Changing behaviours around online transactions

Published: 22nd Jan 2019

Digital exclusion is a compounding factor of the poverty premium, but financial capability interventions don't often introduce participants to digital tools. In this report, we demonstrate how digital skills can be embedded in financial capability support. In turn, we show the impact that transacting online can have on financial capability.

There is a consensus that goods and services are cheaper online. Those unable to access the internet do not have access to these savings. The number of people in the UK without basic digital skills is currently 11.5 million. In 2016, the Lloyds Consumer Digital Index suggested that low-income individuals could save up to £516 each year by being online. By supporting people to transact online safely, financial capability providers can help them to save money.

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