The FCA's Discussion Paper sets out how consumers? financial needs are changing, and the challenges consumers will face in future. It analyses the financial needs of three generations of financial services users - Baby Boomers, Generation X and Millennials. The UK Finance response is focussed on the points raised by the FCA on mortgages and consumer credit. Consumer credit providers apply responsible lending criteria in the same way to all age groups, and we believe this works well. For mortgages, UK Finance data shows that the supply of types of mortgage products are responsive to the demands of different age groups. However, innovation in product design could go further, especially in anticipation of the changing needs of older borrowers over time. Our response sets out some of the barriers to innovation and potential solutions that the FCA could consider.