Moolah

Moolah

Project Video Link: https://vimeo.com/698335047/0785e4e669

Inspiration

We brainstormed as a group to find a problem to solve. We found that with a number of students our age beginning to work and others coming into money from inheritance etc, we needed to be educated on how to use money. Most of our school work was focussed on business money, rather than your own.

What it does

Its a curriculum and licence that ensures that the 'minor' has the required knowledge to manage their money. It also allows them to map our a plan for their money into the future.

How we built it

We drew out the problem and solutions on a large whiteboard. Now we have the concept, we would need to partner with a developer to build it.

Challenges we ran into

Some students we surveyed, were not aware of their lack of skills in this area. Only when talked through the pitfalls of unrepaid loans, gambling etc did they acknowlegde they had a gap in knowledge. We looked to secondary sources for information the, such as age profile of majority of loan defaulters etc.

Accomplishments that we're proud of

Developing the concept to something that would work in the open market. Getting agreement with each other about how to proceed and features. Taking on the task at short notice and getting it finsihed.

What we learned

Its possible to design a business in a short time frame. Your just need to focus on a problem and make sure you have some advisors to help shape it with you

What's next for Moolah

We will look to partner with eductaion digital platforms to design the tool. Engage with Financial Advisors to design the curriculum. Partner with Finastra to place on FFDC. Try and get 1 bank to deploy our solution as a trial