Finance firms playing their part to provide support amid Covid-19

Despite some easements, the message in the UK is still very much to stay at home where possible, and in doing so, help save lives.

It is important that as individuals, we all do our part to help in the current crisis, but some organisations have chosen to go above and beyond to support in the fight against Covid-19.

Aegon for example, has donated £200,000 to charities supporting the coronavirus relief effort, including The Royal Voluntary Service and The Trussell Trust.

The Trussell Trust stated that this “vital” support would be used to provide emergency food safely, after its network of food banks saw an 81 per cent increase during the last two weeks of March.

Meanwhile, the Royal Voluntary Service explained that the “generous donation” would allow vulnerable older people to remain connected, giving access to essential medication, food, and welfare checks.

The firm also made a £50,000 donation to its nine 2020 corporate charity partners, which were employee selected earlier this year, and include MacMillan, Essex and Herts Air Ambulance, and Farleigh Hospice.

Although donations to charity partners are usually raised through employee fundraising, and then matched by the business, on this occasion, Aegon UK made a specific company donation.

In addition to this, Aegon staff across Edinburgh, London, Witham, Salford and Peterborough raised over £8,000 alongside their Atos colleagues.

And whilst pension providers cannot protect their members from the virus itself, they can protect their retirement savings from those who would take advantage of the current crisis to scam them

One firm going above and beyond to support its members against this growing threat is Aviva, who have launched an online fraud reporting tool.

One of the first insurers to launch such a service, Aviva’s Financial Crime Intelligence Unit will investigate every incident, respond and give guidance to individuals on what action to take.

It will also provide practical tips and information about how people can best protect themselves and their money against fraud.

Commenting on the launch, Aviva group fraud risk director, Matt Chapman, said: “We
believe we have a responsibility to work in partnership with the industry to protect people from financial crime – particularly where the Aviva brand name is being used without our consent.

“The types of financial scams and misleading consumer advice we’re seeing right now are not much different to those we see at any other time.

“Sadly though, it’s during this difficult time that fraudsters are using coronavirus to take advantage of unprecedented levels of consumer fears over money. The industry needs to work together to support each other and our customers.”

Meanwhile, AJ Bell has now made hundreds of Huawei tablets available to care homes and hospitals to help patients and residents to stay in touch with their loved ones throughout the crisis, offering a much needed point of contact and support.

This is the second initiative to be funded by the firm’s Wage War on Covid Fund, which was launched in April, and saw staff donate all or part of their wages for April, May and June to the fund.

Over £150,000 was raised within the first month, with £30,000 donated to local foodbank in Manchester and London earlier this month in its first initiative.

Don’t miss our previous good news updates to see more of the good work being done by financial organisations amid the current pandemic.

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