Fintech for Financial Inclusion

On Thursday (6th July) Chris tabled a debate in the House of Lords about what role financial technologies (fintech) can play in promoting financial inclusion. Specifically he asked “Her Majesty’s Government what steps they are taking to promote financial inclusion through the use of innovative financial solutions and new technology, including open access to payment infrastructure, smart phone applications and distributed ledger technology.” During his speech he explained why he was interested in both fintech and inclusion and called on the Government to commit to various actions.

“Why am I interested in fintech? I am interested because it is innovative and disruptive and has the potential to address some of the issues that have dogged our society for decades, not least the inability for SMEs to have consistent and timely lines of credit. Perhaps even more significant is the fact that so many hundreds of thousands, nay, millions, of our fellow citizens have been effectively locked out by being underbanked or unbanked. There has been no real sense that pressure has been put on, or desire felt by, the major financial institutions to lend to SMEs or address questions around the underbanked and unbanked of our society.

Why am I interested in inclusion? This goes right back to the beginning for me. It seems extraordinary that everybody would not be interested in how we enable and empower every single member of our society to play their part and to be fulfilled in whatever field they want. Financial inclusion is critical to this. When we set it alongside digital inclusion, we have two of the most significant building blocks that have to be so well set if we are going to address some of the most significant issues facing citizens in Britain right now.”

Chris went on to ask the Government to look at regulation and funding; by increasing the responsibilities of the Financial Conduct Authority and giving a specific responsibility for financial inclusion. He also asked if the Government would commit to at least equaling the support that the European Investment Bank has given for fintech once we leave the European Union. Chris also highlighted the incredible potential of some initiatives for distributing benefits the Department of Work and Pensions have been looking at. “We have had some great proofs of concept, but we need this to get to scale and then we will truly see the impact and the difference that fintech can make in terms of financial inclusion.” In summing up Chris called on industry and Government to work together to ensure that fintech continues to thrive, continues to deliver and continues to be a great British enabler and a great British export, through and long beyond Brexit.

Read full text here.

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Chris to Chair Global Disability Innovation Hub

Chris standing in front of banner with GDI logo

 

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Inclusive Design for a Better Britain

Chris on stage giving keynote at ATEC Conference

 

Chris was delighted to give the keynote speech at tech conference, ATEC London 2017 today (June 6th 2017). He spoke about innovation, technology and the potential for assistive technology to offer solutions for disabled people. He also highlighted that inclusive design was beneficial for everyone, regardless of whether you have a disability or not.

ATEC London 2017 is a one-day event that allows disability professionals involved in the workplace and post-16 education to listen to and meet with assistive technology experts, solution providers and other likeminded delegates.

In his speech, entitled ‘Assistive Technology: a measure of civilization’, Chris shared his personal experience of assistive technology saying:

“From cassette tapes to text to speech software, I could not have enjoyed the education and career I have been lucky enough to have experienced so far without it.

I am genuinely and passionately excited about the potential of assistive technology to remove barriers, unlock opportunities and unleash talent.

Talent is everywhere but opportunity is not and assistive technology offers a way to address that terrible imbalance.

I urge everyone to learn more about what’s out there, ask questions, find solutions and share the good news”

ATEC London 2017, which is sponsored by Barclays, gives delegates the chance to keep up-to-date with emerging assistive technology products, trends and innovations.

Employers are becoming increasingly aware of how assistive technology can promote well-being and inclusion in the workplace, whilst improving performance.

It can enable disabled employees to work effectively and increase productivity, as well as helping to reduce stress by empowering disabled people and removing barriers to work.

We spoke to @LordCHolmes about the future of #AssistiveTech at @ATEConference #ATEConference pic.twitter.com/SQ4i6s3aT9

— Barclays Access (@BarclaysAccess) 6 June 2017

Chris is also working in Parliament to increase awareness among members of the vital role assistive technology can play in improving lives and is Co-Chair of the All Party Parliamentary Group on Assistive Technology.

Fintech Week

Chris was delighted to give the keynote speech on financial inclusion at a major Fintech conference that kicked off Fintech week in London in April. As a member of the House of Lords Select Committee on Financial Exclusion, the full findings and report of which were published just two weeks earlier, Chris was pleased to have the opportunity to pull together themes from this work and his work in fintech. Chris highlighted the terrible cost and persistent nature of financial exclusion by asking why those who have the least, pay the most. He pointed out that in the UK there are currently 1.7 million people without a bank account and 40% of people without £100 in savings. Recommendations from the Lords report include introducing financial literacy at school, expanding the remit of the Financial Conduct Authority to include financial inclusion and creating a Cabinet Minister with direct responsibility for financial inclusion. Chris also celebrated the possibility of technology to offer solutions to some of our trickiest problems, not least the issue of financial inclusion. Chris reminded the audience that technology in-and-of-itself is neutral and the key is to ask always how will the enable, empower and include? On the same stage that morning Tim Berners-Lee had spoken about the need to think about the effect on society in a highly connected, networked world and Chris followed on from this by touching on the need for greater understanding and ownership around resources, identity and data stating that it’s your data, your choices and your permissions. His emphasis on the potential and possibility of technology to solve problems was again clear when he finished by asking everyone to imagine the power of fintech in its totality.

Future Talent HR Conference

Chris took part in a session on aspects of trust in sport in major HR conference; Changeboard’s Future Talent 2017. Chris spoke on the importance of trusting different people, urging that it’s time to take an inclusive approach for innovation and that companies need to become diverse or die. Chris argued that flat structures and leadership teams that lead by example, by “delivering on a promise”,  are creating the right environment for trust to flourish. He recalled moments from his own life when he had to trust in others, including his guide dog Lottie and stressed that trust is about relationships and being prepared to be vulnerable. As Chris says, “It’s not easy but it is essential.” Other speakers in the session were Dame Katherine Grainger and Sir Clive Woodward who spoke about trusting yourself and teamship and collaboration. There was positive feedback during the session and Dr Alan Watkins, chairing the discussion, drew out these lessons on trust from the world of sport and explored how they would apply to corporate leaders and organisations. The future of talent is important because the world is increasingly complex. The only way out is up. By upgrading our human operating systems.

Keynote speaker at Adidas Diversity Day Event.

Adidas Keynote

Chris was invited to speak at a major diversity and inclusion event at Adidas HQ on the topic of inclusion for innovation. The corporate focus was on the belief that the best teams are diverse teams, that the company should mirror the society they serve and that for change to happen, it must be actively pursued. In the words of the CEO’s father: “it takes a long time to do something you’re not really working on.” Chris was delighted to deliver the keynote and so much of the power of his personal experiences and philosophy spoke perfectly to the themes of the day. More than most, Chris understands the power of sport to change lives; his own story of adjusting to the unexpected shock of losing his sight as a child to become one of the country’s most successful Paralympians illustrates a deep understanding of inclusion. As he says, making a case for staying in his mainstream school and continuing in his swimming club were experiences of diversity and inclusion “before the terms really existed”. Chris goes on to discuss the various ways technology can be used to innovate for inclusion – from cassette tapes to Bluetooth beacons! – but also makes the point that innovation of thought is as important as the practical tools. A commitment to welcoming and supporting diversity is the major requirement for successful outcomes. What is often viewed as bold, brave, risk-taking he argues is not actually risk-taking when it’s doing the right thing for the right reasons. He gives many fascinating examples of successful inclusive and innovative achievements around the London 2012 games.  As Chris says “it’s not easy but it is essential”. When thinking particularly about the power of digital to disrupt, his passionate exhortation is to “become diverse or die.”

Seeing isn’t believing"Ted" talk

Later on in the day Chris delivered another short presentation, “Seeing isn’t believing” which focused on his sporting achievements and was inspired by his popular TedX talk.

Chris really enjoyed all the connections and conversations throughout the day and wanted to thank everyone who came to say hello. Discussions covered many aspects of the diversity and inclusion agenda but Chris was delighted by the enthusiasm for one of his key messages; that change can happen when one person believes that things can be other than they are.

Adidas Meet

Unlocking Opportunities, new resource for teachers with disabled students

Unlocking Opportunities is a practical online training course to help schools to meet their Equality Act duties and remove barriers to education for disabled learners. It is for everyone who works in schools and will help staff to understand what equality law says and what it means in practice for teaching and learning. Schools can register for FREE and start using the online resource to train staff in the subject of reasonable adjustments.  Watch Chris introduce the resource in a youtube clip or head straight to the website.

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