By: Javier Ampuero
A new finance news programme called «Equity and Inclusion» was launched on 6 December in the UK and launched at FinTech Connect in London.
The programme explores those in the financial sector who are making a big positive difference with a focus on prioritising people with education and access to drive more equitable and inclusive skills.
According to Innovate Finance, ITN Business «In the UK 8 out of 10 people use at least one FinTech tool on a recurring basis». Even 98% of the FinTech ecosystem is having a positive impact on the implementation of the UN Sustainable Development Goals.
The economic outlook is still uncertain, but there are ways to create a fairer financial future for all and the programme showcases the organisations and companies leading the way.
The number of displaced people around the world is increasing and the barriers to accessing financial services are a major challenge that must change to help refugees become financially independent.
It is true that, within these barriers for the market and individuals, there are solutions that decrease these mishaps to access financial services, such as the following Fintechs:
Zopa Bank, highlights its role in the inclusion and equity programme, helping to fund financial wellbeing workshops to help people, including vulnerable groups, and its TikTok campaign which offers personal finance advice and helps spread the message further.
Creditspring, a FinTech that is dedicated to taking the confusion out of debt and making it easier to understand. The benefits of a Creditspring membership include credit tips and a monthly financial stability score. This Fintech’s contribution to the Inclusion and Equity programme is its member lending service, which offers short-term, interest-free loans for a fixed monthly fee, as well as financial education to help people regain control of their money and avoid mounting debt.
The subscription economy is growing at a rapid pace, but consumers are increasingly looking for flexibility and transparency.
Minna Technologies is one of the companies at the forefront of this revolution, creating intuitive ways to make life simpler. It partners with top-tier banks, financial technology companies and subscription companies, helping them to drive engagement and improve the experience of more than 50 million subscribers worldwide.
The contribution of these Fintechs is a great first as Kore Labs has also been the first SaaS solution dedicated to end-to-end product management in financial services, and they have raised over £9 million. They use technology to support financial institutions, ensuring products are constantly monitored, freeing up employee time and delivering better outcomes for customers by using technology to digitise the management of products, whether bank accounts, credit cards, mortgages or investments, to improve the way financial services do business.
Mastercard Technology can help the excluded and under-represented to access financial services. Even a new app and debit card developed by Mastercard and the Alzheimer’s Society helps people living with dementia to become financially independent while providing peace of mind to their carers.
As Evolution Labs UK we will continue to work to ensure that more Fintechs and traditional financial institutions continue to work collaboratively and contribute to the equitable and inclusive development of society.
SOURCE: Innovate Finance, ITN Business