Even if the UK financial system had the most efficient regulatory system possible and competition was working perfectly, a large group of consumers would still be commercially unviable for mainstream financial services providers.

Radical and innovative solutions are needed to meet the needs of these groups. We are developing innovative solutions based on partnerships between the financial services industry and the third sector to increase access to fair and affordable financial services for consumers who are not economically viable for mainstream financial services providers, and aim to help build capacity in the third-sector to help it play a more effective role in meeting the needs of excluded and marginalised consumers. Some of the areas we are exploring include social investment bonds, affordable insurance products, and affordable equity release schemes.