Ideas
Explore the world's #1 largest database of ideas and innovations, with 461,612 inspiring examples.
Trend Reports
Discover why 1,241 brands rely on our AI-powered Trend Reports to get better, faster insights.
Newsletter
Join 321,004 subscribers who rely on our weekly newsletter to keep up with need-to-know trends and insights.
How to Hunt
Learn more about how to hunt megatrends, ideas, patterns and opportunity.
Consumer Insights
Uncover major shifts and emerging opportunities with our exclusive PRO research.
Trend Reports
Discover why 1,241 brands rely on our AI-powered Trend Reports to get better, faster insights.
Newsletter
Join 321,004 subscribers who rely on our weekly newsletter to keep up with need-to-know trends and insights.
How to Hunt
Learn more about how to hunt megatrends, ideas, patterns and opportunity.
Advisory & Services
Accelerate innovation and ignite disruptive thinking with our award-winning programs and research.
Trend Reports
Get fast, customized trend reports, presentations and deep dives 20x faster than traditional research.
Plans
Get started today with a free consultation, our self-serve tools, or a dedicated program.
Articles & Magazine
Get inspired with our 4,212 innovation strategy articles, keynote, videos and innovation tools.
Innovation Awards
Trend Hunter’s Innovation Strategy Awards recognize the best innovation tactics gathered from our interviews with some of the world's most notable business leaders, authors and change makers.
Advisory & Services
Accelerate innovation and ignite disruptive thinking with our award-winning programs and research.
Innovation Assessment
Enhance your innovation potential with a deeper understanding of your unique innovation archetype and how your organization benchmarks.
FuturistU
Prepare for the years ahead with 100+ lessons, tactics, tools and frameworks with our full learning database.
Innovation Books
Join 20,000,000 people getting better and faster with our New York Times Bestselling books and keynote videos.
Jeremy Gutsche
Ignite your event or virtual event with our CEO, a NY Times Bestselling Author and one of the top innovation keynote speakers.
Our Team of Speakers & Virtual Presenters
Inspire your group with our most popular speakers on innovation, trends, change and futurism.
Custom Training & Events
Bring the Future Festival experience directly to your team or co-hosted custom event.
Custom Masterclasses
Join the world's leading brands who leverage our custom programs to accelerate innovation.
FuturistU 5-Day Program
Become a Futurist with our immersive 5-Day program at Future Festival World Summit.
Online eLearning
Learn the fundamentals of futurism and trends with 100+ online courses about innovation.
How to Hunt
Learn more about how to hunt megatrends, ideas, patterns and opportunity.
Contact
Get in touch to learn more, ask a question or submit a tip.
About Us
Learn more about Trend Hunter and how we accelerate innovation.
Follow-Us
Join our 3,500,000 social media followers, on the cutting edge.
How to Hunt
Learn more about how to hunt megatrends, ideas, patterns and opportunity.
FAQ
Get answers to common questions about Trend Hunter.
Community
Stay on the cutting-edge with the help of the Trend Hunter community.
Team
Meet the team trusted by hundreds of leading businesses worldwide.
Jobs
Find opportunities to accelerate your career with the #1 Trend Firm.
News
Catch up on noteworthy Trend Hunter news and media mentions.
Join
Build a portfolio and put your trend-spotting abilities to the test.
Advertising
Supercharge your marketing by partnering with Trend Hunter.
Portfolio
Visit your public portfolio and browse your past articles.
Add a Trend
Write up an article and showcase your trend-spotting skills.
My Trends
Edit your articles and see how they stack up on the leaderboards.
Settings
Edit your profile, connect your social media accounts, and more.
Add a trend, customize your dashboard, or track topics.
Future Festival
Innovation Events
Join the world's top innovators at our in person events.
Free Webinars
Learn to innovate through chaos, navigate the new normal and maintain work culture from home.
Custom Training & Events
Bring the Future Festival experience directly to your team or co-hosted custom event.
Search our database of 461,612 cutting edge ideas.

Alternative Loan Products

Fair Finance Offers Affordable Banking to Urban Populations

— October 3, 2010 — Social Good
Launched in 2004, Fair Finance is a London-based social business that offers financial products and services to those who are often denied access to honest loans and consulting. Mainstream banks tend to leave people out, and unfortunately, those left behind are usually those who are the most in need of secure and just financial support.

Fair Finance’s four London offices offer three products and services: personal loans, business loans and free financial advice. Available to anyone who lives or works in London, all of Fair Finance’s loans come with flexibility, free consulting and no hidden fees.

As a self-identified social business, Fair Finance explicitly aims to improve the lives of London’s communities by providing a unique service that commits itself to honesty, trust and affordability. By offering products and services that are straightforward and accessible, Fair Finance opens the door to many individuals who have been previously tricked into extortionate credit. One of the business’ many philosophies, which is also a particular feature of the seven principles of social business developed by Professor Muhammad Yunus, is that profits will be reinvested back into the company to benefit the customers and ensure economic sustainability. In many ways, Fair Finance is a replica of Yunus’ Grameen Bank, which offers loans and banking for the poor in Bangladesh.

Because banks are inclined to refuse low-income customers who are deemed as unattractive clients, many of Fair Finance’s clients are left to use exploitative lenders that only worsen their overall economic condition. According to Managing Director Faisel Rahman, one reason why Fair Finance was initially created was to “act as the intermediary between the financially excluded and the included –- by giving advice, building credit histories and providing sustainable alternatives to extortionate lenders preying on poor people.”

A great number of Fair Finance’s customers are marginalized not only in the mainstream financial industry, but also in London society at large, despite its multiculturalism, such as immigrants and minority groups. According to Cities of Migration, a website which aims to improve immigrant integration practices and policies, more than 60 percent of Fair Finance’s personal loans and 83 percent of business loans are given to people of black and minority backgrounds.

Fair Finance’s attempt to revolutionize personal finance through honest and transparent practices has been recognized by a number of organizations. For example, in 1999, Fair Finance was praised as an example of best practice by the National Strategy for Neighbourhood Renewal. In 2001, Fair Finance was commended in the Bank of England’s 9th Annual Report on Small Businesses as a “model of community-led innovation through partnership working.”

Fair Finance is a socially responsible lender that aims to counter the systemic forces that exclude people from established institutions and contribute to the poverty trap. Regardless of location, gender, race and class, Fair Finance gives many people who were previously considered unbanked the opportunity to have access to trustworthy financial products and services.

Contact Information:
Fair Finance Website
18 Ashwin Street
Dalston
London E8 3DL
UK
Telephone: 0207 780 1777 (Stepney) or 020 7254 1976 (Dalston)
Trend Themes
1. Socially Responsible Lending - Disruptive innovation opportunity: Explore the development of financial products and services that prioritize social impact and inclusivity.
2. Transparent and Accessible Banking - Disruptive innovation opportunity: Create user-friendly digital banking platforms that make financial information and services easily understandable and available to all.
3. Community-led Innovation - Disruptive innovation opportunity: Foster partnerships between financial institutions and community organizations to develop innovative solutions that address the specific needs of marginalized populations.
Industry Implications
1. Financial Services - Disruptive innovation opportunity: Integrate technology and customer-centric approaches to transform traditional banking models and increase financial inclusion.
2. Social Impact Investing - Disruptive innovation opportunity: Support the growth of investment strategies that prioritize social and environmental returns alongside financial performance.
3. Digital Transformation - Disruptive innovation opportunity: Leverage digital technologies to reimagine financial services and create more accessible, transparent, and inclusive banking experiences for all.
0.9
Score
Popularity
Activity
Freshness