There is no silver bullet to tackling financial exclusion which impacts a significant minority of households in the UK - Responsible Finance
Jennifer Tankard, Chief Executive of Responsible Finance has responded to Guy Opperman MP's article.
There is no silver bullet to tackling financial exclusion which impacts a significant minority of households in the UK.
3% of UK adults are unbanked, and half of UK consumers show one or more characteristic of potential vulnerability. It requires a range of approaches matched to individual needs.
Greater collaboration between all finance organisations could transform the lives of the millions of Britons excluded from mainstream financial services.
Reponsible finance providers and credit unions form a key part of the solution to tackle financial exclusion in the UK by offering affordable credit, help to save and money management advice.
We welcome the new Money and Pensions Service’s commitment to develop a long-term national strategy to improve people’s understanding of money and their ability to manage debt