FOR IMMEDIATE RELEASE

LOQBOX AND CLEARSCORE LAUNCH WORLD!S FIRST APP INTEGRATION FOR THE FINANCIALLY EXCLUDED ClearScore x LOQBOX allows ClearScore users to open, view and manage their LOQBOX in one app

Financial exclusion impacts billions of people around the world, including younger people who are thin file* or new to credit. As the UK economy works hard to bounce back from the pandemic, British lenders are now expecting a rise in unsecured lending. As more people apply for credit, inevitably, more people will be declined.

LOQBOX and ClearScore have partnered to help UK consumers build a , support them in getting a head start on credit and secure a responsible financial future.

The integration of the multi award winning service, LOQBOX into ClearScore Build is a world first and will help hundreds of thousands of UK consumers. ClearScore x LOQBOX will allow customers to view their credit-building progress, learn how to build a healthy and receive updates all in one place.

Co-Founder and Co-CEO of LOQBOX, Gregor Mowat commented: "This world-first partnership and integration is a huge step towards ending financial exclusion. Certainly, since the pandemic, we have seen more and more young people who have suffered from a poor or non-existent credit score, preventing them from participating fairly in the financial world. We believe ClearScore x LOQBOX will help thousands of people who want to get a head start on building a credit history and to eventually become financially included”.

Co-Founder and CEO of ClearScore UK, Justin Basini said: "We are very excited about ClearScore x LOQBOX which is designed to help everyone, no matter what their circumstances, achieve greater financial wellbeing. We!ve always helped our users to improve their credit report and score but we wanted to go further. The reality for millions of people is that they are locked out of mainstream credit products, either because they don!t have any credit history or have made some mistakes in the past”.

For LOQBOX members who successfully completed a 6 month period, their credit scores went up by 34 points on average. Members then go on to perform better than their peers with traditional credit products and in turn are rewarded by saving thousands of pounds over their financial lives.

Co-Founder and Co-CEO of LOQBOX, Tom Eyre commented: "We wanted to work with ClearScore to provide a way that a person could simply and easily, without traditional borrowing, actually prove in a relatively short period of time that they were credit worthy and build a better future. We are proud to partner with ClearScore on Build and look forward to helping thousands more people to become financially included”.

Find out more about ClearScore x LOQBOX at ClearScore’s annual showcase of new innovations, streaming live on Vimeo at 3:30pm BST, Wednesday 21st July 2021:

*A "thin file” refers to the credit report of someone with little or no credit history. Consumers who are just starting out and may never have taken out a loan or had a are said to have thin files. https://vimeo.com/event/1145126/3d8fc8372a

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Note to editors LOQBOX!s mission is to end financial exclusion globally. This means giving everyone the chance to achieve their goals, most of which cost money. For many people, their goals are unachievable because they have not had an opportunity to build a positive financial profile, they don!t have sufficient savings or they don!t understand how to make the financial system work for them. LOQBOX is a multi award-winning business that has already enabled hundreds of thousands of people to build their credit score with the three main credit reference agencies and master their money while they save. It works best for people early in their financial life or for anyone trying to improve their relationship with money. When they have finished their journey, LOQBOX customers have a better credit score, a nest egg of savings and the ability to achieve their goals. Ultimately, LOQBOX helps everyone to get the things they want without money getting in the way.

LOQBOX is run by CEOs and Co-Founders Tom Eyre and Gregor Mowat.Tom has over a decade of experience in personal financial services. In 2012, when his little sister was refused credit to buy a sofa, frustration with the inflexibility of the credit-scoring system drove him to start creating solutions to help people build their credit history to access fairly priced credit. As a former partner with global audit and advisory firm KPMG, Gregor has seen first-hand how many people are excluded from accessing fairly priced credit either because they are young with little or no credit history, or because they have made past credit mistakes.

Tom and Gregor co-founded LOQBOX after setting themselves a mission to find solutions to this problem that work for both the lenders and these financially excluded groups. Both Tom and Gregor are regularly involved in conversations with government and regulators. They have featured in national, trade and local press and provide expert comment on finance, credit and lending.

About ClearScore

ClearScore is the UK’s number one free credit score and financial product marketplace. Founded in 2015 with the mission to help users take control of their financial health, ClearScore is the industry leader in giving everybody access to their credit score and report for free, forever. Winners of prestigious awards such as the Queen’s Award for Enterprise and featuring on The Sunday Times Best Companies to Work For list, ClearScore combines a team of industry experts, sophisticated algorithms and clever tech with a trustworthy brand. The result is a beautiful product that delivers an experience that is clear, calm and easy to understand. ClearScore uses data every step of the way to ensure that users see the most relevant financial products for them, giving them the tools to manage their finances in a way that suits them. With over 11 million UK users, and a further 3 million worldwide, ClearScore constantly innovates to help their users on a journey to greater financial wellbeing. Co-founded by CEO, Justin Basini, ClearScore is based in London and is supported by investment from QED Investors, Blenheim Chalcot, Lead Edge Capital and Invus Opportunities.

For more information: Katy Ringsdore || Head of Media Relations, LOQBOX [email protected] +44 7740 315 395

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*A "thin file” refers to the credit report of someone with little or no credit history. Consumers who are just starting out and may never have taken out a loan or had a credit card are said to have thin files.