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<p>GOV.UK Verify has agreements with seven certified companies that the government
has approved to verify users’ identity. The certified companies have to meet government
and international standards for security and data protection.</p><p> </p><p>For a
GOV.UK Verify user to have their identity verified, the certified companies look at
a range of evidence and checks to establish that users are who they say they are.
There are five identity proofing and verification elements involved, and the companies
have to achieve thresholds in each element before they can verify someone’s identity.</p><p>
</p><p>We are committed to delivering a well-functioning and sustainable consumer
credit market which is able to meet the needs of all consumers. In March, the government
hosted the first meeting of the Financial Inclusion Policy Forum, a new key initiative
bringing together government, regulators, industry and the third sector to coordinate
action and provide leadership in tackling these challenges. The Forum’s mission is
to ensure that individuals, regardless of their background or income, have access
to useful and affordable financial products and services, including affordable credit.</p><p>
</p><p>The government also supports credit unions, which provide an affordable alternative
to high-cost credit. In the Autumn Budget 2017, the government announced its intention
to help the sector expand by increasing the number of potential members of credit
unions from two million to three million. In addition, from this year a greater proportion
of funds recovered from illegal money lenders will be allocated to incentivise vulnerable
people to join, save, and borrow with a credit union instead of turning to loan sharks.</p><p>
</p><p>In addition, the Department for Digital, Culture, Media and Sport has responsibility
for setting the direction for the spend of dormant assets funding. In March 2018,
the Department, with the Big Lottery Fund, published a statement of intent for £55
million in funding for financial inclusion. This statement sets out that the money
will be put towards increasing the use of fair, affordable and appropriate financial
products and services. This includes credit products and services, along with savings
and insurance products and services. Following an ongoing engagement exercise, Ministers
are expected to issue formal policy directions to the Big Lottery Fund about the detailed
focus of a programme and what it should achieve in summer 2018</p>
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