UK’s leading payments community lobbied for new ministerial role to end financial exclusion
The Emerging Payments Association (EPA), the UK’s leading payments community, today commends the UK government for the appointment of Guy Opperman as the UK’s first Minister for Financial Inclusion.
Over the last year, the EPA has lobbied parliament and peers in the House of Lords with strong recommendation to the government for a Minister for Financial Inclusion to promote greater access to sustainable financial services for every citizen. Responding to the news that Guy Opperman has been named as parliamentary under-secretary for pensions and financial inclusion following the post-election reshuffle, the EPA’s Project Inclusion taskforce is pleased its extensive lobbying efforts and recommendations have been taken on board.
“This is a superb step forward for the consistency of policy execution and the reformation of the welfare state that affects millions of lives across our country,” added Tony Craddock, Director General of the EPA. “We see the opportunity to combine affordable credit alongside an e-money transactional account to be the next big step in delivering on the UK’s need for greater financial inclusion.”
Currently there are around 1,700,000 adults in the UK without a bank account, either through lack of access or due to poor credit.
“We are delighted with the appointment and look forward to working with MrOpperman to support addressing the challenges that millions of people face every day in accessing inclusive financial services,” said Neil Harris, Financial Inclusion Project Chair at the EPA. “Together with our membership and extended network, the Emerging Payments Association represents hundreds of FinTechorganisations who offer the latest innovations in technology, budgeting and financial reward solutions. The Project Inclusion taskforce is uniquely placed to work with government to help execute policy, whilst offering choice and access to sustainable financial products that ensure that the benefit pound goes further.”
EPA members actively support UK government initiatives in social welfare reform, as well as offering financial products to individuals who are underserved or overcharged by the mainstream. To find out more, or to join the Emerging Payments community