Broadening our reach

Developing supply

Barclays strives to increase the number of people benefiting from being part of the financial system, by improving access to the products and services which best meet their needs.

We reach these potential new customers in two key ways:

• Directly, through the development of new products and services
• Indirectly, by working with partner organisations who can help people take the first step towards structured banking.

Direct approach

Many unbanked people, and those on very low incomes would benefit from access to services that enable them to make payments more easily, offer safe savings, and provide appropriate credit at affordable rates. A key way in which we meet these needs directly is by adapting some of our products and services.

Barclays basic bank accounts have proved successful in both the UK and in South Africa where Absa, majority-owned by Barclays, has also launched simple accounts to meet the needs of previously unbanked people.

The number of Barclays branches across Africa has more than doubled since the end of 2007, and Absa has also opened dedicated centres across South Africa providing financial advice to micro-enterprises and small businesses.

Indirect alliances

To extend our reach to people who are wary of mainstream banks or are unable to access them, we partner and support intermediaries which can provide these potential customers with an entry point into financial services.

The partnerships we have developed around the world reflect the diversity of the markets in which Barclays has a presence. Initiatives range from supporting traditional Susu collectors in Ghana, who offer credit and savings to small businesses, to working with community finance organisations which advise people on low incomes across the UK.