Transact: Supporting Financial Inclusion Sian Williams Toynbee 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 Hamlets FITH 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, 3 rd 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?