Conor D’Arcy, Deputy Chief Executive, Money and Mental Health; Helen Undy, Chief Executive, Money and Mental Health
Who’s in?
Financial inclusion that delivers for people with mental health problems
11 September 2025
This paper looks at how the government can ensure its upcoming Financial Inclusion Strategy delivers for people with mental health problems.
It shows that people with mental health problems face higher risks of exclusion across all six pillars that will underpin the Financial Inclusion Strategy, from banking access to affordable credit to insurance, debt collection and savings.
Drawing on robust evidence and lived experience, this paper sets out where systems are failing, and the practical steps industry, regulators and the government can take now to deliver better outcomes.
Our key findings
- Exclusion is built into the journey. From ID checks to product design, small frictions and inflexible processes lock people out of essential services
- Gaps in data and decisioning lead to inconsistent, sometimes unfair outcomes for people with pre-existing mental health conditions
- Communication and collections practices too often escalate distress, with speed, frequency and channels that don’t reflect people’s support needs
- Inclusive design isn’t yet the norm. Many services still aren’t built around the realities of fluctuating conditions, cognitive load and support needs.
Key recommendations
- The FCA should review of travel insurance underwriting data for people with pre-existing mental health conditions, to improve risk assessment and outcomes
- Shared, mandated standards should be established across all forms of debt collection – covering acceptable speed of escalation, frequency of contact and accessible communication channels
- Inclusive design principles that are based on a strong understanding of the needs of customers with mental health problems should be applied across financial services.
This report was supported by Impact on Urban Health. It represents the research and views solely of the authors and of the Money and Mental Health Policy Institute and does not represent the views or experiences of Impact on Urban Health.