Transact: Supporting Financial Inclusion

Sian WilliamsToynbee Hall

Head of Financial Inclusion

A Systemic Approach – the Dual Process

Improve the environment through inclusive policy, organisational capacity building and inclusive

processes

Improve people’s ability to navigate the environment through financial

capability training

Financial Inclusion

Dual Process: The Players

• Policy makers: Setting the boundaries– National and local government– Trade bodies e.g. BBA, Payments Council, ABI, NHF – European Parliament (yes, really!)

• Service providers: Shaping the environment– E.g. RSLs, health providers, schools, banks, lenders– Support organisations e.g. Debt advice, social care

• Individuals/Households: Navigating the environment

Financially Inclusive Tower HamletsFITH taking grass-roots joined-up approach to FI: TH has 3 of

most financially excluded wards in UK despite presence of Canary Wharf, City of London and numerous FI services

Programme is determined by the Steering Group, which anyone can

join. Work streams:

Financial Literacy – e.g. training residents to

become qualified Money Mentors

Comms – promoting

existing services and finding out

what people want/need

Protecting Vulnerable

Adults – addressing

specific needs

Toynbee Hall leading in

partnership with LBTH

50+ partners including housing

providers, JCP, 3rd Sector

Aim: Raise overall level of FI:

Raise levels of financial

capability through training,

volunteering, advice and

support

support orgs to provide better

financial inclusion

offering for service users

and reduce the impact of FE

• MAPT• Evaluation services

and tools

• Accreditation of training and services through quality mark for FI

• Strategy• Training • Process design

• Financial Inclusion Health-check for Organisations (FIHCO) - Diagnosing systemic failure and detriment Tackling

systemic failure

Capacity-building

Assessing Impact

Quality Assurance

Transact: Sustaining the Vision - Organisations

• Collect and represent members’ views on key issues to shape the policy environment - surveys and events

• Conduit for sector funding e.g. BCFF

• Website, events, policy briefing and newsletters etc

• Conducting research - frontline and secondary data

• Research framework-Symposium-Magazine/Journal Deeping

knowledge

Inform and share

Influencing Policy

Funding

Transact: Sustaining the Vision - Sector

Meeting Sector Needs• Provide a space to discuss/debate• Deepen/Broaden knowledge of the problem• Identify and share what works• Diagnose and tackle detriment where it occurs• Improve skills • Assure quality• Change the environment• Provide the means to equip individuals through

effective community-based financial literacy programmes

Discussion Questions:

• What are the barriers you face?• If we do all this, will it help you achieve your

goals?• How could we support you more?