DIGITAL OPPORTUNITIES IN A CHALLENGING CONTEXT

What is Digital Financial Capability

Using technology to increase skills, motivation,

confidence and knowledge around money matters.

The Ministry of Thrift does this by

•  Providing better access to relevant information

•  Organising and present the information more

effectively

•  Designing digital tools for behavioural change

regarding money

But there are also significant opportunities and benefits such as:

Empowering people - choice and control and access to lower-cost, better services.

Efficiency savings – £340m in annual savings for landlords in communications costs alone.

£530m in annual consumer savings to residents.

Even the lowest income families will save up to £170 a year from online deals.

Making the most of digital access

Of the 58% of residents online, many may not be making the most of the internet, some of it due to skills, and confidence but also due to motivation, engagement and design.

However if we understand which online applications are being used, this can inform the design of solutions.

Most popular:

42 million UK Facebook users 32.2 million Twitter users 30.6 million -Google, Yahoo and Hotmail

There are 41.9 million adults in the UK

“10 times more customers had

taken out loans via their mobile

phones in 2011 (than through web)

and nearly 1,000 people were

downloading a Wonga iPhone

app every day.”

On Google Play, downloads

were over 100,000

Payday lenders are successfully engaging the financially vulnerable

Support services are often less visible

Many support services suffer from a lack of

visibility, poor design, less engaging user

interface, and perhaps too much focus on the

‘problems’

This may be due to lack of resources, but also

lack of expertise and perhaps not being

completely comfortable with new technology

themselves.

We can do it

Whilst there is an argument that generally private

entities have the financial clout to make their

marketing activities more successful and their

services better designed.

It is also true that the rise of social media and

open source software has leveled the playing field

much more, and for those with the will and a much

more modest investment better use and creation

of digital tools is possible

An Android tablet can be purchased

for around £50 including keyboard

and cover They are affordable –

A Samsung smartphone can be

obtained free on a £7 a month subscription

Where are people at: Mobile

Where are people at: Mobile

Where are people at: Mobile

Where are people at: SMS

SMS is the most widely used data application worldwide, and

whilst chat applications like Whats App appear to be taking

over, SMS has a key advantage, even a basic ‘dumb’ phone

can send and receive SMS so everyone with a phone has

access. As 92% of adults in the UK personally own a phone

then designing solutions around SMS could be a useful

option.

Currently there are a range of options available allowing

texting via computer as you could an email, email to SMS

and vice versa. Also many of the big players Facebook,

Twitter and some daily discount sites offer information and

interaction via text message.

Where are people at: Apps

Although can sometimes be seen as a fad, due to the influence

of Apple many apps present a better user interface and

experience than many websites. They have been designed to

be intuitive, so they can used with little explanation. However,

that is not a given, apps and mobile sites must be well

designed.

Currently many apps as well as being well designed, come with

tutorials and overlayed visual instructions that are very helpful.

In fact M-learning, personalized, relevant learning experiences

for the individual is a growing trend.

Since 2010 app usage has been increasing by about 4 million

users per year. 2012 figure is estimated to be 28.66 million

users

Case Study

Hammersmith & Fulham Report It app

In terms of cost a very basic app may cost as little as £500

and something very complicated could cost £30,000

upwards and of course there is the maintenance to be

factored in.

Case Study – Hammersmith and Fulham a local authority in London,

implemented the Report It app last year. The ‘Report It’ app

that enables residents to report issues such as graffiti, fly-

tipping, pot holes etc and is available across all mobile

platforms and the web. They invested £23,695 in the

programme, which may have included marketing initiatives

also, but have already boasted efficiency savings of

£23,000.

Mobile websites: A good option

Mobile websites are sites that have been

designed for use on a smartphone or tablet.

They can often look and feel like an app

and can often provide a better version of

the original site.

They are also much cheaper to develop as

they run from the internet rather than within

the phone. The user experience may not

be quite as good as having a native

application and will get interrupted when

there is no internet access but it may be a

cost effective way to pilot an intervention.

Where are people at: Location

Location, location, location Having IT training centres is an important tool in the mix of solutions, but we should also consider the need to go where people are, particularly when considering the most disengaged.

We have come across some fantastic examples of how bringing technology to where people are can help provide the motivation for them to get engaged.

Why not take some tech to an actual café rather than internet café?

What about a digibus like Peabody ‘s or the ‘Our Digital Planet’ outdoor exhibition that toured up and down the country. http://www.ourdigitalplanet.co.uk/#exhibition-images

We can take tech to people and make it part of everyday life

Our initiatives

Money Guides Plus - Welfare Reform Support

Using Instant chat coupled with screen share

technology residents could be supported in

completing benefits applications as well as

supporting with other money issues remotely.

Housing associations could use existing staff to

further reduce costs.

Our initiatives

Money Guides

An online money mentor or peer-peer

type initiative.

Money Guide volunteers help people via

instant chat to navigate and find useful

information on money matters, including

signposting to support agencies such as

Turn2Us.

Our initiatives

Money Maps

This initiative is designed for light internet users, particularly

those who are more likely to operate geographically close to

home. The purpose is to draw people to the site to make

use of hyper local discounts which they benefit from but

also create highly visible links to information and

organisations regarding money matters such as budgeting,

affordable credit and other online tools.

This tool will also provide deals by text message.

Access for all via SMS

Providing information to people via SMS

subscriptions

The SMS subscription version of our Money

Management Stationery provides the details for

residents to receive free SMS notifications relating to

various topics such as budgeting tips, where to get

help with debts, affordable credit and more.

Our initiatives

MY MONEY SUITE

Thank You

E: enquiries@ministryofthrift.co.uk T: @MinistryThrift W: www.ministryofthrift.co.uk

CONTACT DETAILS

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