The Centre for the Study of Financial (CSFI) Innovation has released a new report outlining the battle against financial exclusion in the UK.
The report gives an overview of the state of financial inclusion in 2016 l. It includes themes, new initiatives and innovations, competition and regulation. It also highlights financial sustainability issues and the particular circumstances of low/volatile income customers. Some of the issues raised have been around for years, while others reflect the changing face of financial services – and of British society. The report suggests that the mainstream financial services industry, including credit, savings and insurance providers, have still not found a way consistently to meet the needs of customers with low or volatile income.