UK banking group NatWest recently announced the rollout of its Citizens Advice Service. According to NatWest, the service was created to identify and tackle the root cause of a relational, environmental, or social vulnerability, before it turns into financial difficulty. While sharing more details about the service, Alison Rose, CEO of NatWest, stated:
“A core part of improving financial capability is the ability to intervene at an early stage when someone is first experiencing difficulty. This new expanded provision will enable us to more quickly and accurately provide tangible support to those who most need it. Financial capability and vulnerability are often interconnected in complex ways, so this programme enables us to offer more rounded support – a key aspect of our purpose as a bank.”
Alistair Cromwell, Acting Chief Executive of Citizens Advice, also commented:
“When someone is experiencing financial trouble, getting early and expert advice can make a real difference. Problems are often complicated, involving lots of different agencies or organisations. Citizens Advice’s experts are trained to help people navigate this difficult landscape. That’s why we’re delighted to be working with Natwest to expand this programme. By working so closely together, we’ll be able to reach more people and give them the advice that they need as soon as possible.”
NatWest then added it will work with Citizens Advice to review and evaluate the ways in which customers in vulnerable situations use the new service. Initial findings will be reported at six months, with a full evaluation after twelve months to ensure the best possible support is being provided to people facing financial difficulty.