LOQBOX have partnered with Kroo in a bid to give UK customers more options to become financially included, for free.
Signing up to LOQBOX Save puts the power back in the consumer’s hands when it comes to building credit. Members decide the amount they can afford to save in a year (from £20 minimum monthly payments to £200 maximum) which is locked away in a LOQBOX. They pay off their digital token over 12 months, building a credit score as they go, whilst saving towards their desired target.
Once the year is up, the money saved is released into one of LOQBOX’s partner banks, completely free to LOQBOX members. Kroo is the latest partner to join forces with LOQBOX.
Kroo is building a powerful new UK bank to allow customers to easily participate in shared financial activity with each other and champion social causes that impact their world. Kroo has been built on a state-of-the-art agile technology platform that will provide a safe, secure and intuitively designed current account, from which a customer can navigate their financial lives.
Co-Founder and Co-CEO of LOQBOX Gregor Mowat commented: “When we learned about the launch of Kroo, we were really excited about their vision and goals which aligned with ours perfectly. Both LOQBOX and Kroo want to revolutionise people’s relationships with their money and we hope our members will be as excited as we are to have this additional choice at the end of their LOQBOX Save journey”.
Andrea De Gottardo, CEO of Kroo said: “We have been watching LOQBOX’s exciting developments as we have built Kroo and saw this partnership as a real opportunity to genuinely make a difference to people’s financial lives. Our vision has always been to change the relationship people have with money for good, and we firmly believe this new option for LOQBOX Save customers will help customers get more from their money, and spend more time doing what’s important in their lives”.
