Polly Jean Harrison, Features Editor of the Fintech Times, joins Patricia Wu to discuss some significant developments in the lending industry and financial inclusivity in Europe and the Middle East.
The pair kick off the discussion with insights from a new report by Lockbox, which highlights concerning gaps in financial literacy among UK adults. Despite the average credit score being 644, a third of adults struggle to understand basic borrowing terms. The report reveals that many are turning to high-interest lending options, such as buy now pay later schemes, without fully grasping the implications.