f rahman innovative-practices
TRANSCRIPT
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Meet Victoria Obanye
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• Up to 12 million people use non mainstream lenders in the UK
• 7-10 million with limited access to financial services
• 2m without bank accounts
• 3-5m using doorstep lenders
• 2m+ using pay day lenders
• 200k using illegal money lenders
According to the FSA, Government and Competition Commission
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Lender Average APR
Morses Ltd 365%
Provident 469%
Rhodes Finance 1064%
CLC 1564%
Pay Day 2500%+
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No-one wants charity They just want a fair chance
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1. Price
2. Security
3. Brand/marketing
4. New technology
5. Ethics
Priorities in choosing financial products
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1. Accessibility
2. Flexibility
3. Honesty and simplicity
4. Respect
5. Relationship
Priorities in choosing financial products
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Launched in 2005
A high touch service with a human interface
Access to mainstream banking services AND
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We aim to revolutionize personal finance, starting with the people whom the mainstream providers have left behind.
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Meet Mama’s Kitchen