Managing money is tough for anyone, but it hits especially hard for adults with learning disabilities. Just opening a banking app or trying to make sense of monthly statements can feel like solving a puzzle. And with banks pushing aggressively toward digital-only services, many people find themselves struggling to keep up.
This isn’t just about inconvenience. When someone can’t handle their own money, they lose their independence bit by bit. Having to hand over control to someone else often feels like a step backward instead of forward.
The scale of this problem in the UK is significant – 1.5 million people with learning disabilities face these barriers daily. As bank branches close and digital payments become the norm, many find themselves excluded from basic financial services. The rise in sophisticated scams adds another layer of risk, making financial independence feel increasingly out of reach.
Project Nemo, a grassroots, not-for-profit campaign, is joining forces with Fintech Fringe and The Payments Association on a new initiative aimed at dismantling financial barriers for adults with learning disabilities.
Launched in 2023, Fintech Fringe connects innovative fintech startups with established financial institutions, sparking breakthroughs in the sector. The Payments Association, at the heart of the UK’s payments industry, promotes innovation and collaboration.
Their collaborative effort is geared towards crafting more user-friendly financial services that empower those with learning disabilities to handle their finances independently.
The challenge
This initiative marks the first challenge in Fintech Fringe’s new Innovation Challenge Series, designed to connect financial institutions with innovative startups to develop solutions for pressing industry challenges. Winners will be showcased at Pay360, one of Europe’s largest payments show, on 26 March at London’s Excel.
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Source : https://thefintechtimes.com/fintech-fringe-and-project-nemo-team-up-to-tackle-financial-exclusion/
