Nottingham fintech start-up receives FCA backing

Stuart Bungay

A Nottingham fintech firm has received a license from the FCA that will help it roll-out its digital debt advice service.

Tully says its mission is to “improve financial capability and make financial support more accessible”.

Built on an Open Banking platform provided by technology business OpenWrks, Tully says it aims to change how people think about, understand and manage their money and debts.

Stuart Bungay, chief executive and co-founder of Tully, said: “Our focus at Tully is to help people regain control of their money and move towards a more stable financial future. Receiving our FCA license is a huge milestone in allowing us to make that a reality.

“Since day one the FCA have been overwhelmingly supportive of our vision and understand the desperate need for the type of technology-driven solution we’re creating with Tully. Demand for debt advice continues to grow and we believe digital channels have a key role to play in helping improve access to the debt advice and financial support millions of people need today.

“We already have a wide range of large corporate clients ready to start helping improve the financial lives of their own customers through Tully. Being granted our FCA license means we can start rolling out these partnerships in the coming months and begin delivering meaningful support to their millions of customers.”

The Tully team says it will begin rolling out services to users through a number of partners across banking, energy and local government throughout 2019.