MetLife Foundation Seeks to Increase Financial Well-Being
MetLife Foundation supports Common Cents Lab, a financial research lab at Duke University that collaborates with chosen financial services providers to custom design, test, and launch new features and products that aim to increase financial well-being for 1.8 million low- to moderate-income (LMI) households in America.
The Common Cents approach to designing financial interventions is informed by a three-step process for behavioral diagnosis that includes identifying the specific and desired key behaviors, removing the barriers impeding that behavior, and then amplifying the benefits of that behavior.
"MetLife Foundation believes that behavioral science can help improve financial well-being around the world. We've partnered with Common Cents Lab because they are a leader in this field. For the past two years, we've seen them work closely with fintech companies, credit unions, and non-profits to design and deliver products and services to low-income individuals that are making it easier for them to achieve their financial goals," said Evelyn Stark of MetLife Foundation. …