It’s been ten years since the last big report on Financial Inclusion in the UK. Over the last decade, the financial services industry has evolved rapidly with new and innovative technologies helping to tackle financial exclusion. These new solutions are helping to drive inclusive financial solutions and expanding their reach and social impact. Yet the affects of the pandemic, and continuing cost of living challenges over the past few years mean many people are still financially underserved or excluded not only from these innovations but from appropriate financial services.
We discuss what has changed, but more importantly, what gaps remain? And what should be the main priorities to tackle financial exclusion over the next five years?
Pooja Bhachu, TPA’s Inclusion Working Group Lead & Director, Public Policy at Mastercard, discusses the group’s work on Community Finance and what the next generation of inclusive financial services could look like.
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