The FinTech Impact Report: Working through the world’s to-do list #FinTechforPeople 01 | BOOSTING FINANCIAL INCLUSION 21% of unbanked people in The number of unbanked Europe and the UK cited lack of 15-24-year-olds in the UK WITH GREATER ACCESS TO BANKING documentationas the most declined by 76% between common reason for being 2017 and 2020, a key SERVICES: unbanked24 FinTech growth period25 Access to financial services is not just a matter of convenience — it's pivotal for alleviating and ultimately Banking the unbanked: Through supervised financial services for children, escaping poverty. Remarkably, 7 out of the 17 UN SDGs like GoHenry, the UK has witnessed a transformative shift in youth financial pinpoint it as a crucial element for uplifting the most inclusion. Through its easy-to-use financial education app and prepaid debit cards, GoHenry is transforming the landscape of financial inclusion by empowering youth marginalised. Beyond individual empowerment, financial with the tools to manage, save, and spend money responsibly. inclusion plays a significant role in spurring national economic growth and development. FinTechs are at the Fair access to finance: Traditional credit bureaus have often been barriers to lending forefront of this, addressing barriers and ensuring more for many individuals. Through advanced AI and the use of open banking transaction individuals have easy, safe and secure access to essential data, Bud unlocks lending opportunities for previously underserved groups, increases support for vulnerable customers, and can also help to reduce default banking services. rates. Improving financial resilience & education: Beyond broadening financial resilience with smart-money management tools, FinTech paves the way for enhanced financial inclusion. For example, Starling Bank pioneered “Hide References”, a feature that lets survivors of economic abuse mute unwelcome or abusive references that can accompany bank transfers. 23