SANTANDER PARTNERS WITH NATIONAL NUMERACY TO HELP IMPROVE FINANCIAL INCLUSION IN THE UK

Santander partners with National Numeracy over three years with a focus on strategic activity to help tackle financial inclusion in the UK

  • Bank to provide £200,000 donation each year to help raise awareness of the importance of numeracy across the country

  • 40 per cent of Brits – 20.4 million – don’t feel fully confident with everyday budgeting and money management

Santander has chosen National Numeracy as its new strategic charity partner over a three-year period between 2019-2021. National Numeracy is an independent charity established in 2012 that helps to raise low levels of numeracy among both adults and children, promoting the importance of everyday maths skills. Recent research by Santander(1), found that over half of Brits – 52 per cent – wish numeracy, finances, and budgeting had been a bigger part of their life at home and school, with 40 per cent saying they don’t feel ‘fully confident’ with everyday budgeting and money management. This is also causing a tangible impact on people’s prospects, according to further research by National Numeracy(2), which found one in four people surveyed said they have been put off from applying for a new job which listed ‘using numbers and data’ as a requirement. The focus of the partnership will be to work together to improve financial inclusion in the UK, with a particular emphasis on ensuring Santander customers and communities are equipped with the necessary skills to understand and make better decisions with their finances. Each year, the bank will provide a donation of £200,000 to help promote the importance of numeracy across the UK. Partnership activity began earlier in April with ‘The Numbers Game’ – an educational football-themed roadshow aimed at raising awareness of the importance of numeracy, leveraging Santander’s sponsorship of the UEFA Champions League. As part of the bank’s commitment to tackling financial inclusion and highlighting the crucial role numbers play in everyday life, ‘The Numbers Game’ visited eight cities across the UK. Over 9,000 people took part in the activity with 74% of participants saying they now feel more comfortable in dealing with numbers and 87% believing that confidence with numbers helps them manage their money better. Mike Ellicock. Chief Executive, National Numeracy, said: “Millions of adults lack the confidence and competence to use numbers and data and this can cause them significant problems when trying to make good decisions at work and managing finances at home. We are delighted that Santander are providing strategic support to our work to improve both ‘number sense’ and ‘money sense’ across the UK". Nathan Bostock, CEO of Santander UK, said: “We understand that numeracy is a key driver in making better financial decisions, especially when it comes to budgeting, such as ensuring your finances cover the cost of living or when saving for a home. Helping people improve their financial confidence is a key ambition of ours and whilst there is no fast solution, we’re delighted to be working with National Numeracy over the next three years as part of our commitment to tackling financial inclusion in the UK.”

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