Building financial capability
Supply and demand
We recognise that while developing products and launching innovative supply channels to reach unbanked people is a vital step towards financial inclusion, we also need to help develop the demand for such services – by providing advice, information and education.
To become fully integrated into the mainstream financial system, people need to be empowered to make appropriate choices and use the banking services available to them effectively.
In cooperation with a range of partners, we use our financial skills and expertise to help people achieve the capability and confidence to make use of financial services, working towards financial independence and security.
Sharing advice and education
Banking on Brighter Futures is one of Barclays key Community Investment programmes, through which we support a host of initiatives around the world helping people to understand, act on and improve their financial problems.
In the UK our Barclays Money Skills programme supports and develops peoples' financial capability to help them to better manage their finances. Through this programme we are also working to develop tools that can be used more widely to support financial education and provide people with confidence in managing their money. Two activity packs are available, both have been accredited by Pfeg (Personal Finance Education Group) and designed for use by teachers, youth workers and volunteers. They help inform young people about the importance of managing their finances. Barclays Money Skills 14–17 and 16-25 cover budgeting, basic accounts and information on further sources of advice. Follow 'Reports and research' under Related links on the right and then 'Building financial capability'.
Barclaycard’s Horizons project helps disadvantaged lone parents improve their skills, confidence and, in turn, their job prospects. Since its launch in 2005, more than 89,000 people have gained help under the scheme.
Promoting financial awareness
We work with a range of intermediaries and community finance organisations, helping them to support their clients on the journey towards financial inclusion.
In Ghana, we run financial capability workshops to help traditional money collectors and their clients. Susu collectors offer informal savings programmes for local market traders, storing their money safely and charging a small fee in return. The workshops support both the susu collectors and the market traders in understanding the importance of saving and the benefits it can bring to a business.
In the UK, we work with the Association of British Credit Unions Limited and charity Citizens Advice on the CONNECT programme – a partnership to bring support and advice to communities where people are struggling with their finances. The aim is to encourage joint working between teams at the nationwide network of Citizens Advice Bureaux and credit unions across the UK, to provide a more comprehensive service to clients.
Supporting customers
We aim to help Barclays customers gain basic money management skills, and offer advice and support if they are facing financial difficulties.
Additionally, in the UK we fund independent organisations which provide support for people concerned about their finances. Among these are the Money Advice Trust National Debtline, Citizens Advice, and the Consumer Credit Counselling Service.
