Fair4All Finance has been founded to support the financial wellbeing of people in vulnerable circumstances by increasing access to fair, affordable and appropriate financial products and services.
Through increasing access to and the use of fair financial products and services, we will help people in vulnerable circumstances to meet their day to day financial needs, absorb shocks and smooth incomes.
Our vision: a society where the long-term financial wellbeing of all people is supported by a fair and accessible financial sector.
Our mission: to increase the financial resilience of people in vulnerable circumstances by increasing access to fair, affordable and appropriate financial products and services.
Founded in February 2019, Fair4All Finance was established in response to the government’s commitment to allocate dormant assets money to financial inclusion initiatives.
Our challenge and opportunity is to deploy the dormant assets money to ensure that affordable credit, and other financial products and services, serve the needs of people in vulnerable circumstances at scale.
We are in a position to be able to build on great work that has taken place by the Department of Digital, Culture, Media & Sport (DCMS) and the National Lottery Community Fund (NLCF), in close partnership with HM Treasury, the Cabinet Office, the Department for Work & Pensions and the FCA. We are grateful for the support of this group and we plan to work in close partnership with them.
We were founded in February 2019 and are still forming our inaugural strategy. We are taking an analytical and evidence-based approach to determining what activities our funding goes to, and the way this funding is structured.
We plan to work collaboratively across the financial inclusion and financial services sectors, so if you think you have some knowledge or are aware of a programme that is relevant to the work that we are doing, please reach out to us directly.
We live the following values
We want to work in partnership with others who have experience and expertise and share what we have; we do not want to duplicate work done by others
We are open and invite contribution in all we do
We operate with the needs of vulnerable people at the heart of everything we do
We operate with humility and provide a practical commercial service to those seeking to improve financial inclusion
We iterate potential solutions rather than designing for perfection
We seek to understand the problems we are trying to solve from both the viewpoint of the whole system and the individual effected
We design interventions based on the following process: clarity of purpose
- We have a clear definition of the problem at a system level
- We understand how this problem impacts people
- We have a definition of how our intervention will improve the system
- We understand how this systems change will impact people
Assimilate research and data
- We use existing research
- We bring together experience and experts to work with us
- Design potential solutions using iterative design thinking in partnership with others
- Test these solutions against our original problem statements to ensure the solutions are sustainable
- Some of the things we will try will be innovative and potentially risky
- If we fail, we will fail fast and learn
- Consult both specifically those that we think can help and publish to a wider audience
- Improve the solutions based on feedback
- Test against original problem statements and keep improving until fit for purpose
- Activate and implement solutions
Working in practice
- We expect our values to clearly shine through in everything we do
- We convene stakeholders to understand and work through potential sustainable solutions
- We will use technology to make our work efficient, agile and inclusive
Before joining Fair4All Finance, Fionn worked in public affairs and communications at the Money and Pensions Service and its predecessor organisation the Money Advice Service. He also has experience working in the external policy team at Toynbee Hall. Prior to that, he spent a year teaching English in a secondary school in Dortmund, Germany. Fionn works across a number of projects on programme development, delivery and stakeholder engagement.
Before joining Fair4All Finance, Hanadi completed her Master of Public Administration in Economic Policy at the London School of Economics and Political Science. Prior to that, she spent three years working within homeless serving agencies in Canada’s public sector, as well as supporting the establishment of a non-profit refugee health clinic. Hanadi works as the lead on research and impact measurement and ensures that the needs of the target cohorts are integrated within all programmes.
Jonathan is an ex PwC Financial Services Consulting partner with a specialism in FS technology. He has a broad range of experience in delivering change at a range of FS organisations generally enabled by technology. He also led the PwC Payments and Open Banking practices in the UK. Jonathan will be leading on understanding the technology opportunities for the affordable credit market, including how affordable credit providers can best scale.
Leonie is a third-sector communications specialist and has worked with a number of charities and social enterprises in the UK and overseas. She is currently leading the development of Fair4All Finance’s brand and communications strategy. She holds a Social Policy degree from the University of Bristol.
Linda worked with PwC for 27 years and has extensive experience of leading and working with dynamic, complex and diverse leadership teams and developing business strategies for successful business performance. Linda qualified as a chartered accountant and chartered tax professional and also has an MBA.
Tom leads on strategy and policy for Fair4All Finance. He formerly worked in the Government Inclusive Economy Unit in the Department for Digital, Culture, Media and Sport, where he led the policy development work to establish Fair4All Finance. Previously, he worked at tech start-up GoCardless, founded a social enterprise, and spent four years at Accenture in their digital and international development practices. He holds a BSc from the University of Bath.
Faith is a consumer finance expert. She acts as the Independent Consumer Representative on the Open Banking Implementation Entity Steering Group and authored the widely-read report: Open Banking: A Consumer Perspective and Consumer Priorities for Open Banking. Faith is a non-executive director for the Current Account Switch Service. This year she was named as one of the Standout 35 on Innovate Finance’s Women In Fintech Powerlist.
Until recently, Faith was a member of the Financial Services Consumer Panel at the FCA where she was the lead for technology and innovation. Previously, she was on HMT’s Financial Inclusion Taskforce and established Toynbee Hall’s financial inclusion work in the heart of London’s East End. She was awarded the Clore Social Leadership Fellowship in 2010.
James Invine is a sell-side equity analyst at Societe Generale. His focus is the banking sector and its various commercial, regulatory and macroeconomic drivers. He brings knowledge of investor appetite for and concerns with the financial sector. James is a trustee at The Limehouse Project, a charity based in Tower Hamlets that helps marginalised individuals to overcome barriers to stable, fulfilled lives by providing advice, training and community development.
Joanna is Chief Executive of the Money Advice Trust, whose vision is to help people across the UK to tackle their debts and manage their money with confidence. Last year the Trust helped over 220,000 people to manage their debts via National Debtline and Business Debtline, supported 4,400 money advisers through its Wiseradviser service and delivered vulnerability training to 44 organisations.
Previously, Joanna was Executive Director at the British Bankers’ Association running their policy department for personal and small business customers. Before that she was a House of Commons researcher and prior to that a primary school teacher.
In 2010, Joanna was awarded an OBE for services to people in debt.
Joanna is a director of the financial services trade association UK Finance, representing vulnerable consumers, Chair of the Advisory Panel at Birmingham University’s Centre on Household Assets and Savings Management, a selection panel member for the Open Banking for Good challenge (part of the Cabinet Office’s Inclusive Economy Partnership), a Commissioner for Energy UK’s Vulnerability Commission, and a member of the ABCUL/Lloyds Banking Group Grants Committee, the government’s Financial Inclusion Policy Forum and HM Treasury’s Home Finance Forum.
She is also Vice Chair of the Friends Provident Foundation and a Chartered Director.
Sir Leigh Lewis spent 37 years as a civil servant, latterly as Permanent Secretary at the Department for Work and Pensions from 2005-2010. Amongst his other current appointments, Sir Leigh is Chair of the alcohol education charity, Drinkaware, Vice Chair of the Holocaust Memorial Day Trust and a visiting fellow at Greenwich University Business School.
Richard was appointed as the Founding Chair of Fair4All Finance in February 2019 after being selected by an independent panel chaired by Sir Leigh Lewis. Richard was on the second Dormant Asset Commission in 2017 which looked at the expansion of the dormant assets scheme and was previously Global Vice-Chairman at PwC.
He has been working in an advisory capacity with DCMS on the subject of financial inclusion since 2018 and is currently Chair of a number of companies, charities and social enterprises, including the School for Social Entrepreneurs.