An east London social entrepreneur whose startup helps get hardship payments to people in need quickly has won a national award.
Gareth Evans’ startup Cash Perks allows charities, social landlords and councils to send funds by SMS to people in poverty allowing them to instantly withdraw cash from ATMs.
The system, which means the recipients do not need a bank account or debit card, is used by several London councils, and cuts down the time needed to send emergency payments to just minutes.
Now the startup has received a National Impact Award for Social Transformation from Digital Leaders, which awards digital initiatives which improve people’s lives.
Mr Evans, 44, came up with the idea while working on a grants scheme at a top housing organisation two years ago.
The Hackney-based entrepreneur said: “I’ve spent much of my life trying to address financial exclusion so it’s wonderful to have found an innovative, effective way of getting cash to people fast and helping alleviate hardship.
“Providing cash support is by far the most effective and dignified way to help people in financial crisis and, with 1.3 million people in the UK without a bank account and a further 14 million people dipping into their unauthorised overdraft each year, it overcomes the challenges of sending funds to those in most need.”
Councils who use the service include the boroughs of Barking and Dagenham, Haringey, and Kensington and Chelsea, as well as several leading housing associations and charities.
Since launching just over two years ago, Cash Perks has facilitated more than 27,000 emergency hardship payments totalling over £4 million, Mr Evans said.
It can be used at more than 17,000 cash machines across the UK, roughly 28% of the UK’s ATM network.
Ella Lukos, of Barking and Dagenham Council, said adopting the technology had “allowed us to support our vulnerable clients much more efficiently but also helped our social workers to cut down on time spent to try to deliver the funds to their clients.”
The service estimates it has saved social workers around 2,300 hours of time in its Children’s Services by speeding up the time required to process payments.
