Vision and mission
Fair4All Finance was founded in 2019 to support the financial wellbeing of people in vulnerable circumstances. Funded by dormant assets money for financial inclusion, our mission is to increase access to fair, affordable and appropriate financial products and services.
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.
Who we serve
Fair4All Finance is here to increase the financial resilience and wellbeing of people in vulnerable circumstances. Anyone can find themselves in circumstances that make their situation vulnerable and certain characteristics have long-term challenges that put people at more risk of harm, too.
It’s a number that’s grown as a result of the Covid-19 pandemic – by up to 3 million people – and now totals approximately 11 million people.
We define vulnerability in the same terms as the FCA, where a vulnerable customer is someone who is especially susceptible to detriment, with the four key drivers of vulnerability being:
- Life events
These drivers will shape customers’ needs over the whole of their financial lives. We want to see well-designed financial products and services that better respond to these and support people’s financial wellbeing.
Fair4All Finance was established in response to the government’s commitment to allocate dormant assets money to financial inclusion initiatives.
About our funding: Where does dormant assets money come from?
Fair4All Finance is funded by dormant assets money for financial inclusion. The current dormant assets scheme enables banks and building societies to voluntarily channel funds from dormant accounts towards good causes in the UK through Reclaim Fund Ltd.
Banks and building societies can only transfer funds to good causes from accounts which have remained untouched for 15 or more years and when the customer is no longer contactable. Banks and building societies make significant efforts to reunite people with their money, and only the money which will never be reclaimed is distributed.
The Dormant Bank and Building Society Accounts Act has put hundreds of millions of pounds back into circulation for public benefit. Since 2011, over £1.2bn has been transferred into the scheme, with over £600m made available for good causes in the UK. RFL must retain the amount they deem prudent in order to meet customer reclaims in perpetuity and can only release surplus funds to The National Lottery Community Fund. The National Lottery Community Fund, the legal distributor of dormant assets funding, apportions this money between the nations.
The Dormant Bank and Building Society Accounts Act specifies that funds in England can only be spent on youth or financial inclusion, or directed to a social investment wholesaler. There are five organisations set up to manage this unique type of funding: Big Society Capital, Access Foundation, Youth Futures Foundation, Fair4All Finance, and The National Lottery Community Fund itself.
Customers can reclaim their money at any point here.
In 2017 DCMS led an engagement exercise with the financial inclusion sector to explore the possibility of investing new dormant assets funds to tackle the issue of financial inclusion. This engagement determined that funds should be allocated to tackling problem debt and improving access to financial products and services for those on lower incomes.
A four-month user-centred cross-sector engagement followed, during which time more than 98 organisations were consulted. This concluded that in order to truly help vulnerable people meet their financial needs, systemic market change was needed. It was agreed that a new organisation was best placed to deliver this, and Fair4All Finance was established in February 2019.
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 continue to work in close partnership with them.
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
The needs of people in vulnerable circumstances are 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
Working collaboratively with a range of groups who are already active across the financial inclusion and financial services sectors, we follow this simple 5 step approach to find and scale the most appropriate solutions:
- Diagnose the issue/opportunity for focus
- Discover what great solutions and evidence already exist
- Dream what a great outcome would look, feel, sound like
- Design and build evidence and capability to scale existing and/or innovate new solutions
- Deliver, iterate and evaluate
As CEO of Fair4All Finance Sacha leads the organisation to deliver on our mission: to increase the financial wellbeing of people in vulnerable circumstances through access to fair and affordable financial products and services. She has a background in driving purpose led change in business through her previous roles as CEO at Grant Thornton and as the inaugural chair of Access Accountancy.
She has extensive experience of working with businesses, government and civil society to address key systemic issues and is also Co-Chair of the Inclusive Economy Partnership and a non-executive Director at Leapfrog Investments through which she brings unique perspectives to her role at Fair4All Finance.
Sacha was awarded an OBE in October 2020 for services to business during the Covid-19 response
Becky leads on looking after the people, processes, systems and resources which enable our work.
Becky has a diverse operations and advisory background working across the private and social sector. Prior to joining Fair4All Finance, Becky was a Compliance Consultant with Bates Wells, providing regulatory advice to social investors, asset managers, fintech and other financial services providers. She also worked as an independent consultant advising social funders and social enterprises on governance, compliance and operations.
Becky previously headed up the operations of Fair Finance, one of the UK’s leading Community Development Finance Institutions, providing fair and affordable credit and debt advice services to vulnerable people. Becky started her career in international development, working for Christian Aid supporting and managing the delivery of large government and institutional donor-funded contracts and grants.
Alongside her work at F4AF, Becky is a trustee of Oasis Community Partnerships, a charity providing community services across the UK and a member of the investment committee for the Centre for Innovation in Voluntary Action (CIVA).
Becky has a BSC in Physics and an MSc in Global Ethics from the University of Birmingham.
Holly joined Fair4All Finance in June 2020 as Investment Director. She was previously Head of CAF Venturesome, one of the most active social investment funds in the UK. Holly led the team making hundreds of affordable social investments to a wide range of social organisations – from local community-led housing groups to major international development charities – enabling them to flourish. She launched new specialist social investment funds, and raised significant philanthropic capital for investment from individual and institutional funders. She personally led several innovative social investments, including one of the first social impact bonds.
Prior to joining the social investment sector, Holly worked at the management consultancy firm Oliver Wyman, specialising in the retail sector. She has a degree from the University of Cambridge, an MSc in Political Science and Political Economy from the London School of Economics, and the Investment Management Certificate.
She is a trustee of the social enterprise Yes Futures. Holly is a member of the inaugural WISE100 (top 100 women in social enterprise and impact investment).
Mel joined Fair4All Finance in June 2021. As Financial Controller she will be supporting the delivery of Fair4All Finance’s strategy and investment activity. She has over 20 years experience working across private and not for profit sectors in finance and operations roles. She has led finance operations in a number of high profile brands including Whitbread, BP and GlaxoSmithKline. Mel previously headed up finance and operations at The Forward Institute, a leading not for profit organisation that facilitates ethical and responsible leadership across public, private and social sector executive teams.
Mel is passionate about inclusivity, diversity and making finance understandable for everyone. Alongside her work at Fair4All Finance Mel mentors young people from diverse backgrounds.
Mel has a BA in Economics, is a member of the Chartered Institute of Management Accountants and has an MBA.
Kate joined Fair4All Finance full time in April 2021.
She has over twenty years of experience in establishing, managing and transforming large scale operational services across the public, private, education and not for profit sectors. Her experience spans both commissioning and delivering major business support services to enable firms to thrive, including significant programmes in the UK.
Kate is passionate about growing the affordable credit sector and leads our work to provide the tools, infrastructure and support to complement our investment activities. Kate is building our team to deliver on three areas: technology; markets, consumer insights and product design; and governance, talent and leadership.
She brings her experience to bear across our wider strategy through her Executive Director role.
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.
Georgia joined Fair4All Finance after completing the On Purpose social impact leadership programme. Before On Purpose she spent seven years working in advertising, helping clients to develop long-term strategies and campaigns to meet their business needs, and leading multidisciplinary teams to deliver integrated projects at pace for global FMCG brands.
In 2018 Georgia decided to quit advertising to work for organisations where good business practice means more than just an intense pursuit of profit. She took a maternity cover contract at a housing social enterprise where she improved and bedded in new systems and processes, directly contributing to a substantial period of growth. Georgia read Spanish and Italian at Bristol University.
James leads on developing and delivering Fair4All Finance’s strategic communications.
James has a diverse financial services background across the private and public sector. He has skills and experience in communications, marketing and customer experience. Before joining Fair4All Finance, James developed and delivered communications for Virgin Money. He has also worked for Aviva and the Norfolk Pension Fund. Always with a strong focus on customers. Earlier in his career, James had a spell working as a freelance journalist, including at the BBC.
Fan joined Fair4All Finance in October 2020 as Investment Manager. She previously worked as an Investment Manager at CAF Venturesome, one of the most active social investment funds in the UK. Fan managed a portfolio of 20-30 social investments during her time at CAF Venturesome, and led on the investment into Furniture Resource Centre (named Social Enterprise of the Year 2019 by SEUK). She also completed the first 10-year loan facility offered by the fund.
Prior to joining the social investment sector, Fan had completed the On Purpose social impact leadership programme, working with a solar financing startup and UK-based science charity. Fan began her career in investment banking, working for Deutsche Bank, specialising in the financial services sector.
Fan has a degree from the London School of Economics, and currently serves as a Trustee for The Elfrida Society (charity providing advocacy services for people with learning disabilities).
Lauren joined Fair4All Finance in May 2021.
Lauren has worked across customer propositions and experience, marketing and strategy in both the UK and Canada. She has worked in direct to customer and intermediated markets in savings, retirement and general insurance, as well as public policy and corporate responsibility. Prior to joining Fair4All Finance, Lauren led Aviva’s direct Equity Release business. Lauren is experienced in customer immersion and customer-centric proposition development and delivery, and leads the proposition development team.
Lauren is passionate about inclusion, having previously led internal and cross-sector LGBTQ+ networks and supported broader inclusion efforts across financial services.
Niall joined in August 2021, having previously assisted Fair4All while on secondment from Carnegie UK Trust, where he also anchored their affordable credit programme from 2016-2021.
With a BA in Community Education, Niall spent the 1990’s in community development projects in the Craigmillar and Wester Hailes neighbourhoods of Edinburgh. He co-designed with community activists and a major bank the Wester Hailes Community Banking Agreement – an experience that led him to concentrate on the field of affordable credit. He now brings 20+ years’ understanding of community finance and knowledge of the high-cost credit market.
Although he has held positions within Bank of Scotland and Moneyline, most of Niall’s work has been as a freelance consultant supporting the establishment, or development, of community lenders; identifying the impact of a lack of access to products and services for some households; or monitoring high-cost credit lenders and their changing customer base.
Niall is a Director of both Right Way Credit Union and the Centre for Responsible Credit. He is also a member of Moneyline’s Impact Committee.
Shanaka joined Fair4All Finance in July 2021 as a Digital Innovations Lead.
Prior to joining, his career spanned 20 years of working with technology and data projects across a diverse range of sectors as a technology consultant. He left the corporate sector in 2012 to focus on doing work with the social sector.
Alongside his career he has also done voluntary work as a Board member and Chair of the City of Westminster College, and is currently a member of the strategic lay forum for the Imperial College NHS Trust.
Ayesha joined Fair4All Finance in September 2021 and will focus on projects related to systems change and impact. Prior to joining, Ayesha was at the Social Mobility Foundation for nearly 7 years where she managed a programme assisting thousands of young people from low-income backgrounds to enter universities and access the professions. She worked with high profile organisations from across 11 professional sectors (including financial services, law, STEM) to develop their talent pipelines and social mobility agendas whilst also developing the programme to equip young people with the appropriate skills development and career knowledge to succeed in the world of work. Before this, she managed the delivery and development of an award winning national mentoring programme involving over 4000 participants.
Ayesha also volunteers her time as Global Development Manager at Robogals, an organisation that aims to inspire and engage young women in STEM related fields across the world. She holds a BSc in Biology and Psychology from Queen Mary, University of London.
Jake joined Fair4All Finance in September 2021. As Programme Manager: Strategy he will be leading on new initiatives and driving research to improve the financial services system for people in vulnerable circumstances. Jake joins from the Money & Pension Service (MaPS) where he led various workstreams of the UK Strategy for Financial Wellbeing with a specific focus on the role employers and partnerships in improving the financial lives of people across the UK. Prior to MaPS, Jake was HR Director at T-Systems in the UK where he developed a holistic wellbeing and inclusion programme, implemented a responsible investment strategy for the company pension scheme and worked with partners and industry bodies to improve pension and benefit provision.
Jake has a BA in History of Art & the History of Scientific Thought from Leeds University and holds a master’s degree in Sustainability Leadership from the University of Cambridge.
Senthan joined Fair4All Finance in July 2021 as a Programme Manager supporting Organisational Delivery. Before this, he was a 2020/21 Year Here Fellow where his highlight was working with SEND students at School21 in Stratford and delivering solutions to tackle digital exclusion and low benefit uptake among older people in East London
Previously, he spent over twelve years developing & delivering target operating model projects impacting technology, processes and people across numerous financial service organisations including Aviva, UBS, Direct Line Group, Barclays, Lloyds Banking Group & RBS.
Senthan started his career as Chartered Accountant in Melbourne, Australia and recently obtained an MSc in Sustainable Development at the University of Sussex. As well as his contribution to Fair4All Finance he is Operations Lead at Element Creative Projects and a Trustee at Action Change.
Gabor joined Fair4All Finance in July 2021 to manage the evolution and delivery of Growth and Development programmes.
He grew up in Hungary, went to university in Moscow and arrived in the UK in 1995. Subsequently, Gabor worked over 22 years in Asset Management, Private-, Investment- and Retail Banking for HSBC in London, San Francisco, New York and Paris. He has significant experience in business management and development, strategy and planning, M&A, change management as well as governance and conduct areas.
At the end of 2018, Gabor left HSBC to put family first and use the time to set up his own financial literacy practice, ‘Money etc’, to provide education and improve people’s confidence in personal finance decisions . He also became a Trustee and Treasurer for Chapter, a mental health charity.
Gabor is passionate about financial inclusion, education and empowerment and about combining his finance expertise with helping people and having a social impact. He holds an MA in Politics and International Relations and has been a Chartered Fellow of The Chartered Institute for Securities & Investment (‘CISI’) since 2011.
Stefan joined Fair4All Finance in July 2021 as Programme Manager for the Debt Fund. He previously worked within the private sector, across both management consulting and banking firms, as a project manager. During this time, he has delivered global projects spanning: technology integration; process & control improvements; reporting infrastructure implementation; regulatory initiatives.
Stefan is a GARP certified Financial Risk Manager, obtained the CISI Investment Operations Certificate and has an economics degree from the University College London.
Tamar joined the team in July 2021 as a Programme Manager focussing on Growth and Development Programmes.
Prior to joining Fair4All Finance, Tamar’s career spanned 8 years at PwC in tax and general consulting covering both the private and public sector across a variety of industries including financial services. This included experience working as a project / programme manager on a fund set up by the FCO and the DFID to support economic and governance reforms in developing countries.
Tamar holds a BBA from the International Black Sea University with part of her degree completed in the USA.
Vince joined Fair4All Finance in September 2021 as Programme Manager Propositions. He previously worked for Aviva amassing over 30 years of financial services knowledge across both the Life and General Insurance (GI) businesses. As well as customer facing scale leadership roles Vince has led and delivered a wide variety of propositions across all distribution channels. His regulation and mandatory delivery experience go back as far as Stakeholder Pensions regulation and Employer Pensions Auto-enrolment, to the current General Insurance Pricing Practices market study final regulations published by the FCA in May 2021. Vince also has extensive marketing and business development knowledge which included the lead marketing role for the GI intermediated business when Norwich Union transitioned through to Aviva – gaining industry recognition for the marketing campaign of that year. This role also covered all aspects trade media advertising, channel facing web design and content, all communications, event support, business generating campaigns and intermediary support propositions.
Prior to leading cross channel workstreams on the FCA pricing practices programme he was the Insurance lead for a majority investment into an Insuretech disruptor business and home insurance propositions lead supporting growth onto Price Comparison sites.
Kayleigh joined Fair4All Finance as a Portfolio Advisor in April 2021.
Prior to this, she was working on the management team in a London pub. She has had opportunities volunteering with Black Minds Matter UK, Healthwatch for Young Adults, Enfield Stands Together and Cooking Champions.
She studied at Loughborough University where she obtained a BA in History and International Relations and a MSc in International Financial and Political Relations
Nard joined Fair4All Finance in April 2021 as a Portfolio Advisor. He supports the Investment team in their activities for the different funds. His responsibilities include improving the reporting methodology, assisting in the final reporting on the COVID-19 Resilience fund, and supporting the deployment of the Debt Fund.
Prior to joining Fair4All Finance, Nard completed his MSc. in Science Communication and BSc. in Mechanical Engineering at Delft University of Technology in the Netherlands. While studying, he worked for the Business Development team of the university and the Royal Dutch embassy in Israel.
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.
Ina joined Fair4All Finance in October 2020 as Investment Associate.
She is responsible for managing the Covid-19 Resilience Rund and supporting the Scale-Up Programme.
Prior to joining the team, Ina worked in private equity real estate in London, asset managing a portfolio of European hotel investments and working on acquisitions and developments. She also volunteered in the social sector, providing financial analysis and strategic advice to social enterprises during Covid-19.
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.
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.
Temi joined Fair4All Finance in November 2019 as Executive Assistant + Office + Marketing Coordinator. Prior to joining the team, she worked in private wealth management as a Relationship Manager and an Assistant Relationship Manager serving high-net worth clients in the Middle East and Africa. Before that Temi worked in Social Enterprise UK and Social Firms UK in membership and marketing roles.
Temi has the Investment Advice Diploma, an MA in Social Entrepreneurship and a BSc (SocSci) in Politics and International Relations.
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.
Fozia is Director of Children and Young People at Children in Need. Previously she was the Chief Executive at the Bedfordshire and Luton Community Foundation, a place-based grantmaking organisation . She is a trustee of the Association of Charitable Foundations and the Funders Alliance for Race Equality, advocating for a deeper understanding of inequality and how to effectively address it through funding. Fozia was also part of the National Steering Group of the Local Trust in its research on Empowered Communities in the 2020’s and was Commissioner for the Inclusive Growth Commission in Luton.
Fozia completed a MSc in Grantmaking, Philanthropy and Social Investment from Cass Business School in 2018 and her dissertation was completed with US Foundations. Fozia is currently leading the Diversity Equity and inclusion Coalition of 17 major foundations, implementing DEI frameworks in their work. She was awarded the Charity Times ‘Rising CEO Star’ in 2018 and named as one of the ’25 Most Influential Charity Leaders’ as well as being a Churchill Fellow and a Leadership Fellow at St Georges, Windsor.
Fozia was awarded an OBE in January 2021 for services to the community in Bedfordshire, particularly during the Covid-19 response.
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.
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 and a CBE in 2020 for services to people in financial difficulty.
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 and Vice Chair of the Friends Provident Foundation and a Chartered Director.
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 which provides a wide range of advice, support, education and employment training services for communities across Tower Hamlets. James is also a non-executive Director of Thrive Homes, a housing association.
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.
Mike is a Chartered Accountant and a Fellow of the Association of Corporate Treasurers. Mike is now retired after spending over 34 years in the financial services sector, 26 years of which were with the HSBC Group working in their Luxembourg, Amsterdam, New York and London offices. He held various senior Finance, Risk and Treasury leadership positions with HSBC, including Global Head of Asset & Liability Management, Group CFO roles for the Global Banking division and for Global Private Banking, and Secretary to the HSBC Group Risk Committee. Mike is currently a Trustee and Treasurer of The Papworth Trust, a leading disability charity, and also Trustee and Treasurer of Outward Housing, a charity supporting vulnerable people particularly those with learning disabilities and those on the autism spectrum.
Jennifer is the head of Global Customer Delivery at Mastercard, where she is responsible for the technical implementation of Mastercard’s products and services with clients worldwide. She brings over 30 years of financial services experience, including leading financial inclusion initiatives at scale in developed and developing markets. Jennifer is also committed to an inclusive workforce and has been recognized for her advocacy in advancing women, ethnic minorities and the LGBT community.
Ria has worked in and around social housing for 14 years. She has led numerous organisational-wide change and growth programmes and has experience in public and private sectors, including construction, healthcare and at the English social housing regulator. She is co-chair of the National Housing Federation’s diversity, equality and inclusion group. She oversaw the introduction of the Women in Leadership programme aimed at supporting women working in housing to develop top class management skills.
Ria has a breadth of experience leading human resources, corporate communications, training, community engagement and social mobility teams.
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.
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.