Martin Lewis's Money and Mental Health Policy Institute has launched an "action lab" alongside top UK lenders — including Barclays, HSBC, Lloyds, Monzo, and Nationwide — to improve intervention strategies for customers experiencing suicidal thoughts.
Backed by the Financial Conduct Authority, the project uses banking data to identify financial red flags like severe debt or sudden drops in income, aiming to establish industry-wide best practices. The charity plans to publish its pilot findings in summer 2028.
Banks in a 'unique central position'
Mr Lewis, founder and chair of the Money and Mental Health Policy Institute, said: "The link between mental health difficulties and debt is a marriage made in hell – they feed off and cause each other. Long-term money worries grind people down, and aggressive debt collection practices can leave them feeling completely hopeless."
"Banks didn't cause all these problems, but they are in a unique central position in people's financial lives, and we want to see if it's possible to take advantage of that to be able to spot when customers are in trouble and urgently direct them to the right support."
"So I'm delighted and thankful so many major banks have committed to working with Money and Mental Health on our new suicide prevention action lab."
Finding gaps and testing new ways to help
Mr Lewis added: "We aim to get under the bonnet with banks to find the gaps, test new ways to identify and support people in crisis, and drive change not just with those who've signed up but right across the sector – and potentially save lives."
Economic Secretary to the Treasury Lucy Rigby said: "Financial worries and mental health challenges too often go hand in hand. I have seen first-hand how the industry can make a real difference to people's lives through concerted action and I am very hopeful that this excellent project will help us find new ways to support people before they reach crisis point."
Alison McGovern, Minister of State for Mental Health, said: "The suicide prevention action lab has the potential to make a real difference in identifying and supporting vulnerable people who are at risk of suicide, and save many lives over the coming years."
Samaritans' message on suicidal thoughts
The Samaritans charity, which offers support to people who are struggling, said earlier this week it wanted to let people know that suicidal thoughts "can be interrupted" by other people – and that rather than being concerned with saying "the perfect thing", it is better just ask if someone is okay.
When life is difficult, Samaritans are here to listen – day or night, 365 days a year. You can call them for free on 116 123 or visit samaritans.org
