Money20/20 Europe Launch: CFIT and Project Nemo Form Financial Inclusion Coalition to Develop Supported Payments Framework

Why It Matters

By formalising safe, scalable payment assistance, the Coalition addresses a systemic gap that currently forces vulnerable consumers into risky informal arrangements, enhancing financial inclusion and reducing fraud risk for the broader market.

Key Takeaways

• Coalition builds a trust and consent framework for third‑party payment support
• Focus on learning‑disability users, later expanding to dementia and mental‑health groups
• Open Banking infrastructure will underpin pilot supported‑payment journeys
• HM Treasury funding signals strong governmental commitment to financial inclusion

Pulse Analysis

The launch of CFIT’s fifth national Coalition, in partnership with Project Nemo, marks a pivotal step in the UK’s financial inclusion agenda. Announced at Money20/20 Europe, the coalition is backed by HM Treasury and aims to bridge the divide between formal legal mechanisms—such as lasting powers of attorney—and the informal, often unsafe, practices many vulnerable consumers rely on today. By creating a Supported Payments framework, the initiative seeks to empower individuals to manage everyday transactions while granting a trusted third party limited oversight, thereby reducing fraud exposure and enhancing accountability.

Central to the coalition’s strategy is the use of Open Banking APIs to enable secure, real‑time data sharing between banks, fintech firms, and designated supporters. This technical foundation will allow pilot programmes to test end‑to‑end payment journeys that respect user consent and privacy. The early focus on people with learning disabilities reflects Project Nemo’s research, which identified a critical need for accessible, user‑centred design in financial services. As the framework matures, it will be adapted for broader groups, including those with dementia, mental‑health challenges, and acquired brain injuries, ensuring the solution scales across diverse impairment profiles.

For the industry, the coalition offers a clear roadmap to develop compliant, inclusive products that meet regulator expectations while opening new market segments. Fintech innovators can leverage the open‑finance ecosystem to build modular tools that integrate seamlessly with existing banking platforms. Meanwhile, regulators gain a collaborative forum to shape standards that protect consumers without stifling innovation. If successful, the Supported Payments model could become a benchmark for global financial inclusion efforts, driving a more resilient and equitable financial system.