How financial technology can support people with mental health problems.
Katie Evans, Head of Policy and Research, Rose Acton, former Policy and Research Officer
Fintech for good
18 July 2017
People with mental health problems are three times as likely to be in financial difficulty. As well as affecting our income, mental health problems can make it harder to manage money, control spending and stay on top of bills and financial management. “Fintech” – new tools, settings and processes made possible by technological innovation in financial services – offer the opportunity to break this cycle, by supporting financial management during periods of poor mental health, reducing stress and worry, and lowering the incidence of financial difficulty. This report explores fintech and mental health, and the opportunity, the challenge and the risks of the use of financial technology and how it can support people. It also maps the current tools available in the market and what more can be done to speed up the development and distribution of these tools and settings.