Fair4All Finance – Call for Evidence for an Independent Quadrennial Review commissioned by the Oversight Trust

Quadrennial Reviews

The Oversight Trust is responsible for overseeing the companies that have received funding under the English allocation of Dormant Asset monies that have been distributed to-date. Each year we commission a review and report on one of the four Operating Companies (in turn) with a view to assessing how effective they are in achieving the mission they were set up to deliver.

This year we are launching the Quadrennial Review of Fair4All Finance, and we want to hear what you think.

Please note that this Review is entirely separate from the consultation organised by DCMS on how any monies should be allocated under the Dormant Asset Act 2022.

The Panel set up to perform the review comprises: Keith Leslie (Chair of Samaritans); Danielle Walker Palmour (Chief Executive of Friends Provident Foundation) and Claire Brown (formerly Finance and Investment Director at Esmee Fairbairn). Fiona Young Priest (formerly Head of Finance and Resources at the Tudor Trust) will act as Secretariat for the Review.

Fair4All Finance

Founded in 2019, Fair4All Finance’s vision is of a society where the long-term financial wellbeing of all people is supported by a fair and accessible financial services sector. Its mission is to increase the financial resilience and wellbeing of people in vulnerable circumstances by increasing the availability of fair and affordable financial products and services.

To date, £100 million of dormant asset monies has been allocated to the company to deliver on this mission of which £51.5 million has been drawn under the grant agreement since the formal approval of its business plan in late December 2019.

Review Process

Over the coming weeks the Review Panel will look at Fair4All Finance’s key achievements and consider strategic issues where it believes further attention may be required for sustained success. The review will consider how successful the organisation has been so far in its approach to delivering its stated aim of ‘increasing the financial resilience and wellbeing of people in vulnerable circumstances’ through systems change and look at its value for money in meeting its objectives.

The Review Panel will approach many stakeholders directly, and all interested parties are invited to respond by providing input to the process in writing. Responses received and any subsequent interviews with participants will be treated in confidence by the Panel and the Secretariat running the review and not shared with the organisation.

The Panel would be interested in hearing your experience of working with the organisation and/or your views on how successful Fair4All Finance has been in beginning to address some of the key areas that it has identified as its strategic priorities, which are to:

  • expand the provision of affordable credit
  • partner with banks and financial services providers to increase the provision of services
  • develop new products and services to address market gaps

Call for Evidence

Please send your response or request for further information to quadrennialreview@oversighttrust.org by 30 September 2022.

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