How can technology help us manage our money better, with Nina Mohanty

As the pandemic continues to impact personal finances across the world, research shows that women and minority groups are being disproportionately affected. That's why it's increasingly important that financial products, such as bank accounts, savings products and financial advice, are accessible and inclusive for everyone.

The FCA estimates that in the UK, 1.3 million adults don’t have access to a bank account. Can technology, and the rise of online banks like Starling or Monzo, help make personal finance more inclusive and empower customers to take control of their money?

My guest today is Nina Mohanty - a financial technology expert - who has had an incredible career in the financial tech industry, working with some of the biggest startups that have transformed the way we manage our money.

Nina is an advocate for financial inclusion, working on products that champion inclusion and help users build financial resilience, allowing them to be more prepared for life’s unexpected events as well as it's opportunities. Today, Nina shares with us her personal, and professional financial journey. We talk about how the fintech industry evolved and what happens at the crossroad of financial services and technology and how fintech can empower people to make better financial decisions. Nina is very honest about her own financial journey (she’s all about transparency!), tells us how she got into debt, and gives us her top apps and tools that have aided her to spend, save and to get started investing.

You can follow and connect with Nina at:

• Twitter: www.twitter.com/ninamohanty
• Instagram:@nina.mohanty

Nina shared some great resources in this episode. All the links are below:

• Chip: www.getchip.uk
• Pension Bee: www.pensionbee.com
• Monzo: www.monzo.com
• Starling: www.starlingbank.com
• Wealthify: www.wealthify.com
• Nutmeg: www.nutmeg.com
• WealthSimple: www.wealthsimple.com
• MoneyBox: www.moneyboxapp.com
• MoneyFarm: www.moneyfarm.com
• Patricia Bright’s budgeting tips: https://www.youtube.com/watch?v=CC5dXZYTO1A
• ElleVest in the US: https://www.ellevest.com/
• Instagram-hyped fintech Lanistar not authorised, warns FCA: https://www.ft.com/content/31597fd6-4794-4634-8991-bd373b7d8a18
• Investment protection by the FSCS: https://www.fscs.org.uk/what-we-cover/investments/

*Remember: the value of investments can go down as well as up so you may get back less than you invest. Always do your own research - and note that what we discussed in the podcast is not a personal recommendation for any particular investment.*

You can learn more about Vestpod and subscribe to our newsletter here: https://www.vestpod.com. You can follow us on Instagram @vestpod and join our Facebook group. My book is available to purchase from Amazon and your favourite bookshop.

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice. You are advised to consult with an independent financial advisor for advice on your specific circumstances.*

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