How can FinTech leverage behavioral economics to help people become more financially secure? Sheana Ahlqvist talks to Wendy De La Rosa, co-founder of Common Cents Lab, a research lab that launches and tests products to help low-to-moderate-income Americans.

IN THIS EPISODE YOU’LL HEAR:

What kinds of Fintech products and apps effectively help people budget and save.

How certain Fintech apps could be hurting more than helping those below the poverty line.

Why lots of common features are ineffective and undermine our interest in savings.

Tricks from behavioural economics that anyone can use to get their spending habits in order.

How the needs of those in poverty are drastically different and what product managers can do to fit their unique needs.

Specific ways to remove friction around SNAP benefits, tax refunds and loan repayments to help people in poverty get ahead.

Frequency Budgets vs. Financial Budgets

What dark patterns are and how they apply to Fintech products.

How “round-ups” can help people save money in the long term.

How temptation plays a major role in how people deal with their money.

Sheana and Wendy also talk about the Stanford course Designing AI to Cultivate Human Well Being.

LINKS:

Common Cents Labs (Website)

Metlife Foundation (Website)

Digit (App)

Designing AI to Cultivate Human Well Being (Course)

Admit Hub (App)

The Way We Work (TED Series)

Wendy’s Stanford Student Page (Website)

Wendy’s LinkedIn (Website)

CNote (App)

OTHERS MENTIONED:

Tech Crunch

Forbes

30 Under 30 Forbes

PBS News

MetLife Foundation

Uber

Lyft

SNAP Benefits

Ford

Amanda McLaughlin

Jennifer Aaker

Fei Fei Li

LinkedIn

Facebook

Stanford University

Katy Milkman

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