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MoneySign assessment framework by 1 Finance receives patent; aiming to offer hyper-personalised financial planning
Catered to over 10,000 people in less than three months of timeframe
Presently accessible to everyone on the 1 Finance app
25th April 2023; India: 1 Finance, a cutting-edge personal finance institution, recently announced that it has been granted a patent for its revolutionary MoneySign™ assessment framework. MoneySign™ is a scientific framework that helps individuals understand their natural tendencies and traits when it comes to money, leading to personalised financial advisory that is tailored to their specific needs and goals.
In today's rapidly evolving financial ecosystem, most of the financial institutions and wealth managers are offering products and solutions that are fit for all, and this leaves individuals feeling overwhelmed and uncertain about their financial future as the financial situation varies for every individual. With the increasing complexity of financial instruments and the growing number of options available, there is a clear need for personalised financial guidance, and 1 Finance's patented MoneySign™ assessment framework aims to meet this need.
MoneySign™ has been developed with the assistance of psychological experts, which takes into consideration an individual's genetic inheritance and environmental factors. It helps individuals make more informed financial decisions by identifying their unique personality type. Based on behavioural finance, the concept examines how psychology influences financial decisions. It is the MoneySign™ system that identifies eight animal/bird/aquatic creatures, each representing a particular financial temperament and attitude, which is then associated with the individual, and therefore defines the solutions appropriate for that sign.
"The patent for the MoneySign™ assessment framework is a significant milestone for 1 Finance. We are committed to partner with our members on their journey to financial wellbeing that meet the evolving needs of our members and help them achieve financial wellness," said Jeet Marwadi, Founder of 1 Finance.
"We are thrilled to receive the patent for our MoneySign™ assessment framework. With this, we are providing the necessary hyper-personalised financial solutions to people and leading them towards financial wellness," added Keval Bhanushali, Co-Founder and CEO of 1 Finance.
The MoneySign™ assessment framework is currently available for free on the 1 Finance app. Since its launch in December 2022, the framework has successfully detected the signs of close to 10,000 affluent and emerging affluent individuals with a networth of 2.5cr+ financial exposure to over 20 lakh rupees.
1 Finance envisions further expansion of the MoneySign™ assessment framework in order to make it available to millions of people across the country. The company is committed to providing innovative financial solutions to its clients that meet their changing needs and enable them to achieve financial wellness.
About 1 Finance
1 Finance is here to reimagine the space of personal finance advisory in India. It offers advice that takes into account not just one's financial status and life goals but also the traits and behaviours in order to equip you with the ability to attain financial well-being. They're doing this by building an ecosystem that caters to the long-term well-being of the members and aligning the organisation's goals with the interests of all other stakeholders as well, which in turn triggers a shift towards transparency in the industry at large. The aim is to equip the consumer with the knowledge and tools to achieve financial independence and well-being.
1 Finance is based in Mumbai and is backed and mentored by marquee investor Marwadi Chandarana Group — a pioneering force in India's financial services sector that also powers successful operations in the fields of education and alternative energy. The Marwadi Chandarana Group also comprises Marwadi University, Marwadi Financial Services, Pixon, and Marwadi Chandarana Intermediaries Brokers Private Limited (MCIPL).
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