You are here: cherry > Press releases for November 2010 > MoneySave Financial Solutions appoints Matt McKenning as Operations Director

24 November 2010

New Service launched to tackle Financial Exclusion MoneySave Financial Solutions, the UK’s first web and telephone based gateway to financial products and advice specifically for people with current or historical debt problems, has appointed Matt McKenning to head the business as Operations Director. With financial exclusion gaining Government attention through an independent review of UK Poverty, and the Financial Inclusion Taskforce, MoneySave’s products and services are designed to complement the debt management solutions offered by sister companies Atlantic Financial Management and EuroDebt Financial Services under The Pentagon Group umbrella. Pentagon has established over 370,000 payment plans with creditors and is currently helping over 26,500 individuals in financial difficulty. It has a strong track record of working with creditors to freeze interest and charges. Bringing over 26 years experience in the financial services sector, most recently with Secure Trust Bank as Head of Financial Services, Matt has been appointed to develop the MoneySave proposition by building relationships with insurers, financial services providers and utilities comparison companies. The aim is to provide a portal to a wide range of competitive products and services – from contents insurance to bank accounts – specifically for those in danger of financial exclusion. Currently, in the UK, around 1.5 million adults do not have access to a bank account; 7.8 million people in the UK are unable to access mainstream credit; and people on benefits borrow an estimated £330 million a year on home credit, paying £140 million in interest.* Matt McKenning comments: “This is a fantastic opportunity to develop a really powerful proposition for those either facing financial difficulties or already with debt problems who may be struggling to find the right essential products to meet their household. MoneySave aims to build on the expertise within the Pentagon group of businesses to provide a one-stop shop of products and services supported by regulated financial advice, specifically designed for those who may have an impaired credit rating or are currently in a debt solution, like a Debt Management Plan (DMP), an IVA or even subject to bankruptcy proceedings. It is really designed to help families both access and save money on large and essential household expenditure items such as mortgages, insurances, energy/fuel and banking costs. It will also give the self-employed and small business owners access to competitive commercial products. We also offer a benefits review to assist in maximising income.” MoneySave Financial Solutions provides comparative quotes for Mortgages, Prepaid Bank Accounts, Home, Motor and Pet insurance, Life, Accident and Sickness and Unemployment Income Protection cover, along with Business Insurance. MoneySave also provides access to Funeral plans. The products are supported by regulated financial advice from MoneySave’s team of financial advisors. MoneySave is also licensed to provide debt advice. Matt McKenning continues: “When people get into financial difficulty, the temptation is to cut back on what they see as unnecessary expenses such as insurance premiums for contents cover or for car insurance. But in many instances this leaves them even more vulnerable to financial loss. MoneySave Financial Solutions provides access to the basic products and services to keep individuals covered and able to get on with their lives, in an affordable way.” Ends

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