Project Summary

The project aims to tackle financial exclusion affecting approximately 20 million people in the UK by analysing the financial data of Enterprise Credit Union (ECU, Merseyside), a Liverpool-based credit union recently engaged with the Institute for Financial and Actuarial Mathematics, University of Liverpool.  Through this analysis, we will gain insights into the financial behaviours (borrowing, savings, repayments) of excluded communities and work toward improving their credit worthiness and financial wellbeing via targeted financial education and tailored schemes. 

To achieve this, we will apply statistical and machine learning techniques to assess customer behavioural patterns linked to default and thus financial exclusion, considering various social, economic and psychometric factors. By working with ECU, we will leverage credit unions as key financial service providers to develop fair, affordable, and inclusive financial products. Additionally, we will design mathematical models to create financial strategies that encourage better saving habits, equitable loan access, and improved credit records.