Nikki Bond, Head of Gambling Harms Action Lab, Money and Mental Health

This policy paper looks at the important opportunity financial services have to support customers who may be at risk of suicidality.

The role of financial difficulty in suicidality is distinct and measurable: individuals in problem debt are three times more likely to attempt suicide than those without. 

Banks often have a unique insight into when people may be struggling with these issues through being able to see their financial data, and through the contacts they have with customers through frontline staff.

Every life lost to suicide is a tragedy. We’re urging banks to act now, to help prevent more lives being needlessly lost.

• Make it easier for customers to disclose suicidal thoughts – create supportive disclosure routes, train staff to recognise both explicit and indirect warning signs, and ensure clear escalation and referral pathways.
• Reduce the harm caused by debt collection practices – limit the volume and intensity of contact, and ensure collections communications are non-threatening, supportive, and clearly signpost help.
• Use data to identify customers who may be at risk and reach out with support – develop clear indicators, and trigger outreach that offers practical help and signposting, designed with lived experience input.

Read the full paper here.

If you or someone you know have been affected by the issues discussed in this paper, you can find information on organisations that can offer support here.