Financial institution 1 Finance bags psychology patent for screening tool

New Delhi: 1 Finance, a financial institution focused on personal finance space in India, announced that they are the first financial institution in the country to acquire a psychology patent for their scientific assessment framework called MoneySign^TM.

The MoneySign^TM assessment framework has been developed with the help of global psychology experts and behavioural scientists to solve the age-old problem of investor risk appetite analysis.

The MoneySign^TM assessment framework uses the most extensive framework in psychology called The Big 5 or O-C-E-A-N model, to assess an individual's risk appetite.

"The MoneySign^TM assessment framework is a significant milestone for 1 Finance, and it will help the company to provide a holistic financial advisory service to its members. We are committed to partner with our members on their journey to financial wellbeing that meets the evolving needs of our members and help them achieve financial wellness," said Jeet Marwadi, Founder & MD at 1 Finance.

"We believe there are enough & more products to suit every customer’s needs, not just financial but emotional as well. There are thousands of tools that capture the financial aspect but no tool to factor on the critical emotional aspects. We are hopeful this will change the way financial planning is done here on," added Keval Bhanushali, Co-Founder & CEO at 1 Finance.

The MoneySign^TM assessment framework is currently available for free on the 1 Finance app. Since its launch in December 2022, the framework has successfully detected the sign of close to 10,000 affluent and emerging affluent individuals with a net worth of 2.5Cr+ or financial exposure of over 20 lakh rupees. The company has crossed the 1000Cr mark of value under advisory in its beta launch since Feb 2022.