1. The Future of Financial Inclusion and Money Advice Sian Williams Toynbee Hall

2. Anti-poverty charity in London’s East End Wide range of work including early policy and practice work on financial inclusion Manage Capitalise, debt advice partnership for London and founded Transact Work at three levels in financial inclusion: – Front-line services for the vulnerable and excluded – Organisational change and improvement – Policy (govt and financial services sector)

3. The Future for Front-line Services Reduced funding requires us to work even smarter Strong emphasis from funders (statutory and trusts) on value for money Increased pressure on front-line organisations to deliver more for less Need to identify our USP and work with those groups for whom we are best able to bring about sustainable change Greater need for joined-up working across geographical and interest groups - holistic solution Essential to harness organisational resources

4. The Future for Organisational Change Service providers who work with our key client groups are also under financial pressure Business case models are now “must have” rather than “nice to have” Providers of financial and essential services are central to a holistic solution Clear leadership from the top is crucial to sustainable change Worrying to see FI teams in e.g. RSLs being cut

5. The Future of Policy Former central govt led policy replaced by looser govt structure and shift of emphasis to third sector and service providers Threat or opportunity? Clear need for sector to take the lead and drive our work forward Risks of drift and slipping down the agenda But some areas of govt and financial services are still very engaged – DWP, MAS

6. Our Response – Front-line Focus our work into three clear strands – Local: Financially Inclusive Tower Hamlets – Young People: Money for Life – Access and support for most vulnerable and excluded: MyMoney Centre Support the sector through developing measurement and evaluation frameworks and tools – FWMT and RBS Innovate

7. Our Response - Organisational – Attempting to change the environment in which our key service users live and work – Working directly with service providers – RSLs, Health Providers, LAs etc – to analyse their frameworks and delivery – Financial Inclusion Health-check for Organisations (FIHCO) – Strategic and practical suggestions for change and improvement so service providers have a positive impact on their service users’ financial well-being – FITH is working on this at the borough level – over 40 organisations – Working with financial services providers at the strategic as well as operational level – LBG FISG

8. Our Response - Policy Be proactive – Transact engaged with the FITF before it ended to take forwards work on banking data and research Be opportunistic – the policy debate is open for influencing – key areas of: savings affordable credit integrating debt advice and financial capability Genuinely inclusive financial services that meet needs e.g. jam jar accounts, insurance and savings products