The techUK Financial Inclusion Working Group investigates the ways technology can be fostered to increase inclusion in financial services. It examines the opportunities to ensure FS products and services can be accessible by all and delivers for all sectors of society. The WG also look at the regulatory landscape across the financial services industry.
Technology has changed the whole financial services industry. It had a lot of impact on the way consumers interacts with banks/FS providers and the services provided. From onboarding to saving and payments, many process and services have been digitised.
This technology shift allowed customers to be in better control of their money and make more/better use of FS. But many consumers are in a difficult situation, do not have access to FS and are therefore excluded from FS.
Many initiatives, such as Open Banking, have the potential boost financial inclusion and help vulnerable/low income families, as well as struggling SMEs. Technology can enable changes that will help fight exclusion in FS.
This new working group will:
- examine the different ways in which technology can boost inclusion in FS;
- learn from working examples from other countries;
- examine the barriers to financial inclusion initiatives;
- work within government and with stakeholders to promote financial inclusion in the UK;
- find out how increase financial inclusion whilst promoting tech innovation.
The techUK Financial Inclusion Working Group will deliver specific activities in 2020.
The Financial Inclusion Working Group membership:
CGI IT UK - Angus Maitland
CGI IT UK - Philip Skinner
CMS Cameron McKenna Nabarro Olswang LLP - Dil-Veer Kang
CMS Cameron McKenna Nabarro Olswang LLP - Ian Stevens
Epson - Dan Bacon
Fujitsu - Keith Webb
Globant - Aurelie Lionet
IBM - Eddie Keal
Infosys Ltd - Yann Gloaguen
Leyton UK - Chris Kiernan
Signly - Mark Applin
Tata Consultancy Services - Rodger Oates
Visa Europe - Tulsi Parida
If you are interested in participating, please register through the techUK portal.