MetLife Foundation Creates Partnership to Innovate Financial Services for Real People
MetLife Foundation and ideas42, a nonprofit behavioral design lab, created a partnership to innovate financial services based on the latest research from the science of human behavior.
Over the past two years, they have examined the behavioral barriers standing in the way of financial health for low-income people in two pilot markets, Mexico and Chile, and designed solutions that facilitate retirement savings, short-term savings and access to credit.
To enable financial health for millions, the full spectrum of consumer financial products and services—from retirement savings, to short-term savings, to credit accessibility—should be designed for how real people act, using insights from behavioral science. In the coming year, we will release more information on the impact of these designs. The important outcomes of the partnership between ideas42 and MetLife Foundation can support the wellbeing of many lower-income people throughout Mexico and Chile—as well as create a foundation on which to build future financial innovation in these countries and many others. …