Barclays has announced an investment of nearly £4 million in debt help charity StepChange.
The bank said the announcement builds on its longstanding partnership with and regular financial contributions to the charity, backing its digital transformation to help more people across the UK access free debt support sooner.
Barclays was a founding partner of StepChange when it launched.
StepChange’s research indicates that 51% of UK adults have experienced problem debt, but 44% of those affected tell no one.
Neil Gallimore, head of strategy, financial assistance and recoveries for Barclays UK, said: “By strengthening our longstanding partnership with StepChange and supporting its digital transformation, we’re helping more people get trusted, impartial debt advice earlier, when it can make the biggest difference.
“This partnership also aligns closely with our goal of helping people feel more confident managing their money, which we’re achieving not just by giving people the tools to manage their money day to day, but by ensuring expert support is there when life becomes harder.”
Vikki Brownridge, chief executive of StepChange, said: “Elevating our partnership with Barclays comes at a pivotal time as UK households face ongoing uncertainty with their finances and demand for debt advice grows.
“We know that early and effective access to free debt advice can make a huge difference, and this commitment from Barclays will be invaluable to fostering long-term good outcomes for people struggling with debt.”
