Video tutorial: Hargreaves Lansdown’s Nathan Long on how fintech can help staff better manage money
Speaking at the REBA Innovation Day he said helping staff manage what can otherwise be a "pretty bleak" financial situation was vital. “This is a big problem. People have stretched pay packets within your workforce and are carrying too much unsecured consumer debt,” he said.
Long said new fintech apps and platforms are helping to improve accessibility to financial management by allowing people to better manage their money and investments within a single view. Open banking also has the potential to allow staff to better manage their money too, he said, especially if it was to extend to pensions. “The ability to see everything in one place is going to be really powerful for individuals,” he said.
He talked about a future where staff could see all their financial information in one place – a future phase he called open wealth. “All of a sudden technology allows people to completely transform the way they manage their money because they can access it through an app, they can look at this information in one place and their finances become a bit more real,” he said.
This video was recorded at the REBA Innovation Day 2018, held in London on 22 November.
In partnership with Hargreaves Lansdown
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