The Drive for Greater Financial Inclusion with TotallyMoney

10/14/22 • 26 min

At a time of economic uncertainty how can we better help the financially under-served and drive greater financial inclusion?

In this podcast we focus on how we can improve consumers’ experience of credit against the backdrop of the cost of living crises, and give them greater confidence in their finances. Joining host Kelli Fielding, VP Consumer Interactive at TransUnion, are Alastair Douglas, CEO of TotallyMoney, and Sarah Taylor, Analytical Consultant, TransUnion.

TransUnion Consumer Pulse research shows 70% of consumers think having access to credit is important to achieve their financial goals, but a recent white paper on the financially under-served, published by TotallyMoney, revealed 1 in 3 UK adults struggle to access mainstream lenders. These research pieces provide the starting point for a discussion that explains what financial inclusion actually means, why it is important, and why it offers lenders an opportunity to materially help improve consumers’ access to lending products, as well as their understanding of their financial situation. Our speakers also discuss advancements in digital customer experience and using innovation to foster loyalty.

Research cited in this podcast can be found below:

[TransUnion: Consumer Credit 2022](Consumer Credit 2022)
[TransUnion: Consumer Pulse Study](Consumer Pulse Study)
TotallyMoney: Overlooked and financially under-served white paper

At a time of economic uncertainty how can we better help the financially under-served and drive greater financial inclusion?

Research cited in this podcast can be found below:

[TransUnion: Consumer Credit 2022](Consumer Credit 2022)
[TransUnion: Consumer Pulse Study](Consumer Pulse Study)
TotallyMoney: Overlooked and financially under-served white paper

Previous Episode

Socially Responsible Gambling Amidst a Cost of Living Crisis

In this episode we turn our attention to the UK gambling industry.

According to UK Gambling Commission research, 43% of UK adults aged 16 and over participated in gambling in year to March 2022 (within a four week period). This includes the National Lottery, sports betting and online slot machines. The UK gaming industry has invested heavily in the move from bricks and mortar to omnichannel, the digital customer experience and adapting to evolving regulation. In this podcast we focus on socially responsible gambling through the lens of updates to UK gambling regulation and the growing cost of living crises. We ask: How can the UK gambling industry better protect consumers in 2022 and in the future?

Joining host Ben Wade (TransUnion) are Luke Sugden (Flutter UK and Ireland), Tom Banks (Kindred Group), Dan Whitlam (GamCare) and Roberta Sossi (TransUnion). The discussion starts with the latest guidance published by the UK Gambling Commission, with our guests identifying key talking points and explaining how the industry is interpreting and responding to them. The conversation moves on to insights into consumer economic behaviour and attitudes, the protections players expect from operators and how this is shaping the digital customer experience. We wrap up by looking to the future and how advanced data insights and regulation could further help consumers and the industry.

Contributors:

Ben Wade, Sector Lead - Gaming, TransUnion
Luke Sugden, Director of Risk and Safer Gambling, Flutter UK and Ireland
Tom Banks, Head of Corporate Affairs UK and Global, Kindred Group
Dan Whitlam, Head of Industry Standards, GamCare
Roberta Sossi, Senior Credit Consultant, TransUnion

Further information:

Read up on TransUnion's ongoing Consumer Pulse research, consumer research Roberta refers to in this episode
Find out how TransUnion works and partners with the gaming industry
UK Gambling Commission June 2022 update: Customer interaction: formal guidance for remote gambling operators

Next Episode

Data Breach: Creating a Contingency Plan for 2023

In this episode of TransUnion's Data, Strategies and Trust podcast series, Mark Read, head of data breach solutions at TransUnion UK, sits down with Ellie Ludlam, partner within the cyber and data risk team at DAC Beachcroft LLP, and Bill Flynn, senior vice president and deputy general counsel at TransUnion International, about the current data breach landscape and how businesses can best respond to 'known unknowns'.

In our e-book, Data Breach Support for Businesses, we reported that 83% of businesses say new working practices mean they fear a data breach now more than ever. With data breaches an ongoing and evolving threat this podcast explores some of the topics that are likely to matter to security professionals and their stakeholders in 2023. Our expert speakers talk through the UK regulator’s position on data breach compensation claims, insights from DAC Beachcroft’s data protection and cyber conference (held in November 2022) and discuss of the some of the main cyber issues facing UK businesses, including ransomware, robust third-party protection and cyber resilience.

This podcast is ideal for cyber and risk experts or senior leaders working with digital teams wanting to learn more about some of the pressing issues and risks within the data breach and cyber crime world, and how they can evolve and sharpen their contingency plans.

Speakers: