Financial inclusion - Long Reads, News, Articles & Research: Finextra

Why aren’t older adults in the US equipped to handle financial shocks?

A study from the Aspen Institute revealed that 47% of older adults in the US are not prepared to handle financial shocks, such as medical expenses, emergencies, or a sudden loss of income. The study outlines how older individuals are relying on financial tools that take advantage of them by abusing penalties, interest rates, and fees, in order to ...

20 August 2024 /inclusion

Anne Boden on supporting female fintech founders

Níamh Curran Senior Reporter at Finextra

Anne Boden on supporting female fintech founders

For International Women’s Day (IWD) this year, we spoke to a woman who is the poster child of female success in the fintech world, Anne Boden. In June of last year, Boden stepped down as CEO of Starling after founding the challenger bank 10 years prior. Yet Boden has been busy recently. Last week she launched her third book, Female Founders’ Playbo...

08 March 2024 /inclusion

How are bank closures impacting local communities?

Sehrish Alikhan Reporter at Finextra

How are bank closures impacting local communities?

Following the news of HSBC installing its first ever ‘cash pod’ in Nasilea, North Somerset comes the questioning of how the general public will gain access to cash among numerous bank branch shutdowns. HSBC announced the closing down of 114 bank branches in the UK from April 2023, reporting the reason for the closures due to low footfall for in-pe...

07 February 2024 /inclusion

How migrant banking’s expansion means different approaches in US vs. Europe

Scott Hamilton Contributing Editor at Finextra Research

How migrant banking’s expansion means different approaches in US vs. Europe

Migrant banking solutions, or banking for refugees and other recent arrivals, have been increasing in type and number in both Europe and the US for a while now. However, the number of programs available to new entrants to the Eurozone is far more numerous, especially on a per capita basis, than in America. There are some key differences in product...

12 January 2024 /inclusion

Generative AI cannot replace branch banking – Niamh’s hot take of the month

Níamh Curran Senior Reporter at Finextra

Generative AI cannot replace branch banking – Niamh’s hot take of the month

NatWest announced in November 2023 that they were integrating generative AI into their chatbot tool Cora, which saw the launch of Cora+. Generative AI has been one of the hottest topics throughout 2023, and that is only likely to continue into 2024 as companies like OpenAI expand their products and capabilities. The technology offers a lot of ...

13 December 2023 /inclusion /ai

Inclusiv: financially underserved most impacted, yet climate mitigation programmes achieve success

Scott Hamilton Contributing Editor at Finextra Research

Inclusiv: financially underserved most impacted, yet climate mitigation programmes achieve success

Credit Union intermediary says members hit hard by climate change have developed innovative solutions, warranting them prime seats at policy and funding table. In the second part of our feature on Community Deposit Financial Institution (CDFI) and financial inclusion empowerment advocate Inclusiv, Finextra examines the New York City-based organizat...

20 July 2023 /inclusion

Unbanked, financially-excluded find Inclusiv a powerful ally

Scott Hamilton Contributing Editor at Finextra Research

Unbanked, financially-excluded find Inclusiv a powerful ally

Inclusiv is an organization that combines deep know-how with dynamic, on-the-ground local partner support in its surprisingly effective approach to reinventing financial services and making the ‘system’ work – in many cases for the first time - for millions of individuals who’ve often been considered ‘not up to standard’ by traditional banking pla...

13 July 2023 /inclusion

Financial trauma impacts huge population of underserved in society

Scott Hamilton Contributing Editor at Finextra Research

Financial trauma impacts huge population of underserved in society

Connie Davis, founder and CEO of Kairos Digital Commerce Consulting, is concerned about what the ‘shadow financial system’ of payday loans and other services like them means to the underbanked, over both the short and long terms. She points out that research from many authorities has shown a direct link between emotional health and financial healt...

09 June 2023 /inclusion

Stellar solutions available for ‘honest’ credit-building

Scott Hamilton Contributing Editor at Finextra Research

Stellar solutions available for ‘honest’ credit-building

As part of a continuing series, we reached out to some innovative thinkers and organisations on the forefront of serving the unbanked, the underbanked, and others, estimated at 150 million people, who have either been consciously excluded or experienced barriers to entering the traditional banking system in the United States. One company trying to...

08 June 2023 /inclusion

Financial inclusion in the US: how to fulfil the unbanked, underbanked and unserved

Scott Hamilton Contributing Editor at Finextra Research

Financial inclusion in the US: how to fulfil the unbanked, underbanked and unserved

As part of a continuing series, Finextra is reaching out to some innovative thinkers and organisations on the forefront of serving the unbanked, the underbanked, and others who have either been consciously excluded or have experienced barriers to entering the traditional banking system. It’s estimated that more than 150 million people are underban...

10 May 2023 /inclusion

How can fintech firms in the UK do more for financial inclusion and wellness?

Madhvi Sonia Head of Content at Finextra

How can fintech firms in the UK do more for financial inclusion and wellness?

While rising costs could create new challenges for financial inclusion, regulation plays an important role in driving financial inclusion and improving outcomes for individuals and communities. Financial inclusion is a complex issue that requires strong partnerships and collaboration across the government, regulators, and other organisations such ...

19 April 2023 /inclusion

Should credit models that offer greater financial inclusivity be created?

Madhvi Sonia Head of Content at Finextra

Should credit models that offer greater financial inclusivity be created?

This is an excerpt from The Future of Fintech in the UK 2023: An Innovate Finance Global Summit and UK Fintech Week special edition' report. Sugihara also mentioned that millions of borrowers across the UK continue to be locked out of mainstream credit or are forced to accept credit products that don’t suit their needs, may be inappropriate, or th...

19 April 2023 /inclusion

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