Company: Gretel
Founder: Duncan Stevens
Website: https://www.gretel.co.uk/
About Gretel
Gretel is a fintech company on a mission to solve the issue of lost and dormant assets in the financial services sector and is now the most widely used dormant account service in the UK.
Gretel’s tech can help customers track down lost money in less than three minutes and then help them reclaim it. Uniquely, once a customer has signed up with Gretel, we will keep working for them to constantly look for lost monies and flag any new accounts as and when they are identified. Gretel is the only service built to cover the entire financial services industry and has won numerous awards for its innovation.
In the UK, over £86 billion is sitting lost and forgotten in savings accounts, pension schemes, investment accounts, Child Trust Funds, and more. This means millions of people have significant amounts of money that they are entitled to but are unaware of, or unable to access. At a time when people are under financial pressure, this is extremely concerning.
Gretel offers a simple solution to help people reclaim their assets. Consumers enter a few details into the platform and Gretel searches our extensive database, for free, to identify any accounts the individual may have become disconnected with.
The issue of lost and dormant assets is one that can affect us all – as we move through life and change jobs, move house, get married or divorced, it’s easy to lose track of accounts or forget to update financial services providers with new details.
Consumers are faced with an array of barriers relating to cost, complexity and miscommunication when it comes to tracking down lost accounts.
Gretel was created to help consumers overcome many of the barriers – such as industry complexity, paperwork and search costs – that have prevented them from keeping track of their hard-earned money.
In the development of the service, the Gretel team focused on speed and simplicity (as well as ensuring there is no cost to the consumer), to ensure that the service is accessible for the most vulnerable, to the most financially literate.
Gretel has also partnered with services such as charity StepChange and credit rating service, ClearScore, to reach out to vulnerable people and encourage them to search for lost money, investments, or pension schemes that they’re entitled to.
Since its foundation in 2020 and launch in April 2022, we have already matched £millions in lost assets with members of the public – providing a vital financial lifeline.
The platform combines cutting-edge technology and data processing with a clear mission to reunite people with their money as quickly as possible. Gretel unifies multiple data sources in a secure environment, using AI-enabled matching to provide the most comprehensive, simple and centralised process for consumers.
Aside from speed and simplicity, Gretel is the only service that covers the entire financial services industry, is free for consumers and will keep working for them to constantly look for lost monies and flag any new accounts as and when they are identified.
Gretel is the service the financial industry has needed for many years. Being driven by a single mission and utilising modern technology Gretel has experienced huge success in a very short period, with the potential to engage with those previously shut out of the financial services sector.
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