Financial Inclusion Commission

The powerhouse behind financial inclusion, Chris Pond, Chair of the Financial Inclusion Commission, is joining us as a Speaker at The 3rd Financial Innovation Forum - Payments & Regtech on 19 September 2024 at the Sheraton Grand Park Lane in Mayfair, London, United Kingdom. Chris will be sharing his valuable insights through the panel session titled: “Financial Inclusion” Key Discussion Points Include: » The use of data and analytics to improve financial inclusion » The role of partnerships in promoting financial inclusion » Addressing regulatory and policy barriers to financial inclusion To register and access the full agenda: https://bit.ly/3xgoTk8 For further details on registration, please contact info@qubevents.com *Earn up to 7 CPD Points, Certification provided! #qubevents #FinancialInclusionCommission #financialinnovation #Payments #RegTech #LondonEvents #FutureofFinance #Networking #RegisterNow #JoinUs #UK #Innovation #conferences #cfo #ceo #leaders #financialservices #finance #fintech #forum #sponsor #meeting

We’re excited to welcome Pooja Bhachu as our newest commissioner at the Financial Inclusion Commission! As Director of Public Policy, UK&I at Mastercard, Pooja has championed financial and digital inclusion for people and small businesses across the UK and EU. With 17 years of experience promoting equity and inclusion, she’s led key initiatives to address policy gaps and drive payments innovation for inclusive growth. Her leadership as Chair of The Payments Association’s Project Inclusion and her deep commitment to equity make her a fantastic addition to our team. We look forward to working together to advance financial inclusion across the UK. Welcome, Pooja! #FinancialInclusion #InclusiveGrowth

Update: Research on Financial Exclusion across the Four Nations 📢 You may have seen that this year we commissioned new research from CHASM - Centre on Household Assets and Savings Management supported by funding from Mastercard. CHASM's research extends the summary report we introduced during the election campaign: Fixing Financial Exclusion across the Four Nations. Following this work, we are delighted to see growing political support for a National Financial Inclusion Strategy 👏 Stay tuned as we continue to share the impactful findings from this research. We eagerly anticipate discussing these insights in greater detail at an upcoming event we are planning towards the end of the year. #FinancialInclusion #Research

We, the Financial Inclusion Commission (FIC), are today excited to welcome the new Labour Government's commitment to a National Financial Inclusion Strategy. This crucial initiative aims to tackle financial exclusion and enhance resilience across the UK. In January, the new Labour Government published its 'Plan for Financial Services,' highlighting some alarming statistics: over 1 million people in the UK lack a bank account, and 14 million have less than £100 in savings. Addressing these critical issues will significantly improve the nation's financial resilience. Today we released a statement that includes a comment from our Chair, Chris Pond: “The extent of financial exclusion is a source of shame for a country that prides itself on being a global leader in financial services. We cannot go on with a two-track system with a globally successful financial services sector on one hand, but millions of people who cannot access basic products and services on the other”. We need a comprehensive strategy to ensure everyone has access to essential financial services, fostering #InclusiveGrowth. At FIC, we are committed to working alongside other campaigners and partners to engage with the new Government. Together, we aim to ensure that all UK citizens can contribute to economic growth and lead financially fulfilled lives. Learn more about our mission and the steps we are taking by visiting our website and reading today's statement in full: https://lnkd.in/e9jA6c4N #FinancialInclusion #GeneralElection #FinancialResilience #InclusiveEconomy

Many thanks to MoneySavingExpert.com for their support as we launch our new report developed in partnership with CHASM - Centre on Household Assets and Savings Management. The report calls on the next UK Government to bring forward a National Financial Inclusion Strategy across the UK which includes: - Better access to essential financial services, including bank accounts, digital inclusion, physical cash, and face to face services for those who need them.   - Building people’s financial resilience, with households saving for a rainy day and having essential insurance to help them through life’s ups and downs.   - Affordable and well-regulated credit, reducing the number of people in unaffordable debt or turning to illegal lenders.   - Better support for those at risk of financial problems, including people at risk of scams or unaffordable debt.   - Promotion of saving for retirement and social care, as the age profile and needs of our population change over the coming years.  Martin Lewis has long campaigned that financial inclusion be made a priority. Speaking to the cross-party House of Lords Liaison Committee in 2021, Martin said: "We need far more senior, powerful and invested government in financial inclusion. Because it is the bedrock of employment. It is the bedrock of being a consumer and, frankly, it is the bedrock of being a citizen." The FIC shares this sentiment that by prioritising financial inclusion, we can unlock significant opportunities for inclusive economic growth, enhance household financial resilience, and reduce the social and economic costs associated with financial distress.  https://lnkd.in/eJS-8_Wb 

While our financial services sector stands out as a UK success story, millions live in its shadow, excluded from the system with limited access to basic services. Shockingly, one million people do not have access to a bank account and more than one in five have less than £100 in savings. I first became interested in this issue while serving as an MP nearly thirty years ago. From single parents struggling to make ends meet to young people facing challenges getting on the property ladder, I witnessed first-hand the difficulties experienced by the most vulnerable groups in our financial system. Now thirty years later, the same issues persist. Closing the financial inclusion gap requires a cross-cutting strategy led by the UK Government. Such a strategy could unlock inclusive economic growth, prevent financial distress, and reduce costs to the NHS and social services. This must be a first 100 day priority for the next government.

Latest #debt sector news: Financial Inclusion Commission calls on next UK Government to bring forward a National #FinancialInclusion Strategy: https://bit.ly/4c0T9PP #moneyadvice #debtadvice #financialexclusion #financialdifficulty #financialinequality #financialwellbeing

Today, we're calling on the next UK Government to bring forward a National Financial Inclusion Strategy to address the high levels of financial exclusion across the UK.  We've launched a new report summarising research we commissioned from CHASM - Centre on Household Assets and Savings Management assessing financial exclusion across the four nations. Link in comments 👇 Thank you to commissioners Charles Randell, Baroness Claire Tyler, Howard Taylor, John Howells, Johnny Timpson OBE, Bailey Kursar and to Chair Chris Pond and Vice Chair Sian Williams for taking the time to film for this short video. Thanks also to our other commissioners for their contributions: John Godfrey, Danielle T., Laurie Edmans CBE, Seema Malhotra FRSA, Kelly Devine and Pooja Bhachu, and to Mastercard for their financial support with this project, as well as Adele Atkinson and Louise Overton who led the research, which will be released in full in the autumn. #FinancialExclusion #FinancialInclusion #GeneralElection

Today we're launching a new report calling on the next UK Government to bring forward a National Financial Inclusion Strategy. Our report, Fixing Financial Exclusion across the Four Nations (link in comments), summarises research we commissioned from CHASM - Centre on Household Assets and Savings Management that will be released in full this autumn. Our research revealed millions are still underserved by financial services, impacting their wellbeing and economic participation. You can find a link to the report in the comments below. We've written to Jeremy Hunt and Rt Hon Rachel Reeves, as well as representatives of all major UK parties, to urge them to prioritise financial inclusion if they form the next UK Government. #FinancialExclusion #UK #FinancialExclusion #GeneralElection

A few personal finance thoughts. The rise and rise of home insurance premiums. Why we should strive for national financial inclusion - and if you are a member of Nationwide Building Society, do vote on July 17. Enjoy your Sunday.