Summary: “Handle It” is a simple integrated mobile platform that allows low to moderate income (LMI) families to manage their finances. This product solves issue of taking advantage of nonprofit and government asset building products like Lending circles which report back to FICO, Kindergarten 2 College or 529 College Savings Plans, Individual Development & Empowerment Accounts (IDEA) or Workforce Initiative Subsidy for Homeownership (WISH) matched savings programs, and cash advance programs like San Francisco PayDay Plus Loans, in conjunction with traditional financial products like checking and credit cards with this one mobile simple dashboard platform.
Benefits:
- Quick onboarding to asset building and financial products for LMI Families to help grow wealth, repair credit, and increase opportunities to college, homeownership, small business and increase access non-predatory capital
- Helps financial institutions meet CRA requirements
- Nonprofits & government agencies track metrics on asset building products, and grow standards of living for LMI workers & families
- Users have a real time dashboard of complete financial portfolio in the palm of your hand with all of their financial products they are participating
- Easy transferring of money between checking account and program accounts
- Removes barriers to entry for asset building financial products such as lengthy applications, in-person engagement and loss of interest
- Gives users more control, eliminates leaflets and paper applications cuts time wasters out, which is critical for increasing numbers of younger families taking advantage of these products
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