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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

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    (22.04.21)

    We Are Digital, the Coventry-based digital training provider, has further strengthened its growing marketing team with two new senior-level appointments. As part of the organisation’s ambitious growth strategy, David Smyth has been appointed to the role of chief marketing and … Read more »


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  • As seen on Global Banking and Finance Review”.

    (09.02.21)

    By Matt Adam, chief executive of We Are Digital, outlines four key actions we can take this year to end the impact of financial exclusion.   Financial exclusion – the inability to access finance, banking and income – typically affects … Read more »


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  • The Shift to Remote Training: Challenges, Opportunities and the Future

    (09.12.20)

    Arjun Patel, Operational Delivery Manager When the Covid-19 lockdown came into force in March, as an organisation, We Are Digital didn’t want to sit back and do nothing. We primarily offered face-to-face training prior to this, but we quickly decided … Read more »


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  • We Are Digital partnership with PA Housing

    (08.12.20)

    Community investment and digital skills training provider We Are Digital has secured a contract with PA Housing to provide in-home digital and financial inclusion training to a targeted group of residents. The training will prove key to relieving isolation and … Read more »


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  • 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 »


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Latest News
  • We Are Digital strengthens marketing team with key new appointments

    22.04.21

    We Are Digital, the Coventry-based digital training provider, has further strengthened its growing marketing team with two new senior-level appointments. As part of the organisation’s ambitious growth strategy, David Smyth has been appointed to the role of chief marketing and … Read more »

  • As seen on Global Banking and Finance Review”.

    09.02.21

    By Matt Adam, chief executive of We Are Digital, outlines four key actions we can take this year to end the impact of financial exclusion.   Financial exclusion – the inability to access finance, banking and income – typically affects … Read more »

  • The Shift to Remote Training: Challenges, Opportunities and the Future

    09.12.20

    Arjun Patel, Operational Delivery Manager When the Covid-19 lockdown came into force in March, as an organisation, We Are Digital didn’t want to sit back and do nothing. We primarily offered face-to-face training prior to this, but we quickly decided … Read more »

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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

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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!

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