DURHAM, N.C., Sept. 17, 2019 (GLOBE NEWSWIRE) -- Duke University’s Center for Advanced Hindsight and Moneymap are embarking on an ambitious research initiative to develop evidence-based recommendations for scaling financial coaching to help employees maximize their money and reduce financial stress. The effort is currently taking applications for a limited number of employers to participate in the research, providing early access to results and free coaching services worth up to $135,000.
Financial coaching has been shown to improve financial wellness by providing expert, personalized guidance which empowers employees to achieve their financial goals. The joint research initiative will deploy a high touch, high tech approach to identify the most effective mechanisms of employee financial coaching (e.g. accountability, content, deadlines, etc.), as well as uncover the technological features that best amplify coaching’s benefits (e.g. message automation, video voicemail, artificial intelligence, etc.).
As part of the research, selected employer applicants will receive a fully-funded implementation of Moneymap’s services for up to 1,000 employees, a $135,000 value for selected employers. The initiative will also provide an advance copy of the full research study to help employers better understand which services lead to behavior change for their employees.
According to Mariel Beasley, Principal at the Center for Advanced Hindsight and Co-Founder of the Common Cents Lab, “Technology provides a unique opportunity to increase scale while improving the aspects of coaching that are changing financial outcomes. We are excited to continue to learn how coaching can be even more impactful through thoughtful and effective applications of behavioral science.”
“From looking at our own data, we see how Moneymap’s scalable coaching gets employees to take meaningful financial actions,” said Moneymap CEO Matt Iverson. “What we’re most excited about is an academically rigorous assessment of tech-enabled financial coaching. The implications for employers and the financial services industry are big, with actionable recommendations on more efficient and effective alternatives to today’s financial wellness approaches.”
Created in partnership with Dan Ariely’s Center for Advanced Hindsight, the Moneymap platform provides the human element of financial coaching while automating personalized email, SMS and in-app communications to drive behavior change. The platform also incorporates the latest behavioral research around financial decision-making in a three-phase program designed to change employee behavior and drive benefits adoption.
Employers can learn more about the research, watch a short video and apply for a free Moneymap implementation here: https://financialwellness.us/free/.
About Moneymap
Moneymap improves employees' financial wellness through behavioral coaching that’s high touch and high tech. Developed with renowned behavioral economist Dan Ariely and his team at Duke, employees work with a dedicated financial coach to make the most of their money, utilize key benefits and reduce financial stress. To learn more, visit: https://financialwellness.us/
About Center for Advanced Hindsight
The Center for Advanced Hindsight is Dan Ariely’s applied behavioral science lab at Duke University that specializes in health and financial decision-making. Researchers at the Center for Advanced Hindsight study, design, test and implement behavioral interventions that help people be happier, healthier and wealthier. Bridging the gap between research and real world applications, the Center partners with a wide variety of organizations, from tech companies to nonprofits. To learn more, visit: http://www.advanced-hindsight.org
Press Contact:
Matt Iverson
Moneymap
415-250-6727
matt@financialwellness.us