JPMorgan Chase commits £250,000 to Fair4All Finance to expand access to financial support

This funding will help Fair4All Finance and partner Lightning Reach support more people in financially vulnerable circumstances to access available unclaimed funding and other financial support measures

We’re pleased to announce a further £250k philanthropic commitment from JPMorgan Chase to help connect communities struggling with the cost of living crisis with the financial support they need.

This new investment will enable us to expand access to our partner Lightning Reach’s digital platform, to help make it quicker and easier for more people find out whether they’ve applied for every grant or support scheme they’re eligible for.

• Increase the number of schemes available for digital matching with customers to include most of the local authority, charitable and organisational grants nationally
• Onboard more organisations to manage their grant application through the platform, allowing them to create efficiencies and provide ease of application and approval process for customers
• Enable new functionality that will give referral partners such as advice agencies and support workers the ability to search for and apply for grants on behalf of their beneficiaries. This will allow them to reach digitally excluded clients, broadening access while enabling partners to save hours of work on research and applications
• Use data to help inform impact for organisations and create a better customer experience

Our support for Lightning Reach builds on our wider cost of living response around income maximisation, aimed at increasing awareness of unclaimed benefits and to the many other financial supports available to people in vulnerable circumstances.  We are delighted that JPMorgan Chase shares our vision and look forward to working with Lightning Reach in delivering much-needed support to people across the UK.

‘We know that having access to appropriate tools and resources is key to helping individuals and communities improve their financial health. At a time when even more families in the UK are facing strains on their household finances, we’re pleased to support Fair4AllFinance in their work to make accessing said resources and aid easier and simpler for more people.’

Hang Ho, Head of International Philanthropy at JPMorgan Chase

’We’re delighted to receive this support from JPMorgan Chase. Our own segmentation research shows there are currently 17.5m people in financially vulnerable circumstances in the UK, with many already struggling to access affordable credit.

Tools like Lighting Reach’s platform help people maximise their income and can make all the difference to individuals’ financial wellbeing and be the difference between getting by or needing to seek out credit in the first place.’

Diana Kamil, Head of Engagement at Fair4All Finance

Lightning Reach have developed a digital proposition that aims to seamlessly connect people in financial hardship to the support they need, quickly and securely. They also help charities, local authorities, housing associations and other organisations providing grants or hardship schemes to improve their support delivery.

‘We’re really excited to be working with Fair4All Finance and JPMorgan Chase to expand our impact for people experiencing financial vulnerability, as well as the organisations supporting them.

Since we launched the Lightning Reach portal just over a year ago we’ve facilitated over £4m in funding to individuals in vulnerable circumstances, and we’re keen to grow this significantly over the course of the year so that as many people get the support they need amidst the cost of living crisis.

The funding for this project will be invaluable in further developing the Lightning Reach portal as a one-stop solution for access to support, streamlining the experience for both individuals and organisations – while launching new functionality such as support worker accounts to ensure those facing digital barriers are not left behind.’

Ren Yi Hooi, Founder at Lightning Reach

This investment aligns with JPMorgan Chase’s broader commitment to advance the financial health of low-to moderate-income and other underserved communities around the world. Helping individuals build their financial resilience and access innovative new tools and services is key to building an a more inclusive and sustainable economy.