Technology helps to connect people better. It helps to connect us to other people, places, things, programs.
Anything that once seemed inaccessible is now accessible at the tip of your fingers.
This means that Americans anywhere now also have access to financial help that they didn’t necessarily have access to before.
Millions of Americans are underbanked, have no credit or poor credit, and haven’t known about options available to them if they needed financial assistance.
Now, they do.
What kind of financial assistance do they have access to now?
Financial options for all
Technology brings everyone and everything closer.
“There are 2.5 billion individuals around the world currently lacking access to traditional financial products,” said Shivani Siroya, the CEO and founder of Tala, a financial technology company with a focus on emerging markets.
That includes “the ability to save their money securely, to be able to earn yield on that, to be able to make simple payments that are essential to their daily lives, and to be able to grow their financial stability over time.”
Here are some options that all now have access to:
Access to loans
If you have a phone or computer now, you can apply for a loan anywhere, anytime. Banks and credit unions have all gone digital so access is much easier. And if you don’t have a credit score or you have poor credit, there are safe and secure options for you as well. Learn more about TrueConnect’s programs here.
Emergency savings programs
Many Americans barely have any money saved in their emergency savings account, if any money saved at all. There are programs out there that can help you save small amounts every paycheck or with every purchase. These options are here to help you become a better saver so you are prepared for whatever life throws at you.
Financial rewards
Changing spending habits can be challenging which is why financial rewards can be so valuable. Just like credit card points, these rewards can be built through your regular purchases (groceries, gas, etc.) and can be redeemed for cash or in other rewards of your choosing.
Credit counseling
Talking about finances when young is slowly being implemented across the country in schools which is fantastic. However, many of us now still need guidance on our finances–how to save, pay off debt, prepare for emergencies, prepare for retirement, and how to invest. Finding and working with a credit counselor can all be done online anytime, anywhere.
Financial Wellness Platform
Technology has made financial security a little more accessible. And it has made financial options available to everyone rather than those who already had easy access based on their financial standing.
Offering a Financial Wellness Platform that encompasses these programs (and more) is a great benefit to provide your employees.
To learn more about TrueConnect’s Financial Wellness Platform, with access to financial advisors, emergency savings plans and loan options for your employees, click here.
