Project Nemo & Fintech Fringe Launch Exciting Innovation Challenge to Combat Financial Exclusion

Project Nemo & Fintech Fringe Launch Exciting Innovation Challenge to Combat Financial Exclusion

In an innovative move to enhance financial accessibility, Project Nemo, in collaboration with Fintech Fringe and The Payments Association, has launched a pivotal initiative aimed at addressing financial exclusion for adults with learning disabilities. This initiative seeks to identify fintech products and services that can significantly improve the payment experience for this underserved demographic.

Understanding Financial Exclusion for Adults with Learning Disabilities

Currently, approximately 1.5 million individuals in the UK live with learning disabilities, facing substantial challenges in managing their finances. The transition to digital payments and a reduction in physical payment terminals have compounded these difficulties. Additionally, the rise in sophisticated fraud tactics further complicates financial transactions for these individuals.

Challenges in Financial Management

Many adults with learning disabilities desire to engage fully in financial activities but are often constrained by:

  • Restrictive Measures: Existing solutions frequently require Lasting Power of Attorney (LPA), which can limit financial independence.
  • Lack of Accessibility: The shift to digital payments has made it harder for those needing additional support.
  • Increased Fraud Risk: More advanced fraudulent activities can disproportionately affect vulnerable populations.

Call to Action for FinTechs

Project Nemo encourages fintech companies with customer-facing or B2B solutions to participate in this transformative challenge. This is a unique opportunity for startups to present their innovative solutions to a panel that includes end-users and financial institutions.

Event Details

Five winners will be selected to showcase their ideas on the Innovation Stage at PAY360 2025, scheduled for March 26 at London’s Excel.

Joanne Dewar, founder of Project Nemo, emphasized the importance of this initiative: “We’re calling on fintechs to showcase impactful solutions that remove barriers and empower adults with learning disabilities to achieve financial independence. This is a chance to drive meaningful change in an underserved market.”

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About Project Nemo

Launched at the Innovate Finance Global Summit in April 2024, Project Nemo is dedicated to improving financial inclusivity for individuals with disabilities. The initiative utilizes a range of resources, including educational films, podcasts, and inclusive events, to ensure that financial products and services are accessible to everyone.

A Partnership for Change

Calypso Harland, founder of the Fintech Fringe Innovation Challenge Series, stated, “We are thrilled to partner with Project Nemo on this Innovation Challenge. This first challenge in our series highlights our mission—to drive tangible impact and foster collaboration between fintechs and financial institutions.”

By addressing real-world issues, Project Nemo aims to accelerate innovation that delivers meaningful and lasting change for adults with learning disabilities in the financial sector.

For more information about Project Nemo and how to get involved, visit their official page here.

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