The role of fintech in fighting the cost-of-living crisis

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According to the Office for National Statistics, 87% of adults in the UK reported an increase in their cost of living in April 2022.

The Office for Budget Responsibility expects household incomes after tax and adjusted for inflation to start falling in Q2 2022 and not recover until Q3 2024.Since Russia invaded Ukraine, economic forecasters have raised their expectations for consumer price inflation, not just in the near term but that it will be higher for longer.On 5 May, the Bank of England forecasted inflation to peak “at slightly over 10% in 2022 Q4, which would be the highest rate since 1982”.

In this podcast we ask ourselves what the financial sector can do to help people and businesses. How can collaboration between fintechs, established firms and support organisation can improve outcomes for individuals and companies

This podcast will also be an opportunity to announce the launch of the fintech innovation labs at TSB.

Participants

Sharon MacPherson – CEO at Scotcash

Jason Wilkinson Brown - Head of Partnerships & Open Banking at TSB

Iain Niblock – Head of Product at ClearScore

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