NatWest, Nationwide and HSBC UK Join CFIT Coalition to Revolutionize Financial Inclusion

Major UK banks including NatWest, Nationwide, and HSBC UK have joined the Centre for Finance, Innovation and Technology’s (CFIT) Financial Inclusion Coalition. The group will develop a "Supported Payments" framework to help vulnerable customers manage money safely, addressing a systemic gap that currently forces many users to share sensitive security credentials with third parties.

What was announced

The coalition aims to create a formal middle ground for customers who require assistance with daily financial tasks but do not need the restrictive legal oversight of a Power of Attorney or deputyship. Currently, people with learning disabilities or those requiring temporary support often resort to "unsafe workarounds," such as sharing PINs, physical cards, or online banking passwords. The new framework is designed to provide independence and control to these customers while establishing safeguards for the banks and the trusted third parties assisting them.

The initiative stems from over two years of work by Project Nemo, a disability inclusion movement that transitioned from a grassroots project into a cross-sector effort. A key research publication led by Nationwide previously identified that existing banking arrangements fail to support this specific demographic. The coalition's formation follows the recent Fintech as a Force for Good conference in London, where the Economic Secretary to the Treasury welcomed the initiative.

Throughout the remainder of 2026, the coalition—which includes the UK Government, regulators, technology providers, and the Third Sector—will conduct a series of focused sprints. These sessions will test the technical and legal components of the Supported Payments model. Key areas of focus include digital identity verification and the development of a Trust & Governance Framework to assess a customer’s capacity to use the service.

"For too many people, getting help to manage their money still means giving up more control than they should have to. Tackling that challenge requires coordinated action across the industry. CFIT is here to do exactly that: marshal the expertise, commitment and resources needed to move beyond recognising the problem to developing and testing practical solutions that deliver meaningful change."

Anna Wallace, CEO of CFIT

The companies involved

The Centre for Finance, Innovation and Technology (CFIT) acts as a central body for fintech coordination in the UK, tasked with unblocking barriers to growth and innovation. It is joined in this coalition by several of the country’s largest financial institutions. NatWest is a dominant player in the UK retail and commercial banking sector, with a significant presence in the fintech ecosystem. Nationwide, originally a building society, has taken a leading role in the research phase of this project through its involvement with Project Nemo. HSBC UK also joins the initiative, representing another major pillar of the UK’s high-street banking landscape. These institutions are working alongside the "Third Sector" and individuals with lived experience to ensure the framework meets practical needs. The coalition builds on the momentum of Project Nemo, which grew from a grassroots initiative focused on disability inclusion into a wider cross-sector movement.

What FF News has reported before

FF News has followed the digital transformation and inclusion efforts of these institutions closely. We recently covered how NatWest and NVIDIA Partner to Master UK Accents with AI Speech Recognition to improve accessibility for banking customers. Additionally, we reported on the UK Treasury Appoints Major Banks to Lead Digital Gilt (DIGIT) Pilot Issuance, a project involving several of the same major lenders. Our coverage also includes HSBC UK and FGF Urge Government Action to Unlock £615bn from Underserved Entrepreneurs and how NatWest Drives 23% Brand Lift Using Targeted Programmatic Video for SME Banking.

What this means

This announcement highlights a long-overdue shift in how the industry handles "vulnerability." For years, the binary choice between total independence and total legal surrender via Power of Attorney has left millions in a security vacuum. By formalising "supported" access, the industry is finally acknowledging that digital identity is not just about the individual, but about the circles of trust surrounding them. This moves the needle by standardising a third-party access model that could eventually become a regulatory benchmark. However, it raises difficult questions regarding liability: if a "trusted" party misuses a supported payment tool, the legal burden of proof for banks becomes significantly more complex.