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GrowYourMoneyHub

Lead Participant: MONEYMATIX LTD

Abstract

GrowYourMoney Hub is committed to eradicating financial exclusion among underrepresented communities by seamlessly integrating two critical components, a cashback reward model and a transformative InclusiveNetPromoterScore (INPScore) rating system, within a dynamic marketplace platform. Our cashback model represents a paradigm shift in the approach to financial inclusion. It is designed to recognise and address the unique financial barriers marginalised individuals face and reward proactive engagement in responsible economic behaviour. The INPScore rating system, on the other hand, introduces a community-driven mechanism to evaluate financial institutions and their offerings transparently. It empowers marginalised communities to hold mainstream financial services accountable for their actions. Financial institutions are rated based on inclusive design principles, including consumer protection, accessibility, poverty premium reduction and consumer empowerment---motivating anchor organisations to adopt responsible, inclusive and equitable practices. INPScore fundamentally shifts the power dynamics within the financial sector, putting consumers at the forefront of change and driving the industry towards greater responsibility and inclusivity. The GrowYourMoney Hub addresses the pervasive financial exclusion experienced by under-represented communities in the UK. It is a pioneering initiative that empowers diverse communities, inspires individuals from all backgrounds and addresses pressing social, economic and environmental challenges.

Lead Participant

Project Cost

Grant Offer

MONEYMATIX LTD £50,000 £ 50,000

Publications

10 25 50