Juntos Mentioned in Forbes
November 9, 2015
In an article released this weekend entitled “Why The Financial Industry is Getting Nicer,” Arjuna Costa, an Omidyar partner who has a board role at Juntos, speaks to Dan Simon at Forbes about the intersection of finance and philanthropy.
When asked how to improve financial literacy, Costa calls attention to Juntos’ model. He notes, “There is extensive body of research proving that traditional, one-size-fits-all, classroom-based financial literacy is not effective in changing consumer behavior. Changing behavior and building real financial capability requires first and foremost a deep understanding of consumers’ preferences and habits. Once equipped with this information, we can then layer on a combination of simple ‘rules of thumb’ that nudges behavior change in a more positive direction. For real effectiveness, these nudges should preferably come at the point of usage of a financial product or service, turning these into ‘teachable moments.’ This type of capability building can be really powerful when applied to consumer retention or engagement. A good example is a company called Juntos.”
You can find the full text of the conversation here.