Market Harborough Building Society launches financial education app with Doshi
Market Harborough Building Society (MHBS) has partnered with fintech start-up Doshi to launch a financial literacy app for its members in the UK.
MHBS launches financial education app with Doshi
Through the app, users can access tailored educational resources and lessons designed to “cultivate financial wellness and mindfulness”, according to a statement.
For every session completed, users are rewarded with points redeemable against a range of rewards available through an in-app marketplace, including gift cards for high-street brands.
Extra points can be earned through frequent logins, friend referrals, and ongoing engagement with games, missions, and exercises.
This rewards function sits alongside savings pots, goal tracking, and other customisable money management capabilities.
Citing a June 2024 survey produced by Opinium for Abrdn which found that 23 million adults in the UK currently exhibit low financial literacy, Iain Kirkpatrick, CEO at MHBS, says the app “empowers our community with the tools they need to manage their money better”.
The £720 million-asset building society has launched the new offering using a white-label app provided by London-based app developer Doshi.
Daniel Rose, CEO and co-founder of Doshi, tells FinTech Futures that “traditional methods like lectures or static materials fail to engage modern learners, especially in financial education”.
As such, Rose explains that the company’s gamification of financial education utilises microlearning sessions, rewards to keep learners engaged, and in-app challenges to improve user participation and retention.
“In our view, gamification transforms financial education into an engaging and rewarding experience, addressing the limitations of outdated approaches,” he continues.
Founded in 2021, Doshi currently powers financial education apps for over 15 financial organisations, including British bank TSB, which announced its partnership with the vendor last month to provide financial literacy tools to school children in the UK.
