Many people struggle to save money consistently. About 34% of UK adults have no savings, or less than £1000 in their savings account. Budgeting for big expenses or retirement involves building good financial habits and taking action. However, selecting the right financial provider is equally as important.

This London-Based Fintech Is Transforming How We Build Wealth With
This London-Based Fintech Is Transforming How We Build Wealth With Ethical, Competitive Savings Accounts Pixabay

The financial services industry stays successful by printing new money and lending money for mortgages. Since this practice is used by most traditional banks, customers are unconsciously supporting the negative connotations of printing new money, such as higher inflation which can price people out of homeownership.

Furthermore, banks generally use debt-based agreements to help people buy homes. Research by StepChange, a debt alleviation charity, calculated that problem debt costs the UK economy around £8.3 billion every year.

Pfida, a fintech in the heart of London, provides an alternative savings service for those looking to grow their wealth in an ethical and more economically sound way.

Pfida only uses invested funds to help people into debt-free home ownership, and never prints new money. The company helps make ethical homeownership accessible, whilst providing up to 4.7% AER to its savers in the form of a profit share on the homes funded.

By choosing Pfida's Grow-Your-Savings accounts, account holders are directly fuelling the company's home finance solution that helps people purchase homes through partnership agreements whilst avoiding debt and high-interest rates. They believe their 'Grow-Your-Savings' accounts will change money-saving behaviour for the better, creating positive social impact and promoting financial inclusion. Pfida's savings account starts from as little as £100 with no cap on investment amounts. Visit the company's Grow-Your-Savings page to find more information about how you can get started.

The community impact of providing a service like this is widespread, touching thousands of families and allowing them to own a home without financial burdens. Pfida is frequently praised for its professional and efficient service, which has allowed the company to maintain a 4.7 rating on Trustpilot. One satisfied customer on the platform, Karim, expressed his gratitude for the company's services. "Pfida demonstrated a keen understanding of the market and provided me with a competitive rate that aligned perfectly with my financial goals."

Traditional investment accounts offer a limited range of assets to put your money into while Pfida uses one of the most valuable and stable investments, real estate, to give their customers access to attractive returns while still utilising their funds for good. Funds in Pfida's investment savings accounts are used to purchase properties that are asset-backed and secured with a legal charge to minimise risk.

Pfida Founder and CEO, Raza Ullah, was inspired to create an alternative finance company that could foster a strong social impact. After working as an actuary for several years, he recognized gaps in the market, particularly for investment savings accounts and homeownership services. With the help of his co-founder Salman Hasan,, the company came to life. The very first property that Pfida financed was out of Raza's life savings. However, the pair's dedication has paid off in the form of countless satisfied clients who have improved their wealth or achieved home ownership. Pfida details its mission and vision on its website, citing the company's people-centered moniker and goal to create an ethical and fair world by providing accessible finance products and services while making strides to eliminate debt.

"Establishing a human-centric fintech company has been one of the most rewarding experiences of my life," says Raza. "Through Pfida, I've been able to help many people achieve home ownership and build their wealth. These things can be difficult to accomplish without a financial partner, but I'm so proud of Pfida's impact on the community. I believe our team will inspire people to achieve their financial goals."