- 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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Notes to Editors
- The survey of 2,000 adults was undertaken between 22nd and 26th March 2019 by polling company OnePoll - www.onepoll.com.
- Poll of 2007 adults aged 16-75 by Ipsos Mori on behalf of National Numeracy. All interviews were conducted online between 5th and 9th April 2019. Data weighted to reflect the national population profile.
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 30 June 2019, the bank has around 24,000 employees. It serves around 15 million active customers, via a nationwide branch network, telephone, mobile and online banking; and 62 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers’ eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of June 2019, Banco Santander had EUR 1.03 trillion in customer funds (deposits and mutual funds), 142 million customers, 13,000 branches and 200,000 employees. Banco Santander made underlying profit of EUR 4,045 million in the first half of 2019, an increase of 2% in constant euros compared to the same period last year.
About National Numeracy
National Numeracy is an independent charity, founded in 2012, committed to transforming attitudes and achievement in numeracy across the age range. In particular it focuses on those with low levels of numeracy. National Numeracy is a registered company (company no: 7886294) and charity (charity no: 1145669).
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