Hoist Finance partners with ONSbank in The Netherlands

AUG 31 2020

Hoist Finance is collaborating with ONSbank in The Netherlands, a foundation that helps young people out of problematic debt.

Part of the collaboration is built on voluntary work from some of our skilled employees who personally coach and support young people in ONSBanks network. Most of the support provided from Hoist Finance employees is to help find a way through what sometimes is a maze of companies, laws and government agencies.

"Our collaboration with ONSBank has been a perfect match from the beginning where we contribute with our core expertise on debt resolution processes and ONSBank gives us access to a deeper understanding of the debtor perspective. Together we are able to better support young people in financial distress", says Jelle Dekkers, Country Manager Benelux.

He continues: "In the past months, I have seen a lot of best practices, but also some dark places of our industry. I am proud about the policies we have developed to protect the most financially vulnerable people in society, including only buying loans from reputable banks with a sound credit policy and actively turning down portfolios from some parts of the consumer finance markets. Nonetheless, the insights we have gained are very valuable for us at Hoist Finance to improve policies and ways of working.”

The partnership with ONS Bank is in line with one of the goals in our Sustainability strategy; to form external partnerships with organisations that have innovative ideas for increased financial inclusion.