Financial Capability

(Ben Green) #1

Financial Capability Strategy for the UK is a new service launched a few weeks ago. From what I understand of their site, they are a long-term financial advice service looking at your borrowings, savings, investments as well as day to day incomes and expenses then they predict your financial stability against general UK economy forecast (which is just a best guess of course). Someone correct me if I’ve misinterpreted any of that though.

It’s an interesting idea, but they’ve made their website with information overload, a cheesy and obviously scripted video, and a badly designed interface. The “toolkit” they provide in order to provide the service is a huge amount clicking, typing, reading extra guides and watching videos. Unfortunately I think the average user will be very disheartened by all that.

I think Monzo will eventually be in the position to provide all of this, or at the very least partner up with a different service provider, to give us the same service without having to enter any additional information.