Financial exclusion refers to the inability, difficulty or reluctance to access appropriate ‘mainstream’ financial services including banking, savings, affordable credit and insurance.
Exclusion from financial services means that those who can least afford to do so end up paying more for their basic needs. There are indications that, since the economic crisis, a growing number of consumers are finding themselves excluded.
Financial exclusion disproportionately affects the poorest in our society and is a key component of broader social exclusion.
Social Finance is committed to applying its unique understanding of social issues and financial products to develop effective and affordable scale solutions to financial exclusion in the UK.