Can Fintech Companies Materially Improve Employee
According to an independent fastP.A.Y.E survey, 46% of staff experience increased stress levels during the week before payday and according to the Office of National Statistics 4% of the UK population are classified as having “problem debt”. An April 2020 study by the CIPD found that the financial security of 39% of UK workers had worsened as a result of the coronavirus lockdown. Against this background employers are looking at implementing financial well-being strategies and the Scottish Fintech community is investing heavily in solving the problem.
We have bought together a panel of experts in the field to find out if fintech companies can make a major difference and improve the financial wellbeing of employees.
9am - Introduction & Welcome
9:10am - Panel Discussion
- How fintech companies can integrate into the UK financial wellbeing strategy?
- The use of credit information and Open Banking data to help vulnerable customers through the Affordability Passport service.
- How technologies that allow advance wage payments can strengthen financial resilience amongst employees?
9:50am - Viewers Q&A's
Fiona joined the SNP in 1986. She contested Edinburgh Leith in 1992 and Edinburgh Central in 1997.
She introduced the Graduate Endowment Abolition (Scotland) Bill.
Fiona formerly served on the SNP Executive Committee, was SNP Vice Convener for Policy and Shadow Education spokesperson from 2003-2007.
Nicola is a business leader with experience across multiple industry sectors and an emphasis on people, innovation, strategic disruption, progressive change, risk and regulation. She has been actively influencing the development of FinTech Scotland’s cluster, integrating businesses, consumers, citizens, and public agencies to build an inclusive network, which has lead to the development of FinTech Scotland’s consumer panel.
Laura is part of the product team based in the Edinburgh office for fastP.A.Y.E a Salary Advance app which allows staff to access a proportion of their salary without having to wait until payday.
Many employers are now developing a financial well-being strategy for their colleagues around a Salary Advance App.
Experian and their Glasgow based Castlight Financial are focussing on the use of credit information and Open Banking data to help vulnerable through their Affordability Passport service. This allows a consumer to share credit information and bank transaction data to inform their affordability for services.
Keith is a partner in N4 Advisory, a boutique investment and advisory firm. Is formerly Managing Partner at Clyde Blowers Capital and has been working as an Independent Executive for the last 3 years including working over the last 18 months as a Strategic Adviser to the new Scottish National Investment Bank.