches, with ClearScore users finding over £2,200 in lost assets, on average.

The second partnership, with Foresters Financial, a leading provider of UK Child Trust Funds, matched over £2.4million with consumers in its first week.

In linking up with Foresters Financial, Gretel now covers half of the Child Trust Fund Market (with One Family being an existing partner). Foresters Financial is a mutual with over three million members, looking after over 1.2 million children’s savings plans.

Commenting on the new partnerships, Duncan Stevens, Chief Executive of Gretel said, “Our ultimate ambition is to help solve the longstanding issue of dormant assets in financial services. So many people have no idea that they have ‘forgotten’ money that could make a real difference to their lives. Collaborating with visionary companies enables us to get our message out there far more quickly, meaning many more people can benefit from our free service, and the results to date demonstrate just how impactful that can be.”

Partnerships such as those announced today are crucial in helping more people to reconnect with assets that have been lost or become dormant. According to Gretel, there are almost 21 million UK customer accounts, with a combined value of up to £78 billion that have been lost or forgotten by their rightful owners. A good example of where ‘fintech for good’ can make a meaningful impact on people’s lives.

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