10059041Pairing Responsible Banks with Responsible PeopleClosedCollaborative R&DInnovate UKSeveral sections of society are systematically underserved by Financial Services (FS) because the methods used to assess their financial risk are outdated, opaque, and reliant on the presence of a credit history. The limitations of the classic credit score are well recognised in the FS industry, however until now there has not been an alternative solution presented to the market which could convincingly fill the gap for assessing thin file customers. At Good With, we are on a mission to help underserved groups to access a holistic, just-in-time, personalised financial education so they can improve their financial capability and gain access to fairer finance, sooner. Using our innovative methodology, which combines insights about subjective experiences of financial behaviour with observed Open Banking data, we are developing an educational framework and scoring solution that will support underserved groups to realise their financial potential earlier, and avoid punitive borrowing costs typically offered to thin file customers. This project will enable Good With the opportunity to validate our approach to help realise a mutually beneficial outcome for end users and FS. Our vision is of a world where individuals take ownership of their risk profile, which they can grow, share, and ultimately transport globally, to ensure inclusive servicing, improved financial capability, and reduced financial stress for all demographic groups.