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Moneyworld is trying something different in a financial system that has been the same for decades. We’re building a world where saving money is more engaging, approachable, and dare we say, even a bit fun!
Society simply doesn’t make it easy to build savings.
Money is always tight for most Americans and even the prospect of beginning to save is scary for millions who feel like they’re already behind, that they’re in this alone, and that the financial system is too complicated – and with too many hidden fees.
At Moneyworld, we’re here to change all of that! We’re building a completely different money app that puts power back in the hands of regular people and makes it easy to Just. Get. Started.
— Greg Smith, Founder & CEO of Moneyworld
Moneyworld is an app that helps people save money by gamifying the experience to make it more fun — plus rewards savers for setting aside money consistently.
The app is a virtual piggy bank enriched with a mobile game twist.
Savers open an account within the app, securely depositing funds into a deposit account at Lewis & Clark Bank, Member FDIC*. Then, savers set up automated deposits to kickstart their saving journey.
But what sets Moneyworld apart from a traditional money app is the way savers can earn extra money towards their goals. Instead of receiving an APY, Moneyworld tasks savers with collecting coins each day that convert to cash after every 4-week saving streak.
Moneyworld adds fun and social elements to an otherwise mundane activity like saving — with leaderboards, live trivia events, and the daily coin quest.
Moneyworld was founded by Greg Smith, a former banker and New York Times bestselling author who in 2012 wrote an Op-Ed article and book talking about how Wall Street sometimes put short term profits above the best interests of clients and the broader stability of the financial system in the run up to the financial crisis.
Greg’s Op-Ed was read by 3 million people and his book talking about his ten year career and how the financial industry needs to focus more on fiduciary duty and doing right by clients was translated into 8 languages and became a New York Times bestseller.
Greg Smith’s “60 Minutes” Interview with Anderson Cooper.
SOURCE: CBS News
Since 2012, Greg has been on a mission to think of ways to make the financial system more accessible and fair for consumers; he was one of many who helped advise regulators and legislators during the formation of the Dodd Frank act, and has subsequently worked at two fiduciary robo-advisors helping Americans with their savings and investments.
In creating Moneyworld, Greg and the Moneyworld team wanted to build something that made the basic act of setting some money aside less scary, more communal, and more accessible for tens of millions of Americans who struggle to save.
“Our vision is that if we can get millions of people supporting each other in their saving journey – being each other’s cheerleaders in the hard act of setting money aside – that we will gain strength in numbers.
And with millions of people saving TOGETHER we’ll be able to get much better outcomes from the financial system.”
— Greg Smith, Founder & CEO of Moneyworld
Get Moneyworld on iOS or Android