Reimagining financial inclusion: Kieron James at IFGS 2025

This April, fintech leaders, policymakers, and innovators from around the world gathered in London for the Innovate Finance Global Summit (IFGS) 2025 — the flagship event of UK FinTech Week and one of the most influential gatherings in the financial services calendar.

 We were incredibly proud to see our CEO, Kieron James, invited as a speaker on one of the summit’s most impactful panels: Financial Inclusion and Innovation. The conversation spotlighted the very real challenges millions still face in accessing meaningful financial services — even in developed markets — and the role fintech can play in changing that.

Here are some of the key insights from Kieron and fellow panellists, along with how we at Wonderful are playing our part.

Financial inclusion: Still a challenge in developed economies

Despite being among the most advanced financial markets in the world, the UK and Europe are far from immune to the effects of financial exclusion. As Kieron noted during the discussion:

“It might surprise some people, but yes — financial inclusion remains a huge issue even in developed markets.”

For many, the problem isn’t just about having a bank account. It’s about meaningful access — to fair credit, secure savings, transparent fees, and financial advice that’s actually tailored to their situation. Groups like gig economy workers, low-income households, migrants, and small businesses are often left underserved by traditional models that were never built with them in mind.

The power of fintech to drive change

Fintech is proving to be a catalyst for real, tangible solutions. As discussed on the panel, startups and scaleups alike are:

• Giving agency workers faster access to earnings
• Providing tools for small businesses to accept payments without punitive fees
• Creating budgeting and savings apps that simplify personal finance
• Offering multilingual support and alternative credit scoring models based on real-time data

Kieron pointed out that fintechs have a unique edge because they’re agile and deeply user-focused:

 “In many ways, fintechs are redefining what ‘access’ really means. It’s about services designed around people’s lives — not the other way around.”

Open banking: A key enabler of equity

A highlight of the session was Kieron’s perspective on open banking, which he called “one of the most powerful tools we have today for making financial services more equitable.”

“Four words: control, access, transparency and competition,” he said. “Open banking shifts the balance of power. It puts individuals and businesses in control of their own financial data.”

With open banking, users can securely share financial data with third-party providers offering better products, smarter tools, and fairer access. This is especially powerful for those with non-traditional incomes, like freelancers or the self-employed, who often fall through the cracks of legacy systems.

It also fuels transparency and enables genuine competition — where customer experience, not just brand heritage, drives loyalty.

Building with empathy: The UX challenge

Financial inclusion isn't just about what we build — it’s how we build it.

Kieron and fellow speakers stressed that empathy and simplicity must sit at the heart of user experience. Many people who are excluded from financial systems are also those who face literacy barriers, mistrust, or lack digital confidence.

That means:

• Mobile-first design for accessibility
• Clear, jargon-free language
• Simple, low-friction sign-up processes
• Features for users with visual or cognitive impairments

“Good UX isn’t just a nice-to-have,” Kieron said. “Inclusion depends on it.”

Measuring what matters

Another key point raised on the panel: Access doesn’t equal impact.

Simply onboarding users isn’t success. Real progress lies in improved financial wellbeing — whether that’s building savings, reducing debt, or gaining confidence. Fintechs must track behavioural change, retention, and feedback, especially across diverse user groups.

Kieron emphasised the need for intentional metrics:

“If we’re not careful in how we define success, we risk mistaking increased usage for real improvement.”

AI and hyper-personalisation: Innovation with ethics

The role of artificial intelligence in fintech is growing rapidly — from personalised insights to real-time fraud prevention. But as the panel discussed, with power comes responsibility.

Kieron made it clear that ethical infrastructure must surround AI deployment:

• Transparent, explainable models
• Robust data governance
• Human oversight for critical decisions

When done right, AI can supercharge inclusion. When mismanaged, it can deepen existing inequalities. Fintech must choose the former — and be accountable for it.

Fintech as a platform for financial education

One of the most exciting takeaways? The role of fintech in embedding education directly into financial tools. Rather than treating financial literacy as an external add-on, fintechs are weaving learning into daily interactions — helping users make smarter choices in real time.

It’s not about lecturing. It’s about empowerment.

What’s next — and who’s doing it well

Kieron highlighted some standout innovations during the discussion, including:

SuperFi, which uses open banking and conversational AI to detect when users are at risk of missing payments — and guides them to preventative support.

These examples are proof that when fintech designs from real life, not just from spreadsheets, real change happens.

Our perspective at Wonderful

At Wonderful, we’ve always believed in the power of technology to do good. As Kieron shared on the panel:

“We built it like a startup. We operate it like a charity. But we view it as a privilege.”

That’s more than a slogan — it’s a statement of purpose. Our mission is to build tools that are inclusive by default, ethically grounded, and genuinely useful for the people who need them most.

We’re excited to be part of a community that’s not only talking about financial inclusion but actively building it — through open banking, user-centric design, and collaborative innovation.

Here’s to a more inclusive future.