Today we look at a report from our close friends at Another Crowd, the crowdfunding intelligence platform. Another Crowd looks at Financial Capability Week, which is all about some thing very close to our hearts here at Money&Co., namely “people’s ability to manage their money well. That includes day-to-day management, but also managing the financial side of important life events, such as marriage, having children and changing or losing your job. A lot of people aren’t as good at that as they could be.
“Financial Capability Week takes place between 14 – 20 November 2016. It’s an awareness-raising week, so if you have never heard of financial capability before, this is the place and the time to get a basic understanding. The website https://www.fincap.org.uk hosts the Financial Capability Strategy for the UK.
“Another Crowd is very interested in growing the biggest possible community of intelligent investors supporting small businesses and anything else they value, and an important part of that is spreading ideas and capabilities so that more people know that investment requires some intelligent thinking, but it’s not an arcane, specialist or mysterious subject that has to be left to experts.
The Fintech angle
“Financial capability also offers plenty of opportunities for Fintech investors. For an insight into this we turn to Chris Skinner of Financial Services Club, who points out that when we talk about the ‘unbanked’, there are millions if not billions of people in the developing world who have never seen a bank branch, never mind opened an account Fintech, including the work of UK based start-ups, is helping banks leapfrog generations of technology. (Imagine what it’s like introducing phone banking to people who have never had a debit card or a cheque book).
“This is an important point and should not be overlooked when we’re seeking out innovative projects and new technologies that can succeed in a global market (and in the UK and Europe.) Chris’ post is on his blog, The Finanser, and is very readable.”