1. ASEC Partners' Meeting Financially Fit DC April 2017

2. Presentation Outline About Financially Fit DC
FinFit DC’s Unique Approach
New Measures of Success
LifeCents for Financially fit DC
Q & A

3. Financially Fit DC
Mayor Muriel Bowser launched the Financially Fit DC initiative on January 9, 2017 with a focus on five core components:

4. A District Government Initiative
Financially Fit DC is Mayor Bowser’s Initiative conceived to encourage all District Residents to take control of their financial well-being, moving to make Washington, DC the most financially fit city in the nation. The Financially Fit DC model utilizes an interactive web platform that allows residents to develop personalized action plans to achieve their financial goals.

5. Public Private Partnership
FELA | LifeCents
A leading independent provider of financial education services and educational technology solutions. LifeCents is our proprietary web based financial health and wellness application.
Bank on DC, a DISB Program
Collaboration between the district, financial institutions and non-profits to provide education to un/underbanked households in the DC Metro Area.

6. A Partnership Seven Years Strong
April 2010
Bank on DC and FELA partner to launch first program to provide district residents access to LifeCents
Oct 3, 2012
Launch of LifeCents for VALOR Public/private partnership between the DC Office of Veterans Affairs and FELA
March 2014
Launch of LifeCents for DC StreetCar
April 2015
Launch of LifeCents for MBSYEP
January, 2016
Launch of standardized Financial Health Assessment (FHA)
March 2016:
Launch of LifeCents for DOES Project Empowerment
April 2016
Launch of the FHA in LifeCents for MBSYEP
January, 2017

7. What makes Financially Fit DC Unique?
Defines personal financial health
Provides personalized wellness plans
Integrate DC public services and community programs
Provides access to real-time program data on performance and progress
Responds to participants’ needs, interests and goals
Uses new measures of success in improving consumer financial health
Defining financial health for participants
Providing participants with personalized wellness plans
Integrating DC public services and community programs
Accessing real-time program data on performance and progress
Responding to participants’ needs, interests and goals
New measures of success in improving consumer financial health

8. Financial Health Defined…Finally
Consumers do not know intuitively what good “financial health” is. LifeCents provides a much needed perspective and raises awareness of this concept – often for the first time.

9. Measuring Financial Health
Each participant gets a personalized assessment of their financial health across three key dimensions:
Financial IQ
Financial Habits
Financial Mindset

10. Personalized Wellness Plans
Actionable Results & Access to Help
Personalized action plan and roadmap
Show measurable steps needed to achieve good financial health.
Access to “CONNECTIONS”
Coaches & Advisors
Partners
Programs
Services
Other Resources
Actionable Results & Access to Help
Each participant gets a personalized action plan and roadmap to help them achieve their personal financial goals and to show measurable steps needed to achieve good financial health. Included in this process is access to “CONNECTIONS” such as coaches, advisors, and other resources based on the user’s profile.

11. Partner Integration
Financially Fit DC is a one-stop shop to access information about DC programs and services as connections and resources for users.

12. Access to Data, Data, Data
DC can easily monitor – in real time – the activity and performance of the program through the LifeCents reporting portal.

13. Visibility into Program Performance
LifeCents provides real time analytics and insights on program outcomes.

14. Ongoing User Engagement
“Nudges” ( s) are used to deliver targeted messages and communications to participants
Personalized and relevant messages reinforce experiences and content
LifeCents delivers personalized messages to each participant to reinforce their experiences and content in LifeCents. These “NUDGES” are also used by partners to deliver highly targeted messages and communications.

15. New Approaches to Measure Success
In addition to traditional long-term outcomes such as increased savings and reductions in consumer debt, Financially Fit DC recognizes other measures of user progress and achievement.
Engagement
Consumer Awareness
Connections Made
Partner Outcomes
Milestone Based Achievements

16. LifeCents for Financially Fit DC

17. User Engagement Drives Outcomes
LifeCents delivers a personalized and engaging user experience that drive high levels of participation – making positive, measurable outcomes possible.

18. Interactive, Personalized Experiences
LifeCents lets each participant “tell their story” about their relationship with money. Every interaction contributes to building an even more robust profile.

19. Improving Personal Awareness
Each participant builds their personalized financial wellness plan over time, but only after they’ve learned why each step is important.
The more they participate, the more robust their profile, and the more personalized their experience will be over time.

20. Connecting with Partners
71%
Of all users connected with this partner
Embedded access to DC's partners, programs and services to create a unified access point for participants. This approach build capacity for all stakeholders.

21. Partnership Outcomes 48% 44%
Achieve programmatic outcomes like opening a bank account through partners like Bank on DC.
Completed the Financial Health Assessment
48%
Of those users connected with a local bank account
44%

22. Milestone Based Achievements
Use of milestone-based achievements – not just time based progress - to reward small steps and encourage users to take action.

23. Using Data to Drive Outcomes
Data and analytics from Financially Fit DC allow stakeholders to:
Build on engagement by responding to targeted sub-sets of district residents
Customize the services and education based on an individual’s needs, interests and goals

24. How YOU Can Benefit from Technology
DELIVER OUTCOMES
STRENGTHEN RELATIONSHIPS
ENCOURAGE INDEPENDENCE
MAKE AN IMPACT
BUILD CAPACITY
IMPROVE YOUR EFFICIENCY
Deliver Outcomes
Deliver measurable and personalized financial health outcomes for everyone with whom you work
Encourage Independence
Empower people to work independently to improve their financial capability
Build Capacity
Extend your reach to not only serve those you coach, but also their family members and others in your community
Strengthen Relationships
Engage people in new and exciting ways to build stronger relationships than ever
Make an Impact
Connect more people to your services to make a real impact in your community
Improve Your Efficiency
Automate your workflow(s) to work smarter – not harder

25. Get Involved DC Residents Learn more at welcome.financiallyfitdc.com
Sign up at
Program Providers
Incorporate education available in Financially Fit DC into your existing program
Invite DISB and Bank on DC to present with your organization
Partner with us to develop a similar program in your city or community

26. For More Information
Blake Allison CEO & President FELA | LifeCents P: E:
Michelle Hammonds
Bank on DC Program
DC Department of Insurance,
Securities and Banking P: E: