Views
1 year ago

CSFI

CSFI+-+Reaching+the+poor+-+release+version

C S F I / New York

C S F I / New York CSFI The Centre for the Study of Financial Innovation is a non-profit think-tank, established in 1993 to look at future developments in the international financial field – particularly from the point of view of practitioners. Its goals include identifying new areas of business, flagging areas of danger and provoking a debate about key financial issues. The Centre has no ideological brief, beyond a belief in open markets. Trustees David Lascelles (Chairman) John Hitchins Mark Robson Carol Sergeant Sir Malcolm Williamson Staff Director – Andrew Hilton Co-Director – Jane Fuller Senior Fellow – David Lascelles Programme Coordinator – Angus Young Governing Council Sir Malcolm Williamson (Chairman) Geoffrey Bell (NY) Rudi Bogni Philip Brown Abdullah El-Kuwaiz John Heimann (NY) John Hitchins Rene Karsenti Henry Kaufman (NY) Walter Kielholz Sir Andrew Large David Lascelles John Plender David Potter Belinda Richards Mark Robson David Rule Carol Sergeant Sir Brian Williamson Peter Wilson-Smith CSFI publications can be purchased through our website www.csfi.org or by calling the Centre on +44 (0) 20 7621 1056 Published by Centre for the Study of Financial Innovation (CSFI) Email: info@csfi.org Web: www.csfi.org ISBN: 978-0-9926329-8-4 Printed in the United Kingdom by Heron Dawson & Sawyer CSFI / New York CSFI E-mail: info@csfi.org Web: www.csfi.org

CSFI Contents Foreword.................................................................................................................................1 Sir Hector Sants...................................................................................................................1 Introduction............................................................................................................................3 Box 1: The Financial Inclusion Commission (Sir Sherard Cowper-Coles)...................4 Box 2: Insight from emerging markets..............................................................................7 Chapter One: What is financial inclusion?.......................................................................9 Box 3: Financial exclusion and financial stress - some facts and figures.....................10 Box 4: The Archbishop of Canterbury’s Task Group on Responsible Credit and Savings (Christine Allison)...............................................................................................11 Chapter Two: The problem of short-term credit...........................................................15 Payday lenders and loan sharks...................................................................................16 Box 5: Payday lending and regulation (Russell Hamblin-Boone)................................20 Rent-to-own......................................................................................................................21 Box 6: Rent-to-own – New initiatives.............................................................................23 Other new short-term credit initiatives.......................................................................25 Box 7: Affordable lending portal.....................................................................................26 Box 8: Sheffield Money (Rob Shearing).........................................................................27 Chapter Three: The other side of the coin: savings and financial advice..................29 Savings...............................................................................................................................29 Financial advice...............................................................................................................30 Chapter Four: Are credit unions the answer?................................................................31 Box 9: The Task Group and credit unions (Dr. Malcolm Brown).................................31 Box 10: The future for British credit unions and financial exclusion (Matt Bland)....32 Box 11: Large credit unions lead the way (Kenny MacLeod)......................................34 Box 12: Innovative lending solutions within the credit union sector (Gareth Evans).37 Chapter Five: Can FinTech Offer a Solution?...............................................................39 “Moonshots”: Open banking, platform banking and financial inclusion............39 “Back to Earth”: FinTech and financial inclusion today.........................................41 Box 13: The main barriers to developing and scaling up Innovations..........................43 Chapter Six: Where do we go from here?.......................................................................44 Box 14: The role of regulation (Mick McAteer)............................................................45 Annex: The Church Credit Champions/Just Finance Network.................................49 CSFI: Financial Inclusion Roundtables (2013-2016)....................................................50 CSFI E-mail: info@csfi.org Web: www.csfi.org

How to Take out a Loan
Profiting from Poverty - National People's Action
consumer guide to payday lending - Virginia State Corporation ...
Commercial Mortgage Texas
Standard & Poor's releases quarterly roundup ... - Securitization.Net
eUrOPeAN reAL eStAte LeNDiNG SUrVey - Cushman & Wakefield ...
Consumer Lending in Ukraine: Surveying the Landscape - FINREP
MIND THE GAP - Community Development Finance Association
gpi-policy-report_improving-finance-for-smes - Global Policy Institute
On the margins Keeping the plates spinning - Consumer Focus
The Farmers' Guide to Agricultural Credit - Colorado State University ...
THE FOREST FOR THE TREES
Peer to Peer inside_rev.indd - Filene Research Institute