Call us on: 03333 444019



CEO thoughts: Fighting the Poverty Premium

We have been selected as one of five start-ups to work with Wayra UK to eliminate the poverty premium within the next 10 years. The poverty premium is when people on lower incomes have to pay more due to a lack of credit and consumer choice. On average, it costs the poorest in society £490 a year. Providing more choice and better purchasing options means that families have more cash in their pockets, a vital first step to improving their lives and something that we believe is directly linked to digital inclusion.

 

If you look at a single parent on a low-income threshold, who must rely on a prepayment meter for gas and electricity, then the poverty premium raises considerably. For instance, some barriers such as paying £5 to receive a print copy of your electricity bill compared to an online version can be quite significant. Furthermore, this is not an issue that affects only a few. A study conducted by Bristol University showed that only 1% of low-income households were not incurring some form of poverty premium.

 

When we get people online, we offer them choice of what they consume and an alternative avenue to generate income. They can negotiate energy bills, readily access bank statements and they can even look around for the best interest rates on loans. When we work with people to get them online, we teach them how to dispute bills, how to use comparison websites and introduce them to apps that help them save and keep track of their income.

 

Indeed, going digital is ranked as the number one priority for CIOs of banks, over the past two years, have seen 1,000 high street banks close. We have a responsibility to make sure that the 14 million people who are currently living in poverty in the UK are not left behind in a world that increasingly favours the digitally literate.

News Archives

View All News Articles
'Follow us' on Twitter 'Like us' on Facebook
Latest News
  • Cash in the time of Covid-19: A tale of financial exclusion

    24.11.20

    Financial exclusion rates are on the rise thanks to Covid-19. But what are the solutions to this significant finance problem in a post-pandemic world, asks Matthew Adam, chief executive, We Are Digital? Cash is fighting to survive Covid-19. Globally, from … Read more »

  • Money troubles: Financial exclusion and COVID-19

    18.11.20

    Global financial exclusion rates are on the rise thanks to the COVID-19 crisis. Matt Adam, Chief Executive, We Are Digital, outlines five ways we can solve the world’s money troubles as we head back into lockdown Reading the news, with … Read more »

  • We are digital urges people to open up about personal finances in support of talk money week

    09.11.20

    We are digital urges people to open up about personal finances in support of talk money week Talk Money Week (9-13 November) encourages people to have more open conversations about their money and pensions Talking about money more important than … Read more »

'Follow us' on Twitter 'Like us' on Facebook
Get in touch

Interested in finding out more about our courses, have a passion to become a tutor or you’ve got a question but not sure who to ask? Then get in touch with us.

Phone: 03333 444019

Email: info@we-are-digital.co.uk

Complaints:

You can get in touch with our Customer Services Department at customerservices@we-are-digital.co.uk













Silver Training has undergone a complete rebrand and will now be known as We Are Digital. Our services remain the same. We hope you enjoy navigating our new website!