The document discusses digital financial capability and opportunities to empower people through technology. It analyzes where people currently use technology, such as social media and mobile phones, and how payday lenders successfully engage customers online. It proposes initiatives like a mobile money management app, online money mentors, local deals through "Money Maps", and SMS subscriptions with financial tips. The goal is to provide affordable digital tools and information to help people build skills and confidence around money matters.

1. DIGITAL OPPORTUNITIES IN A
CHALLENGING CONTEXT

2. What is Digital Financial Capability
Using technology to increase skills, motivation,
confidence and knowledge around money matters.
The Ministry of Thrift does this by
• Providing better access to relevant information
• Organising and present the information more
effectively
• Designing digital tools for behavioural change
regarding money

3. But there are also significant opportunities
and benefits such as:
Empowering people -
choice and control and
access to lower-cost,
better services.
Efficiency savings –
£340m in annual savings for
landlords in communications
costs alone.
£530m in annual
consumer savings to
residents.
Even the lowest income
families will save up to
£170 a year from online
deals.

4. Making the most of digital access
Of the 58% of residents online, many may not be making the most of the internet, some
of it due to skills, and confidence but also due to motivation, engagement and design.
However if we understand which online applications are being used, this can
inform the design of solutions.
Most popular:
42 million UK Facebook users
32.2 million Twitter users
30.6 million -Google, Yahoo and Hotmail
There are 41.9 million adults in the UK

5. “10 times more customers had
taken out loans via their mobile
phones in 2011 (than through web)
and nearly 1,000 people were
downloading a Wonga iPhone
app every day.”
On Google Play, downloads
were over 100,000
Payday lenders are successfully engaging
the financially vulnerable

6. Support services are often
less visible
Many support services suffer from a lack of
visibility, poor design, less engaging user
interface, and perhaps too much focus on the
‘problems’
This may be due to lack of resources, but also
lack of expertise and perhaps not being
completely comfortable with new technology
themselves.

7. We can do it
Whilst there is an argument that generally private
entities have the financial clout to make their
marketing activities more successful and their
services better designed.
It is also true that the rise of social media and
open source software has leveled the playing field
much more, and for those with the will and a much
more modest investment better use and creation
of digital tools is possible

8. An Android tablet
can be purchased
for around £50
including keyboard
and cover
They are affordable –
A Samsung
smartphone can be
obtained free on a £7
a month subscription
Where are people at: Mobile

9. Where are people at: Mobile

10. Where are people at: Mobile

11. Where are people at: SMS
SMS is the most widely used data application worldwide, and
whilst chat applications like Whats App appear to be taking
over, SMS has a key advantage, even a basic ‘dumb’ phone
can send and receive SMS so everyone with a phone has
access. As 92% of adults in the UK personally own a phone
then designing solutions around SMS could be a useful
option.
Currently there are a range of options available allowing
texting via computer as you could an email, email to SMS
and vice versa. Also many of the big players Facebook,
Twitter and some daily discount sites offer information and
interaction via text message.

12. Where are people at: Apps
Although can sometimes be seen as a fad, due to the influence
of Apple many apps present a better user interface and
experience than many websites. They have been designed to
be intuitive, so they can used with little explanation. However,
that is not a given, apps and mobile sites must be well
designed.
Currently many apps as well as being well designed, come with
tutorials and overlayed visual instructions that are very helpful.
In fact M-learning, personalized, relevant learning experiences
for the individual is a growing trend.
Since 2010 app usage has been increasing by about 4 million
users per year. 2012 figure is estimated to be 28.66 million
users

13. Case Study
Hammersmith & Fulham Report It app
In terms of cost a very basic app may cost as little as £500
and something very complicated could cost £30,000
upwards and of course there is the maintenance to be
factored in.
Case Study –
Hammersmith and Fulham a local authority in London,
implemented the Report It app last year. The ‘Report It’ app
that enables residents to report issues such as graffiti, fly-
tipping, pot holes etc and is available across all mobile
platforms and the web. They invested £23,695 in the
programme, which may have included marketing initiatives
also, but have already boasted efficiency savings of
£23,000.

14. Mobile websites: A good option
Mobile websites are sites that have been
designed for use on a smartphone or tablet.
They can often look and feel like an app
and can often provide a better version of
the original site.
They are also much cheaper to develop as
they run from the internet rather than within
the phone. The user experience may not
be quite as good as having a native
application and will get interrupted when
there is no internet access but it may be a
cost effective way to pilot an intervention.

15. Where are people at: Location
Location, location, location
Having IT training centres is an important tool in the mix of
solutions, but we should also consider the need to go where
people are, particularly when considering the most disengaged.
We have come across some fantastic examples of how bringing
technology to where people are can help provide the motivation for
them to get engaged.
Why not take some tech to an actual café rather than internet café?
What about a digibus like Peabody ‘s or the ‘Our Digital Planet’
outdoor exhibition that toured up and down the country. http://
www.ourdigitalplanet.co.uk/#exhibition-images
We can take tech to people and make it part of everyday life

16. Our initiatives
Money Guides Plus - Welfare Reform Support
Using Instant chat coupled with screen share
technology residents could be supported in
completing benefits applications as well as
supporting with other money issues remotely.
Housing associations could use existing staff to
further reduce costs.

17. Our initiatives
Money Guides
An online money mentor or peer-peer
type initiative.
Money Guide volunteers help people via
instant chat to navigate and find useful
information on money matters, including
signposting to support agencies such as
Turn2Us.

18. Our initiatives
Money Maps
This initiative is designed for light internet users, particularly
those who are more likely to operate geographically close to
home. The purpose is to draw people to the site to make
use of hyper local discounts which they benefit from but
also create highly visible links to information and
organisations regarding money matters such as budgeting,
affordable credit and other online tools.
This tool will also provide deals by text message.

19. Access for all via SMS
Providing information to people via SMS
subscriptions
The SMS subscription version of our Money
Management Stationery provides the details for
residents to receive free SMS notifications relating to
various topics such as budgeting tips, where to get
help with debts, affordable credit and more.
Our initiatives

20. MY MONEY SUITE

21. Thank You
E: enquiries@ministryofthrift.co.uk
T: @MinistryThrift
W: www.ministryofthrift.co.uk
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