Financial Abuse Translator: A free of cost tool to help shed light on financial abuse
An initiative by Indian neobank Fi in partnership with Majlis, an NGO that works in the women and child development sector.
New Delhi (India), March 10: According to the Supreme Court of India, economic abuse is punishable by law under the Domestic Violence act. The problem is that most women don’t know what economic abuse is and don’t realize that they can take legal action. In a patriarchal culture where women have the primary role of a caregiver and the male members have the primary role of managing the finances, it is normal for the man of the house to have control over money and financial decisions. Which makes it all the more difficult for someone to identify or realize that economic abuse is a real problem.
Bengaluru based money app, Fi partnered with Majlis, a non-profit organization with a mission for the protection and promotion of women and children’s rights through legal representation, advocacy and training. They hacked Instagram’s translation feature on stories to launch the Love Language Translator. After curating and sourcing 100s of stories they put real stories together in a fictional setting to showcase how women have been conditioned to think that these are normal instances in relationships. The campaign rolled out on women’s day and has seen incredible traction.
You can read real stories of financial abuse and translate them real time with the love language translator.
Fi has even integrated this in-app with their AI powered bot where users can ask specific queries like ‘What is financial abuse, What can I do if I’m in a financially abusive relationship?’ and put together resources with Majlis to help users out. All this in a first and very powerful move by a fintech app to do more for women and financial literacy.
Fi.money is a money app created for working professionals. Fi’s innovation lies in creating an interactive, personalised, and transparent financial platform that covers banking, investing, credit and money management.
As an integrated financial services platform, Fi’s users gain access to a new-age Savings Account, an investment platform and money management tools with features that help users know their money, grow their money and organise their funds. Millennials and GenZ have higher disposable income and a greater incentive to spend than save. The Fi app, therefore, takes on a one-of-a-kind approach, rewarding users for saving money and not just spending.
Founded in 2019, the fintech company is funded by Sequoia India, Temasek, GIC, Alpha Wave Global, Ribbit Capital and B Capital Group. Fi is the brainchild of ex-Googlers who pioneered GPay, Sujith Narayanan and Sumit Gwalani. Their team of experts – from Google, Netflix, PayPal, and others – distill decades of tech & banking wisdom into Fi. All of them want to change the way people perceive and interact with their money forever.
Campaign Team: Minhaz Fatima, Atharva Gupte, Aashna Gandotra, Anandhi Kumar, Arjun Vijayakumar, Riya Cherada
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