Working together to permanently improve the way financial services supports people vulnerable circumstances.
With at least 17.5m people in the UK in financially vulnerable circumstances, it’s clear the goal of financial inclusion for all will only be achieved through a collaborative effort.
On Monday 19 June a new Financial Inclusion Action Group met for the first time to discuss the drivers of financial exclusion and how targeted cross sector collaboration can create a fairer financial services system.
Senior representatives from a wide range of commercial and not for profit providers came together to discuss a new sector wide Financial Inclusion Plan which we’re publishing today.
This plan outlines activities to address the underlying issues of financial exclusion, who needs to lead on them and how coordinated action is the key to success.
We’re grateful to HM Treasury and the FCA for attending as observers and it’s really encouraging to have so many of the major players around the same table talking about taking action on financial inclusion.
Fair4All Finance have developed the Financial Inclusion Plan over the past year through broad consultation about how our dormant assets funding should be used to improve financial inclusion across the UK. It is very much a plan for the whole sector, owned by the sector, along with anyone with an interest or influence in creating a fairer financial services system.
The Financial Inclusion Action Group will own the delivery of the plan and how it develops. Fair4All Finance will drive the actions pointing our way and continue to convene stakeholders and champion financial inclusion, the need for systemic change and collaborative working.
The link to the plan is below. Please take some time to read, digest and consider how you or your organisation can support the mission to create a fairer financial services system that provides everyone with the right products and services, when they need them.
We are very happy to crowd source ideas to make the plan stronger, to get offers of support or other input that can help us improve financial inclusion. Email Jake Attfield at firstname.lastname@example.org to get involved.
Together we can keep making a difference to the lives of millions of people.