Overview

The Cashless Society Working Party (CSWP) was formed in late 2016 with a number of volunteers. Its research delivers a neutral, analytical assessment of developments to comprehend benefits, risks and issues of a cashless society at global level, in the public interest. It provides insights into specialist economic topics, and identifies opportunities to learn from international experiences, and to adapt public policy. It also provides insights into stakeholder interests that underpin entrenched positions on the transition in progress.

Its first paper “A Cashless Society: Benefits, Risks and Issues” (referred to as the “Interim paper”) formed the basis for a broader body of work on a number of topics and supported contributions towards several public consultations throughout 2018. “A Cashless Society in 2018” continued Its global chronicle and presented the 2018 trends for the topic, followed by a paper discussing the rise of QR codes for payments, a key 2018 trend.

The CSWP started to take interest in the specialist topics of Central Bank Digital Currencies and crypto assets with a first article in The Actuary magazine in December 2018. This set the scene for a focus in these areas throughout 2019, with a specialist paper on the adoption of digital currencies by the life and pension industries. At the end of the first quarter, the paper “Understanding Central Bank Digital Currencies” seemed ominous of tumultuous events to follow in 2019. A later article about the potential of crypto assets for capital markets invited readers to think beyond payments.

Financial inclusion was the second area of focus for the CSWP in 2019. Starting with anecdotal evidence from Africa, the CSWP looked to draw lessons from developing regions for the potential benefit of countries such as the UK where de-cashing has been accelerating, with insidious effects on vulnerable residents. The CSWP has engaged with several events, written to stakeholders and published articles proposing a set of actions to manage the transition towards a less-cash society.

Outputs

2017:

2018:

2019:

2020

Chair: Ian Collier
Membership: 3
Established: 2016

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Events calendar

  • Spaces available

    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

  • Spaces available

    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

    Spaces available

    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

  • Spaces available

    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

  • Spaces available

    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.