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  • Pages
  • Editions
01 Welcome
02 Introduction
03 What is open banking?
04 Minimal disruption and big transformation
05 The financial effect
06 Speedy implementation
07 The future of fundraising
08 Easier payments for your supporters
09 Case study - Pledjar
10 How to get started: Charity payments in action

The future of fundraising

For sustainable success and revenue growth within today’s charitable and social enterprise sector – and for the future – organisations need to be alert and responsive to two key elements:

The growing community minded audience.

The rise and here-to-stay consumer preference for alternative digital payments.

This is how open banking technology fits in perfectly.

The community-driven audience

The pandemic saw a rise in community spirit reflected in elements like the weekly NHS claps and an increase in both regular and one-off charitable donations.

Millennials and Gen-Z made up the majority of donors in this period and according to GWI, today’s regular donor is more likely to be from these generations, despite often falling into a lower income bracket.

What’s more, for these younger generations in our hyper-connected world today, community goes beyond their immediate

vicinity – as shown by the likes of Greta Thunberg. No charity or cause is too small for their attention and hard-earned cash .

Millennials and Gen Z expect total transparency around their spending and are driving the ethical and sustainable consumer revolution. They see themselves as a powerful force for change and want to see their income make a positive impact as a result.

The digital payment preference

There was already an increase in digital fundraising and consumer spending online versus in-person. This trend was proving a challenge for charities before the COVID-19 crisis, but it has since accelerated, making this the preferred way to pay.

Times are changing

• According to the CAF, there has been a sustained increase in cashless giving since March 2020. • Charities in the UK reported a 35% increase in online revenue in 2020. • TrueLayer’s study showed that 63% of donors would be comfortable paying via open banking today. • Retail research by Checkout.com shows that 30% of consumers now actively want to try new payment

methods based on their digital experience in 2020.

In all, for charities to remain relevant and to attract long-term advocates and future donors, they need to embrace the best technologies:

To build a strong online community presence.

To enable new preferred payment solutions that facilitate quicker and safer donations.

Easier payments for your supporters >

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