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Access to Financial Services in the UK

Lowe, Jonquil; Collard, Sharon; Martin, Coppack and Simon, Sarkar (2016). Access to Financial Services in the UK. Financial Conduct Authority, London, UK.

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In a market-based system, consumers do not have an automatic right to
receive products and services, nor firms an obligation to provide them unless specific universal obligations are legislated for (for example in telecoms). This means it is often not obvious who should take responsibility for access issues. One of this paper’s key purposes is to explore which stakeholders may be able to drive improvements and, in particular, how much access issues may come within the scope of the financial regulator. It aims to open up discussion about the nature, scale and impact of access issues, and how to resolve them, using four key areas as examples: digital innovation, compliance and crime prevention, automated processes and segmented markets. The paper develops a new taxonomy of access issues, tracing each type through to appropriate solutions.

Item Type: Other
Copyright Holders: 2016 Financial Conduct Authority
Project Funding Details:
Funded Project NameProject IDFunding Body
Access to Financial Services in the UKNot SetFinancial Conduct Authority
Keywords: consumers; financial exclusion; financial inclusion; financial services; access; regulation; social policy; digital innovation; anti-money laundering; credit referencing; insurance; risk segmentation
Academic Unit/School: Faculty of Arts and Social Sciences (FASS) > Politics, Philosophy, Economics, Development, Geography
Faculty of Arts and Social Sciences (FASS)
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Interdisciplinary Research Centre: Innovation, Knowledge & Development research centre (IKD)
Item ID: 50319
Depositing User: Jonquil Lowe
Date Deposited: 31 Jul 2017 08:09
Last Modified: 31 Jul 2017 08:09
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