
Klarna users in the U.K. can run a free Money MOT financial health check inside the app. The partnership with Money Wellness offers budgeting advice, debt management tips and direct advisor access.
Klarna users in the U.K. can now run a free financial health check inside the app, courtesy of a partnership with financial well-being provider Money Wellness.
The feature, called Money MOT, gives users a personalized snapshot of their finances alongside advice on budgeting, income optimization and debt management, the companies said in a Friday press release. (An MOT is a periodic vehicle safety test required in the U.K. – the analogy being that money deserves the same regular checkup as a car.)
"You don't wait until there's a problem with your car before you get an MOT. And the same principle should apply to your money," Money Wellness wrote in a blog post about the deal.
Users can speak directly to a Money Wellness advisor, book a call for later or complete the check online through a secure link, according to Klarna's release.
Sebrina McCullough, director of external relations at Money Wellness, said the company aims to help people feel confident and in control of their money. "We're delighted to partner with Klarna to make free, financial support easily accessible to customers and help more people take positive steps towards long-term financial wellbeing," McCullough said.
Abby Vickers, head of financial services U.K. at Klarna, said the Money MOT offers practical, personalized tips to people whose finances are in great shape and those who could use some help. "We're proud to bring the experts at Money Wellness right into the Klarna app, so a bit of help is always just a tap away," Vickers said.
The partnership is the latest push by Klarna into everyday spending. In May, the company reported that deposits, debit usage and point-of-sale financing drove first-quarter growth.
PYMNTS Intelligence research has found that exposure to financial education correlates with better financial outcomes, and that millennial and Gen Z consumers actively want to improve their financial literacy.
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