Money Advice Trust

Across the UK today, over 2 million people are estimated to be borrowing from illegal lenders. But what happens when what starts as a friendly offer of help then spirals into extortion, physical threats, and cuckooing? Michael Hilton from Three Hands Insight speaks with Andrew and Steve about their lived experiences, and how essential services can spot the warning signs of loan sharks and protect people before crisis hits.

We focus on protecting customers from harm, but what about our colleagues? Paul and Andy share with Michael Hilton from Three Hands Insight how gambling addiction gripped their working lives, from hidden tactics during office hours to the spiralling crisis of workplace fraud, and what their colleagues and employers could have been done to help them.

We all know that the ‘poor pay more’. And we’ve all heard of the poverty premium affecting the lowest-income households in the UK. But just why has this premium risen by 75% in the last four years? And, more importantly, can we do anything at all about it? Rebecca Deegan from Fair By Design talks about new research with the University of Bristol’s Personal Finance Research Centre that may well give us the answers (and a sliver of hope too).

Of the 70 million people living in the UK today, nearly 11 million are from a minority ethnic background. But to what extent might your heritage determine the cost of your everyday living? Jerry During, co-founder of Money A+E, joins Chris Fitch to explore the ‘ethnicity premium’ - the hidden and higher costs faced by diverse ethnic communities.

Every day, 1500 people in the UK die. But given this is a daily certainty, many organisations and businesses still appear under-prepared for the multiple challenges that death can bring to their customers.  In this episode, Deborah and Jamesey share their experiences of navigating personal grief at the same time as often difficult organisational processes. Michael Hilton from Three Hands Insight hosts.

Is a vulnerability flag just a piece of data in a company system, or a lifeline that could change a customer’s world? As Sarah Liddon from Nationwide explains, behind every vulnerability flag lies a delicate balance of precision and compassion, reflected in Nationwide’s redesigned approach to ensure that every digital marker can lead to an effective and empathetic response.

Some argue that ‘design’ is the new tool for tackling vulnerability: • regulators are telling firms to design inclusively • firms are telling staff to design with vulnerability in mind • and products and services are now appearing for once overlooked consumer groups. But just what is ‘design’ when it comes to vulnerability? Can we really design inclusively, accessibly, and for everyone at the same time? Chris Fitch, our Vulnerability Lead Consultant, is joined in conversation by: Tim Hawley - Head of Customer Vulnerability, Capital One Bailey Kursar - CEO & Founder, Touco Sian Williams - Director of Policy and Innovation, Toynbee Hall Dr Rose Chard - Consumer Insight Specialist, Energy Systems Catapult Subscribe to our Vulnerability Matters newsletter for updates on future webinars, podcasts and training resources for creditors: https://mailchi.mp/moneyadvicetrust.org/vulnerability-matters-newsletter

Sharing their views on World Suicide Prevention Day, our expert panel discuss what more can essential services do to help vulnerable customers with thoughts of suicide to stay safe, and to stay alive whilst keeping staff safe in the process. Chris Fitch, our Vulnerability Lead Consultant, is joined in conversation by: Nick Barnes - Suicide First Aid, CEO & founder, National Centre of Suicide Prevention Education and Training Neil Taylor - Industry Liaison Manager, NatWest Group Gareth McNab - Lived Experience Expert & Money Advice Liaison Manager, Nationwide Subscribe to our Vulnerability Matters newsletter for updates on future webinars, podcasts and training resources for creditors: https://mailchi.mp/moneyadvicetrust.org/vulnerability-matters-newsletter

In July, the FCA published its latest proposed guidance for firms on the fair treatment of vulnerable customers. Led by our Vulnerability Lead Consultant Chris Fitch, we will explore and discuss the FCA's proposed guidance, our thoughts on its contents, and what it is likely to mean for firms based on experience of working with organisations to help them improve support for customers in vulnerable circumstances. Chris is joined by a leading panel including: Tim Hawley - Capital One, Operational Excellence Lead Fiona Turner - UK Finance, Head of Financial Inclusion, Capability and Vulnerability Bailey Kursar - Touco, CEO Subscribe to our Vulnerability Matters newsletter for updates on future webinars, podcasts and training resources for creditors: https://mailchi.mp/moneyadvicetrust.org/vulnerability-matters-newsletter

In this live webinar recording our expert panel discuss a new report from the University of Bristol’s Personal Finance Research Centre (in partnership with Gamble Aware) on the availability, use, and design of bank card gambling blockers as well as examining what creditor staff can do to best support people who experience, or are at risk of gambling-related harm. • Should the law require every debit/credit card to be set – by default – to block customer expenditure on gambling? • Why have some banks launched gambling blockers on their payment cards, while others have not? • Is it a bank’s duty to provide such blocking controls? Joining our Vulnerability Lead Consultant Chris Fitch to discuss these and other questions are: - Sharon Collard, co-author of ‘A Blueprint for Bank Card Gambling Blockers’ - Alexandra Frean, Head of Corporate Affairs at Starling Bank - Tony Franklin, self-described problem gambler, and activist and writer on gambling reform - Matt Gaskell, Clinical Director of the NHS Northern Gambling Services Subscribe to our Vulnerability Matters newsletter for updates on future webinars, podcasts and training resources for creditors: https://mailchi.mp/moneyadvicetrust.org/vulnerability-matters-newsletter

Our fifth ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores how should firms apply 'vulnerability' to small business owners. However, what does this really mean in practice? Does it differ from commercial vulnerability? And what should firms do to support ‘vulnerable’ small business owners? In this episode, the Money Advice Trust's Vulnerability Lead Consultant Chris Fitch is in conversation with Anil Patel from Business Debtline and small business vulnerability specialist, Ian Philips to reflect on the impact of vulnerable circumstances on small businesses owners. Subscribe to our Vulnerability Matters newsletter for updates on future webinars and to access e-learning resources for creditors: https://mailchi.mp/moneyadvicetrust.org/working-in-a-crisis

Our fourth ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores 'Dealing with financial crisis and serious illness'. When someone is seriously ill, how can firms help them avoid or manage a financial crisis? Vulnerability Lead Consultant Chris Fitch asks Dennis Hussey from National Debtline and Leo Miles from Macmillan Cancer Support for their guidance on making a practical difference. Covering what to ask, how to assess need, and what counts as relevant and reasonable support, we will reflect on the ‘now’ and ‘next’ of the Covid-19 epidemic. Subscribe to our Vulnerability Matters newsletter for updates on future webinars and to access e-learning resources for creditors: https://mailchi.mp/moneyadvicetrust.org/working-in-a-crisis

Our third ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores 'Dealing with emotional crisis'. The podcast covers: • To what extent can staff help people in the depths of emotional and personal crisis • Identifying concerns about customer wellbeing In this discussion the Money Advice Trust's Vulnerability Lead Consultant Chris Fitch is joined by: • Nick Barnes, Chief Executive, National Centre Suicide Prevention Training. • Dan Holloway, writer and expert by experience. Subscribe to our Vulnerability Matters newsletter for updates on future webinars and to access e-learning resources for creditors: https://mailchi.mp/moneyadvicetrust.org/working-in-a-crisis

Our second ‘Working in a crisis’ recording, to help creditor staff working in front-line/customer-facing, management and specialist roles explores how firms are and should be dealing with customer bereavement. The podcast covers: • How creditors can make a difference in the current context of Covid-19 – to bereaved people. • Practical tips on providing a compassionate response. • Taking care of yourself – dealing with loss and simple, clear steps to taking care that may help. In this discussion the Money Advice Trust's Vulnerability Lead Consultant Chris Fitch is joined by: • Andy Langford, Clinical Director, Cruse Bereavement Care. • Michael Kennelly, Business Development Director, The Death Notification Service. Subscribe to our Vulnerability Matters newsletter for updates on future webinars and to access e-learning resources for creditors: https://mailchi.mp/moneyadvicetrust.org/working-in-a-crisis

In our first ‘Working in a crisis’ recording, designed to help creditor staff working in front-line/customer-facing, management and specialist roles, our Vulnerability Lead Consultant Chris Fitch and customer experience expert Caroline Wells discuss the need to maintain your and your team's resilience and practical tips on how to support your own and your team's wellbeing. The podcast covers: • Why people react the way they do • Practical steps staff can take in the moment • Q&A Subscribe to our Vulnerability Matters newsletter for updates on future webinars and to access e-learning resources for creditors: https://mailchi.mp/moneyadvicetrust.org/working-in-a-crisis

In July the FCA published its proposed “Guidance for firms on the fair treatment of vulnerable customers.” In this podcast, we digest and discuss how the guidance might realistically change firm practice, and consider how the FCA will monitor and supervise firms in relation to vulnerable customers. Recorded in front of a live audience, Chris Fitch is joined by a leading panel including: •Fiona Turner - Interim Principal, Financial Inclusion, Capability and Vulnerability, UK Finance •Tim Hawley - Operational Excellence, Capital One •Suzanne Wood - Head of Customer Outcomes, Newcastle Building Society The panel share their views and discuss the proposed guidance – as organisations continue to develop their response to the consultation.

Vulnerability is an age-old problem. So is it one that financial technology (fintech) can really solve? Creditors are increasingly looking to directly address vulnerability through different technological solutions.  Our latest podcast in partnership with UK Finance, brings together four people who are working on this question. Joining Chris Fitch in the studio are: Tony Leach from the Vulnerability Registration Service (VRS), who are working to develop a single UK register of vulnerable consumers Dominic Maxwell from TellJo, who are using technology to automatically identify customers who are in vulnerable situations. Andrew Gething from Morgan Ash, who have developed a vulnerability assessment service to help firms work better with customers. Mick McAteer from the Financial Inclusion Centre, and author of the discussion paper ‘Fintech - Beware of Geeks Bearing Gifts?’

Economic abuse, involving forms of financial control, exploitation, and often sabotage leave individuals finding themselves affected both within current relationships, but also long after they have long separated from a former partner. Significantly, although one in three people say they told no-one about what is happening to them, many people do tell their bank or financial services provider about their situation. Yet research indicates that until recently, research indicated support wasn't consistently being given. With a voluntary code of practice on financial abuse published last year by UK Finance, and a new charity (Surviving Economic Abuse) emerging to drive responses in this sector, could 'economic abuse' be about to join issues such as ‘mental health’, ‘serious illnesses’, and ‘gambling’, as a major priority for the sector? Joining Chris Fitch at Lloyds Bank in London's Square Mile, to debate these issues are:

Debt collection staff are often the first to encounter or hear about people in vulnerable circumstances, Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at what has been, the current state and the future of vulnerability within debt collection: 1. Looking back - what factors have driven the changes we're seeing in relation to vulnerabilities? Understanding the game-changers and milestones. 2. Current challenges - what we are seeing on the frontline of collection activity at the moment, and what this means for customers in vulnerable customers. 3. Multichannel communication - what channels are desirable for consumers, commercially realistic for firms, and expected by the regulator? 4. Innovation and investment - what is going to be different or remain the same going forward? Podcasts comprise a regular component of the Vulnerability Academy curriculum. In this discussion the Money Advice Trust's Vulnerability Lead Chris Fitch is joined by: - Bob Kingdon, Director of Compliance at Intrum UK. - Emma Bantges, Senior Team Leader, Vuln. Customers Champ, Cabot Financial. - Colin Trend, Lead Trainer, Money Advice Trust. - Sara Williams, Debt Camel Blogger, Citizens Advice Adviser.

Increasingly dropped into conversations about vulnerability, universal design is the development of buildings, products, services or processes that are accessible to all people, regardless of age, disability or other factors. Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at three main areas for firms to consider: 1. Fundamentals - designing products or journeys that meet the needs of disabled people, vulnerable consumers, and the masses. 2. Design process - taking vulnerability into account during the design process and accounting for specific groups of consumers. 3. Opportunities - factoring in universal design to improve the identification and support of consumers in vulnerable circumstances. Podcasts comprise a regular component of the Vulnerability Academy curriculum. In this discussion the Money Advice Trust's Vulnerability Lead Chris Fitch is joined by: - Mary Harmon, Lead Product Designer at Tully. - Bailey Kursar, Founder of Toucan. - Lucy Malenczuk, Senior Policy Manager for Consumer and Community at Age UK.

Starting a conversation about vulnerability with a customer can be difficult. Staff need to know what they are trying to identify and how they may be able to support a customer’s set of circumstances. Our exclusive podcast, developed in conjunction with UK Finance for our joint Vulnerability Academy looks at three main areas for firms to consider: - Identification - why does identification matter when it comes to vulnerability and who/what are we trying to identify? - Engagement - how do we move the conversation from identification to support? - Support - what support that can be given to people in vulnerable situations and where does the responsibility of firms end? Podcasts comprise a regular component of the Vulnerability Academy curriculum. In this discussion the Money Advice Trust's Vulnerability Lead Chris Fitch is joined by: - Debbie Gill, Specialist Support Team Manager, Vanquis Bank. Morven Lean, Programme Partnerships Officer at the Alzheimer’s Society. - Dan Clarke, Vulnerable Customer Specialist at Monzo. - Caroline Wells, Customer Service Expert at the Money Advice Trust and founder of MeIncluded.

A question often asked about vulnerability, is where does the responsibility of consumers and firms begin and end? This exclusive podcast, developed in conjunction with UK Finance and the Money Advice Trust for the new Vulnerability Academy programme looks at three main areas: - Responsibility of firms: What should we expect as a minimum from firms in terms of identification and support and is this being met? - Responsibility of consumers: Is it unreasonable to expect a consumer to disclose a vulnerable situation to a firm, rather than requiring a firm to identify this? - Digital vulnerability: Do digital platforms and banking apps require new thinking around consumer 'responsibility'? With exclusive podcasts comprising a regular component of the Vulnerability Academy curriculum (see below), this discussion is hosted by the Money Advice Trust's Vulnerability Lead Chris Fitch who is joined by: - Martin King, Head of Customer Vulnerability, Lloyds Banking Group - Helen Undy, Director, Money and Mental Health Policy Institute. - Jim Fearnley, Senior Policy Adviser for financial services, Macmillan Cancer Support.

Mental health and money can often be closely intertwined. Recognising this, the financial services sector has taken steps in recent years to improve the ways in which firms understand and address the needs of customers living with a mental health problem, including providing relevant support and help. In our exclusive new podcast, the Money Advice Trust's Vulnerability Lead Chris Fitch asks two questions: 1. what progress has practically been made on the issue of mental health within financial services? 2. what role should firms play in both identifying and responding to the needs of customers with mental health problems? Joining him at Lloyds Bank in London’s Square mile, to debate these issues are: - Martin King, Head of Customer Vulnerability at Lloyds Banking Group. - Sarah Murphy, Associate Director of Advice at Rethink Mental Illness - Dan Holloway, writer, a mental health commentator, a previous World Intelligence Champion - Dr Thomas Richardson, Principal Clinical Psychologist at Solent NHS Foundation Trust, as well as a long-time researcher on financial difficulty and mental health.

Our colleagues at the Money and Mental Health Policy Institute have recently published their new report on the link between financial difficulty and suicide: The report is a significant contribution to the vulnerability debate, and raises questions such as what can creditor staff can do to prevent lives being lost to suicide, and what can be achieved in partnership with voluntary sector agencies, charities, and the emergency services. In our exclusive recording at the Royal London Hospital, the Money Advice Trust's Vulnerability Lead Chris Fitch discusses the findings of the report and more with a panel of experts comprising: - Katie Evans, Head of Research and Policy at the Money and Mental Health Policy Institute - Gareth McNab, Money Advice Liaison Manager at Nationwide, who shares his personal experience - Rikke Albert, Practice Nurse at the East London Foundation Trust

It is estimated that between 2.5 to 4.3 million people in Britain may be affected by gambling related harm. With discussion among firms about 'gambling blocks' on customer accounts, and the Gambling Commission mooting a total ban on the use of credit cards for gambling, the sector is going through a time of great change. To explore these issues, the Trust's Vulnerability Lead Chris Fitch is joined at the National Problem Gambling Health Clinic by: - Dr Henrietta Bowden-Jones, Director and Founder of the Clinic - Owen Baily, Campaigner who has lived with a gambling addiction since his 20s - Natalie Ledward, Vulnerable Customer Specialist at Monzo - Stuart McFadden, Head of Financial Difficulties at Monzo