Except from http://en.wikipedia.org/wiki/Financial_exclusion
Financial exclusion is the unavailability of banking services to people living in poverty. It is believed to be one factor preventing poor people from exiting poverty, by forcing them to manage their finances on a cash-only basis and restricting their access to equitable sources of credit.
Except from http://en.wikipedia.org/wiki/Financial_inclusion
Financial inclusion (or inclusive financing) is the delivery of financial services, at affordable costs, to sections of disadvantaged and low income segments of society.
An online "app" to help 8m households apply for the new universal credit, integrating tax credits and out-of-work benefits, is being developed as part of one of the most hazardous and ambitious IT programmes ever undertaken by government.
My take on it
Financial inclusion should be available to everyone. Income should flow in and bills paid out. Advice should be available at every stage.
What prevents this? Complexity, poor communication and lack of understanding.
Can technology help? Lets find out.
At UK Gov Camp 2012 I sat in a room with the following people: -
Ben Proctor, Consultant, Likeaword
Brett Husbands, Chief Executive Officer, Firmstep
Carrie Bishop, Director, FutureGov
Jayne Hilditch, Corporate Services Director, Thames Valley Housing
Mark Tyson, Group Manager - Health Governance & Partnerships, London Borough of Barking & Dagenham
Shirley Ayres, Public & third Sector Digital Strategy & Communications, Focused on Learning
Stefan Czerniawski, Acting Director for Service Design in Universal Credit, Department for Work and Pensions
By the end of the session I had drawn this: -