Ministry For Social Development GovTech Team BUILDING FINANCIAL CAPABILITY

TEAM FOCUS: BUILDING FINANCIAL CAPABILITY

The Ministry of Social Development project is aiming to build the financial capability and resilience of people, families and whānau which experience hardship by ensuring they have access to the required support ranging from preventive solutions to intensive interventions. Ultimately, the project wants to help people out of these difficulties or prevent the situation of financial hardship to begin with by creating a digital solution which improves access to existing products and support services. The solution will include access to a number of Financial Mentors aiming to educate people in the importance of improving financial capability and how to develop these skills.

 


 

What are you currently working on? 

The problem we are facing is that Kiwis in poverty struggle to meet their urgent financial needs in a safe, simple and sustainable way. We need to provide a solution that allows kiwis in poverty to access quick, safe money in a simple and user-friendly way. Once the urgent financial crisis has been solved, we want to support our clients by providing access to the wide network of financial capability service providers throughout New Zealand. 

 

What is the MSD project all about?

This project is aiming to build the financial capability and resilience of people, families and whānau experiencing hardship by ensuring they have access to a spectrum of support – ranging from preventive to intensive interventions. Ultimately, the project wants to help people out of hardship, or prevent them from going into hardship and poverty, by creating a digital financial solution that improves access to existing products and services, which will include a national reach of Financial Mentors. 

 

What difference will the project make to the NZ public sector?

Hopefully, this project will help Kiwis in poverty access the valuable, existing services in NZ to educate them on financial management and aim to reduce their debt overtime.

 

What are you hoping to achieve by the end of Lightning Lab GovTech?

To come up with an innovative digital solution to help Kiwis in poverty better connect with the existing services in a safe and secure way. 

 

What are you looking forward to the most during your time here at Lightning Lab GovTech Accelerator?

The ability to work in a collaborative way to create a really helpful and well-planned MVP (minimum viable product) and further develop the solution to become a successful reality.

 


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