CDT Alum Dr Ana Rita Pena Leads Discussion on FlexMyRent Trial and the Future of Responsible Finance

Last week, the Centre for Responsible Credit, along with Horizon CDT, hosted an engaging event at the University of Nottingham highlighting the findings of their innovative FlexMyRent trial. The event brought together researchers, policymakers and industry experts to discuss flexible rent payments for low-income tenants and what it means for credit risk assessment.

The event was chaired by Professor Peter Cartwright, Professor of Consumer Protection Law at the University of Nottingham and Deputy Head of Education and Student Experience at the School of Law. With expertise in consumer protection, criminal law and banking regulation, he guided the discussions and ensured an insightful exchange of ideas.

Chief Executive Officer Damon Gibbons set the scene with some background on FlexMyRent. With over 30 years of experience designing and delivering services for disadvantaged communities, he shared valuable insights into the motivations and goals behind the initiative.

One of the key contributors was CDT alum Dr Ana Rita Pena, lead author of the FlexMyRent evaluation report. Rita, who completed her PhD in early 2025, was awarded the UKRI Horizon CDT Impact Grant while finishing her studies. Her research focuses on consumer credit, machine learning, privacy-enhancing technologies, and responsible finance. At the event, she walked the audience through the main findings of the evaluation report, which was funded by the CDT Impact Award.

Following Rita’s presentation, Maria Booker, Head of Policy at Fair By Design, shared her response. Fair By Design is dedicated to tackling the poverty premium, ensuring that essential services like energy, credit, and insurance don’t cost more just because someone is on a low income.

Next, Professor Karen Elliott, Professor of Practice in Finance and FinTech at the University of Birmingham Business School and co-Director of the university’s FinTech MSc program, offered her take on the findings, bringing in valuable perspectives on what they mean for the financial sector.

The event wrapped up with a group discussion on what’s next for flexible rent solutions, followed by networking and lunch—giving attendees a chance to continue conversations and explore potential collaborations in a more relaxed setting.

The FlexMyRent trial, which ran until March 2024, involved over 350 social housing tenants. It allowed them to adjust their rent payments throughout the year, giving them interest-free flexibility when they needed it most. By reducing reliance on high-cost credit, the scheme helped tenants manage cash flow more effectively while also improving engagement with support services and strengthening relationships between tenants and landlords.

A key takeaway from the research, funded by Horizon CDT, was the importance of trust in financial decision-making. The study found that tenants were more open about their financial struggles when they felt supported, and this transparency helped predict success in the scheme—without the need for traditional credit scoring. These findings suggest that trust-based financial relationships could reduce the need for costly and intrusive financial monitoring.

The Centre for Responsible Credit is committed to making credit markets fairer and more supportive. As a registered charity, they work to reform regulations, improve lending practices and offer practical solutions like FlexMyRent. Their goal is to empower lower-income communities, ensuring they have access to financial tools that work in their best interests.

The event was a great success, sparking important conversations about the future of responsible finance. With researchers like Dr. Ana Rita Pen leading the way, the industry is moving towards more ethical, people-centred financial solutions. The insights shared at this event have the potential to shape future policies and practices, making credit markets fairer and more inclusive for those who need them most.

It’s exciting to see CDT alumni continue to make a real-world impact, using their expertise to drive meaningful change in financial services and beyond.

 

Originally posted at https://cdt.horizon.ac.uk/2025/03/24/cdt-alum-dr-ana-rita-pena-leads-discussion-on-flexmyrent-trial-and-the-future-of-responsible-finance/