Lloyds Bank Teams Up with MyPocketSkill to Promote Financial Education and Gig Work Opportunities

New Initiative by Lloyds Bank and MyPocketSkill to Provide Flexible Gig Work for Students

Financial independence is crucial because it provides individuals with the freedom to make choices that align with their values and goals, without being constrained by financial limitations. It offers a sense of security and reduces stress by ensuring that one can handle emergencies, plan for the future, and enjoy a comfortable lifestyle. Lloyds Bank, a leading financial institution in the United Kingdom with a rich history spanning over 250 years, is proud to announce an exciting new partnership with MyPocketSkill, a financial education platform dedicated to empowering Gen Z. Starting in January 2025, this collaboration will launch a co-branded promotional campaign aimed at helping students achieve financial independence.

Lloyds student account holders at four major universities will gain exclusive access to flexible gig work opportunities in fields such as photography, social media management, and tutoring. Through this innovative initiative, Lloyds Bank and MyPocketSkill will equip students with valuable life skills, including financial literacy, setting them on a path to a brighter financial future. The first phase of the campaign will launch across the UK at University College London, University of West London, Cardiff University, and Swansea University, featuring both online and onsite promotions, including events at the Big Student Lock-In in London in February 2025. MyPocketSkill, a platform using behavioural science to help young people earn, save, and learn about money, was selected by Lloyds as a partner for the Lloyds Launch 2024 programme.

Lloyds sees this partnership as a unique opportunity to engage the UK’s 13 million-strong Gen Z demographic and strengthen ties with student customers. Tamara van den Ban, Propositions Director at Lloyds, emphasized the bank’s commitment to supporting students' overall success. By partnering with MyPocketSkill, Lloyds aims to help students earn extra income and gain financial skills. If successful, the initiative could expand to provide more opportunities for students to boost their earnings.

MyPocketSkill reported that its platform helps students increase earnings and develop positive financial habits, like budgeting and saving, through financial nudges. Co-founder Zara Ransley described the Lloyds partnership as a key opportunity to support students facing financial pressures, offering paid opportunities that fit around university schedules. Ransley noted that over 80% of users made progress toward savings goals last year and expressed excitement about expanding the initiative with Lloyds to more UK campuses.

Gwilym, a 19-year-old student at Cardiff University, shared that he started tutoring on MyPocketSkill a few years ago. Since starting university, flexible work has been even more valuable, allowing him to manage his studies, earn weekly income, supplement his student loan, and save money. By equipping students with flexible job opportunities and essential financial skills, Lloyds Bank and MyPocketSkill are paving the way for a financial understanding and independent future generation.

Editor's Note:

The partnership between Lloyds Bank and MyPocketSkill represents a key step in supporting the financial independence of Gen Z students. By offering flexible gig work and financial education, the initiative addresses students' immediate financial needs while equipping them with skills for long-term financial success. MyPocketSkill's approach, using behavioural science to teach earning, saving, and financial literacy, aims to foster growth. '

Skoobuzz is eager to see the positive impact this collaboration will have on students across the UK.