Project Nemo, a grassroots initiative advocating for inclusive banking, has released a landmark report highlighting the ongoing financial exclusion faced by adults with learning disabilities. Despite rapid advances in digital banking and a steep decline in cash usage—from 60% of transactions in 2008 to just 12% in 2023 (UK Finance)—many of these changes have left behind the 1.5 million people in the UK living with a learning disability.
The report, titled “Safe Spending for Adults with a Learning Disability: A Call to Action for Financial Services,” was launched at an event hosted by Nationwide Building Society. The gathering brought together fintech leaders, banks, charities, and advocates. Attendees included The Rt Hon Sir Stephen Timms MP, Minister of State for Social Security and Disability.
Digital Shift Excludes the Learning Disability Community
Digital banking has become the norm, but it lacks the tools needed for adults with learning disabilities to manage their money independently and safely. The Project Nemo report—funded by Nationwide—uncovers alarming statistics:
- 87% of people with learning disabilities and their supporters use risky informal workarounds to manage money.
- 32% don’t have a bank account in their own name.
- 61% say current banking services fail to meet their needs.
Many resort to sharing PINs, impersonating account holders, or using unregistered access methods, which increase vulnerability to fraud and abuse. Although some fintech solutions exist, they remain largely unknown or inaccessible to this group.
Key Banking Features Needed for Learning Disabilities
The report outlines several practical features that could make banking for learning disabilities more accessible and secure:
- Simple language and visual guides to aid comprehension.
- Customisable controls to meet individual needs.
- Notifications and supporter oversight, to flag risky transactions.
- Saving pots, Calm Mode for stress reduction, and wearable payment tools.
- Access to specialist customer support trained to assist users with learning disabilities.
These features promote both financial safety and independence, enabling users to make choices with confidence.
Inclusive Design Is Non-Negotiable
Joanne Dewar, Co-Founder and Project Lead at Project Nemo, emphasized the urgency of inclusive design:
“This report shows that trends we often label as progress are worsening exclusion for a vulnerable community. The financial services sector must prioritize accessible solutions—not only for people with learning disabilities but for many other underserved groups as well.”
Kris Foster, Project Nemo Co-Founder and a person with a learning disability, added:
“This is the first time our voices are truly at the center. We know what we need—now banks need to act. I don’t want others to go through the same struggles I did.”
Industry and Government Collaboration
Project Nemo is working alongside Kathryn Townsend—Nationwide’s Head of Customer Vulnerability & Accessibility and the UK Government’s Disability & Access Ambassador for Banking. Together, they’ve launched four focused workstreams to drive change, including research, awareness, and product development.
Townsend urged the wider banking industry to step up:
“Everyone deserves to manage money with dignity. We need to not only remove barriers but create better, inclusive systems by design.”
The Role of Charities and Financial Advocates
Mencap CEO Jon Sparkes supported the report, noting:
“Banking systems are often too complex and inaccessible. Project Nemo’s work is crucial to giving people with learning disabilities control over their finances—and their lives.”
Towards a More Inclusive Financial Future
The Project Nemo report serves as a wake-up call for the financial sector. The digital economy must work for everyone—especially those who need support the most. Banking for learning disabilities isn’t just about accessibility; it’s an opportunity for innovation and inclusivity.
As the UK works on its National Payments Vision and Financial Inclusion Strategy, this report provides essential insights that must shape future banking solutions. It’s time for banks and fintechs to design with empathy, inclusion, and real user needs at the core.
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