Faisel Rahman on Fair Finance

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Faisel Rahman taks about Fair Finance, a social business that aims to reduce financial exclusion and exploitation amongst poor and low-income communities in the UK.

Published in: Business, Economy & Finance
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Faisel Rahman on Fair Finance

  1. 1. TwitterNo Straight Lines with Alan Moore and #C8EventFaisel Rahman #nostraightlinesFebruary 23, 2012 www.canvas8.com
  2. 2. Meet Victoria Obanye
  3. 3. According to the FSA, Governmentand Competition Commission• 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
  4. 4. Lender Average APRMorses Ltd 365%Provident 469%Rhodes Finance 1064%CLC 1564%Pay Day 2500%+
  5. 5. No-one wants charityThey just want a fair chance
  6. 6. Priorities in choosing financialproducts 1. Price 2. Security 3. Brand/marketing 4. New technology 5. Ethics
  7. 7. Priorities in choosing financialproducts 1. Accessibility 2. Flexibility 3. Honesty and simplicity 4. Respect 5. Relationship
  8. 8. Launched in 2005 A high touch service with a human interface Access to mainstream banking services AND
  9. 9. We aim to revolutionize personal finance, starting with thepeople whom the mainstream providers have left behind.
  10. 10. Meet Mama’s Kitchen
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