Suits Me acquires the Engage business from Contis

Finalised for an undisclosed fee, the deal includes the relocation of all Engage Card customers’ accounts to Suits Me, which supports the latter’s mission of solidifying its position as a provider of inclusive financial services in the UK. After offering their consent, all Engage Card customers are set to be migrated in 2025 to Suits Me, with the company planning to carry on Engage’s initiatives in collaboration with UK credit unions, which significantly contributed to promoting financial inclusion.

Before proceeding with this acquisition, Suits Me teamed up with Jumio, a US-based identity-proofing and compliance solution, to assist the underbanked population in the UK. As part of the alliance, the two companies focused their efforts on supporting underbanked individuals in the UK to apply for an account without needing traditional banking documents. Also, Suits Me worked towards mitigating the complexities that opening an account presented and simplifying the process with a range of accounts that met customers’ needs, preferences, and demands.

Increasing financial inclusion in the UK

As part of Solaris, Engage Card focused its efforts on fostering financial inclusion and resilience across the UK. The current move enables Suits Me to closely collaborate with Engage’s former partners, credit unions, and other stakeholders to ensure an optimised transition for customers and preserve the support previously developed. In addition, the acquisition allows Suits Me to strengthen its position as a provider of inclusive financial services, delivering its account holders a range of banking-life solutions, including account access, contactless debit cards, direct debits, and mobile apps, among others.

Moreover, Suits Me underlined that it plans to continue to prioritise its customers’ financial well-being, offering an inclusive banking experience developed to enable individuals to manage their funds more conveniently and efficiently. Additionally, the company aims to continue to provide financial tools that fit customers’ demands, needs, and preferences, while also remaining compliant with regulatory requirements.