Reaching the Poor: The intractable nature of financial exclusion in the UK.
A new report by the Centre for the Study of Financial Innovation, a non-profit think tank that looks at the future developments in the international financial field.
This report offers a commentary on key aspects of the state of financial inclusion in 2016 and on the direction of travel. It includes contributions from practitioners and other experts in the field, and the themes include new initiatives and innovations, competition and regulation, and the tension between the need that providers see
for financial sustainability and the particular circumstances of low/volatile income customers. Some of the issues raised have been around for years, while others reflect the changing face of financial services – and of British society. In a nutshell, this report suggests that the mainstream financial services industry, including credit, savings and insurance providers, have still not found a way consistently to meet the needs of customers with low or volatile income.
Principle author of report is Christine Allison, Financial Inclusion Fellow, CSFI
Report originally published at www.csfi.org