Fair4All Finance

There's still time to register for our free webinar to better acquaint yourself with our Good Lending Guide, why we created it and how to use it. Register via eventbrite here 👉 https://lnkd.in/eF8Y8c9p

Recently we brought together 200 leaders from across financial services, community finance, public sector and third sector organisations at our 'Building Financial Inclusion Together' conference - our first ever #FinancialInclusion conference. Here are our six key takeaways from the day. What were yours? Read the article here 👉 https://lnkd.in/etaCxvZF

We're pleased to share the news that our very own Kate Pender, Deputy CEO, will be stepping up as CEO of Fair4All Finance from September. Kate has been with the organisation since we were formed in 2019, leading on our work to grow the resilience and capability of community finance lenders, and most recently leading the £40m development, delivery and testing of new propositions that support customers in financially vulnerable circumstances, including our No Interest Loan Scheme and consolidation lending pilots. This was a highly competitive process which saw over 100 applications for the role. Kate will be stepping up from her current role as Deputy CEO in September as our current CEO Sacha Romanovitch steps down after a successful 5 years of developing strong relationships with the financial services sector, building a strong evidence base for financial inclusion and delivering investments, programmes and propositions that are making a real difference to people’s lives. 👉 More information here: https://lnkd.in/eB6pR4kX

Our Good Practice Lending Guide has been written to support lenders with the credit risk management aspects of running a consumer credit business effectively. We developed this Guide with our partner Jaywing, who bring their extensive expertise in best practice for managing lending and credit risk. The Guide comprises 15 modules, covering credit risk activities that impact the customer journey, governance and regulatory compliance and management information (MI) to support informed decision making. We're holding a free webinar on Wednesday 31 July to share more information about the Good Practice Lending Guide, the purpose of the guide and how to use it. We will also have deep dives into a couple of the modules of the guide to explore in more detail how it can be of use to you/your organisation. There will also be an opportunity to ask questions and hear about wider support that may be available going forward. Register here: https://lnkd.in/eF8Y8c9p

📹 Here's our Deputy CEO, Kate Pender speaking at 'Change 2024', ClearScore's summer event. Kate outlines our partnership and major investment in debt consolidation loan technology to boost access to affordable credit by £0.5bn and help an additional 160,000 people by 2028. ClearScore’s proposition ‘Clearer’ allows direct settlement of consumer debts, unlike most other debt consolidation loans, thereby eliminating the risk that the funds are not used to pay off existing credit cards and loans. It is expected that rolling out this debt consolidation proposition at scale will significantly expand access to loans, reduce interest rates paid by borrowers, reduce risk for lenders and ultimately help hundreds of thousands of borrowers. https://lnkd.in/eQ2eFffp

With 20.3m people on financially vulnerable circumstances, it's important to highlight organisations that provide help and can change lives. The Big Issue spoke to Vicky, a mum-of-three who was able to put a deposit down on her house using a credit union, who said that access to financial services are a “great help”. https://lnkd.in/eaheRHkz

This time last week was the first Fair4All Finance industry conference on tackling financial exclusion Here we unveiled the new and increased figure for the number of people in financially vulnerable circumstances - an enormous 20 million people. That is larger than the population of the Netherlands (17million). The scale of the issue mean it's something no individual organisation or sector can address alone. Which is why it was brilliant to bring together over 220+ industry experts to discuss how we can collaborate and innovation to address consumer need. The day was full of ambition and energy about how we can solve some of these systemic issues facing people in financially vulnerable circumstances. Many thanks to all our speakers and contributors Lloyds Banking Group NatWest Nationwide Building Society Yorkshire Building Society Three Hands Financial Inclusion for Scotland Financial Conduct Authority Enterprise Credit Union Nest Insight Shelter Money and Pensions Service Clearview

New research from Fair4All Finance, Trajectory and CACI reveals how nearly half of all UK adults are now living in financially vulnerable circumstances – an increase of around 3 million over the last year. This means that over 20 million people are now firmly in one of our 6 segments of financial vulnerability. These segments have been designed to support organisations to better understand, serve and design for customers in financially vulnerable circumstances, a market that has seen significant growth in the last year. Visit our Segmentation hub to learn more, and to download useful tools and resources. Learn more about this research, and access our tools and resources on our website: https://lnkd.in/e5Zf2Fyu

Today we're pleased to announce a new partnership with ClearScore, the financial services marketplace, linked to our consolidation lending pilot, to boost much needed access to #affordablecredit by £0.5bn, helping an additional 160,000 people by 2028. This funding will develop unique debt consolidation loan tech & help lenders serve more people in financially vulnerable circumstances. Clearscore's 'Clearer' allows direct settlement of consumer debts, eliminating the risk that the funds are not used to pay off existing debt. We hope that this will significantly expand access to affordable credit, reduce interest rates paid by borrowers and reduce the risk to lenders. With millions of people financially excluded in the UK, fair and affordable credit is a vital safety net that many can’t access. https://lnkd.in/e3WPwmnp

#Collaboration is central to tackling financial exclusion. Today's Fair4All Finance conference asks what do we need to do next to build #financialinclusion. The #tech is available, so what do we need from government, industry and civil society? The whole sector can play a part in boosting inclusion and making this happen #ficonf24 Now listening to Prof Martin Coppack on #povertypremium along with Greg Sachrajda Iona Bain and Surina Somal