Financial inclusion and basic financial services -
Description: Financial inclusion and basic financial services - Research outcomes Panel 1: Basic Financial Services: A necessary step towards inclusive EU financial services Survey on financial inclusion: unveil invisible vulnerable people Problem: Lack
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slide1. Financial inclusion and basic financial services - Research outcomes Panel 1: Basic Financial Services: A necessary step towards inclusive EU financial services<br>
slide2. Survey on financial inclusion: unveil invisible vulnerable people Problem: Lack of data on financial exclusion, vulnerable people excluded from the financial system are larger than we think
Purpose: Collect data from civil society actors expert on the subject
Profile of our respondents: Data from 20 countries Consumer protection Academic Public sector NGO working with vulnerable citizens Credit union Debt advisor<br>
slide3. Targets of vulnerabilities and barriers Most vulnerable people Illiteracy Digitalization Physical or mental disabilities Gender Record of payment default Lack of skills Self-exclusion<br>
slide4. Exposure to exclusion by target<br>
slide5. Poorly designed in terms of: Pricing
58% of our respondent observed illegitimate high price / high cost of financial products and services
Complexity
94% of our respondent consider average products are not easy to use
Dangerousness and riskiness
89% of our respondent agree that vulnerable users are particularly in danger of taking on risky financial products<br>
slide6. Basic financial services that should be made available for social inclusion Payment and transaction Credit Savings Insurance Bank account
Guaranteed access to cash Responsible lending Saving accounts
Most appropriate option to response life events Basic civil insurance for:
Health
Car
House<br>
slide2. Survey on financial inclusion: unveil invisible vulnerable people Problem: Lack of data on financial exclusion, vulnerable people excluded from the financial system are larger than we think
Purpose: Collect data from civil society actors expert on the subject
Profile of our respondents: Data from 20 countries Consumer protection Academic Public sector NGO working with vulnerable citizens Credit union Debt advisor<br>
slide3. Targets of vulnerabilities and barriers Most vulnerable people Illiteracy Digitalization Physical or mental disabilities Gender Record of payment default Lack of skills Self-exclusion<br>
slide4. Exposure to exclusion by target<br>
slide5. Poorly designed in terms of: Pricing
58% of our respondent observed illegitimate high price / high cost of financial products and services
Complexity
94% of our respondent consider average products are not easy to use
Dangerousness and riskiness
89% of our respondent agree that vulnerable users are particularly in danger of taking on risky financial products<br>
slide6. Basic financial services that should be made available for social inclusion Payment and transaction Credit Savings Insurance Bank account
Guaranteed access to cash Responsible lending Saving accounts
Most appropriate option to response life events Basic civil insurance for:
Health
Car
House<br>