Systemic Barriers to Financial Inclusion Project: Rapid Literature Review
Rooted Finance and Money A+E, 2025
This rapid literature review was commissioned by Rooted Finance and Money A+E and conducted by ClearView Research. It forms part of a wider programme focused on tackling inequalities in the UK’s financial system and improving outcomes for diverse ethnic communities.
Why This Research Was Needed
Across the UK, Black and ethnic minority communities continue to face a financial system that was not built with them in mind. Many people experience the “ethnicity premium” — paying more for essentials like credit, insurance, and mortgages, even when their financial histories match those of other groups.
This research was commissioned to understand the systemic, structural, cultural, and digital barriers that drive financial exclusion, and to identify solutions that can help create a fairer, more inclusive financial landscape.
Key Findings
The Ethnicity Premium
Ethnic minority communities often pay more for credit, insurance, and mortgages due to systemic bias.Structural Barriers
Gatekeeping and poorly tailored financial education limit fair access to financial opportunities.Algorithmic Bias
AI and credit-scoring tools disproportionately reject minority applicants and reinforce discrimination.Leadership Gaps
A lack of diverse decision-makers and weak regulation allows exclusion to persist.Alternative Models
Community-based saving and lending offer fairer approaches and should inform future policy.
For further information or media inquiries, please contact: Dr Nathania Atkinson, Senior Project Consultant, nathania@clearviewresearch.co.uk
