Social impact by numbers
Come back and check this page for our updated social impact figures every month! Since we started tracking in October 2020...
The total money saved to consumers in unfair loan terms and high upfront costs.
The total amount of ‘subprime’ and ‘thin filed’ consumers we’ve helped approve on fairer terms
The amount of money we save per consumer in unfair interest rates and upfront fees.
The biggest challenge facing financial qualification
Making financial products much more accessible to ‘credit invisible’ profiles.
There are currently around 5 million UK consumers who are currently rejected by Credit Referencing Agencies (CRAs) due to the slightly more complex nature of their financial history.
Students, international consumers coming to work in the UK, the self-employed, the thin-filed, and the high-net-worth individuals can all struggle to gain access to financial products as a result of reliance upon legacy credit checking systems. CRAs don’t have the technology to be able to accurately assess the risk of these consumers. Many of these profiles have to either go without or accept higher risk, higher APR or less secure credit terms.
We aim to give every person equal opportunity to access products based on their true abilities. We’re a tech-for-good company that believes in fair and equal access to finance. We firmly believe that only by assessing disadvantaged financial backgrounds based on their true creditworthiness and transactional ability, regardless of a missing or poor UK credit file, we can create a frictionless international economy.
As harbingers of referencing technology that has already made visible tens of thousands of consumers who are discounted by current (yet still archaic) referencing processes, we see it as our economic and ethical responsibility to ensure our growth is centred around making it easier for consumers to put a roof over their heads, pay their bills and enrich their lives how they see fit.
Homeppl has become the foremost fraud prevention agency in the UK rental market.
However, we’re not only spearheading the fight against the growing threat of application fraud in the rental industry but also driving a spear through the systemically sloppy practices involved with tenant referencing and redefining its value by offering letting agents and landlords a true digital dossier on their tenants with unfailing accuracy. All whilst offering disadvantaged renters a seat at the table.