Lloyds is scaling up its partnership with the monetary training platform MyPocketSkill, following a profitable first section that demonstrated a constructive affect on the saving habits of younger individuals.
The continued collaboration will present hundreds extra college students with entry to paid work and monetary training by MyPocketSkill’s ‘studying by incomes’ method. The transfer aligns with Lloyds’ strategic aim of enhancing the monetary functionality of Gen Z.
‘Studying by incomes’ method builds constructive cash habits
Knowledge from the primary section of the partnership confirmed that the MyPocketSkill platform, which connects younger individuals with paid work alternatives, helped them kind constructive monetary habits.
Lloyds scholar prospects who used MyPocketSkill had been 40 per cent extra more likely to have opened a financial savings account than those that had not signed as much as the platform. Moreover, after utilizing MyPocketSkill, these identical college students had thrice as a lot cash of their accounts as the typical scholar account holder.
The preliminary section, which kicked off in January 2025, concerned co-branded occasions at 4 main college campuses: UCL and UWL in London, Cardiff College, and Swansea College. Over 2,000 college students signed as much as the platform to entry paid work alternatives equivalent to tutoring, pictures, and social media administration.
“At a time when college students are feeling the monetary stress greater than ever, the information from the primary section of our partnership with Lloyds clearly confirmed that sensible experiences with cash assist develop constructive monetary habits,” mentioned Matthew Harker, co-founder and co-chief government officer of MyPocketSkill.
One 18-year-old scholar who signed up as a social media supervisor commented on the expertise: “These work alternatives have helped me when it comes to saving cash, when it comes to being extra money-minded… and it’s positively going to be a ability that I carry ahead sooner or later.”
Strengthening monetary wellbeing for extra UK college students
Constructing on this success, the subsequent section of the partnership will concentrate on increasing entry to the platform for extra Lloyds scholar account holders. It will embody a refer-a-friend marketing campaign and unique entry to paid duties and alternatives on the MyPocketSkill platform.
The collaboration is a part of Lloyds’ ‘Launch Innovation Programme’, a five-month programme designed to offer a structured method to partnering with fintechs to deal with strategic enterprise challenges.
Tamara van den Ban, propositions director at Lloyds, mentioned: “Our collaboration with MyPocketSkill aligns with our mission to assist college students in growing robust monetary abilities. We’ve seen actual engagement and affect and are excited to increase the programme to extra college students, combining incomes alternatives with impactful monetary training.”
Zara Ransley, co-chief government officer and co-founder of MyPocketSkill, added: “Persevering with our relationship with a trusted monetary providers supplier like Lloyds, with co-branded promotions throughout extra college campuses, will allow us to succeed in extra of the 13 million Gen Zs who’re crying out for each incomes alternatives and real-world monetary training.”
MyPocketSkill, which has over 200,000 signed-up customers, permits 13-25 12 months olds to ‘Earn, Save, Make investments and Be taught’ about cash, supported by behavioural science.
