‘With Moneyed, we want to give everyone access to the tools they need to feel in control of their financial future.’

Gympass recently expanded beyond offering fitness and physical activity access. Our digital offering now gives employees support in every element of their health and wellbeing, including financial support.  Moneyed, our new Wellness partner, gives users the opportunity to take control of their financial future. We spoke with CEO, Sam Short, to find out more about how Moneyed can support employee wellbeing.

Hi Sam, tell us a little about yourself.

I’m Sam Short and I’m the CEO of Moneyed. My background is in both business and data science; before co-founding Moneyed I worked as a Lead Data Scientist at Boston Consulting Group (BCG), where I helped some of the world’s biggest companies solve their business problems by leveraging data and tech. My academic background is in Particle Physics – I have a PhD from Imperial College London.

Tell us about your Co-Founder.

My Co-Founder and Moneyed CTO, Phil Jones, has a background in finance and tech – before co-founding Moneyed he worked at a wealth management and financial advisory firm. Phil’s academic background is also in Particle Physics – he has a Ph.D. from the University of Oxford. We met whilst conducting research both inside a university in London and underground in a mine in Canada and Japan.

So, what is Moneyed?

Moneyed is an app that empowers people to take control of their financial future. 

Users can build a personalised financial plan to meet important life goals (buying a house, planning a wedding, starting a family, round-the-world trips, retiring) and easily track progress, by aggregating and displaying all finances in one place (current accounts, savings, pensions, investments, property, mortgages). Users can easily action a plan to help them achieve future goals. 

Why did you start Moneyed?

Phil and I reached “trigger points” in our lives – Phil was considering buying a house and I had just been enrolled into a workplace pension – and we realised there were no tools that would help us to plan for our financial future. The options available to us were poor, they were too short term (budgeting apps) or expensive (financial advisors) or impersonal (workplace workshops and seminars). Our only option was to do-it-ourselves. So we did. 

What motivates you?

Phil and I believe that the greatest personal issue our generation will face, in light of living through the second “once in a lifetime” financial crash, will be a direct result of poor financial management. We feel our generation is sleepwalking into our financial future and the only tools that could help give us clarity are locked away with expensive financial advisors. With Moneyed, we want to give everyone access to the tools they need to feel in control of their financial future.

How does Moneyed work?

Moneyed is built privacy and security first. All data is encrypted, with the same sophistication and methods banks use, and securely stored in the UK. We don’t share or sell data. We have no ads, no ad trackers, and no social media trackers. We make money via subscriptions alone.

At Moneyed, we leverage sophisticated statistical techniques and artificial intelligence to project an individual’s finances into the future, enabling them to make a detailed financial plan. We also use official data from the Office for National Statistics, combined with informative content from the UK’s Money Advice Service, and machine learning techniques, to give unique educational insights and social validation.

Why should employers provide access to Moneyed for their employees?

A recent study found that 49% of employees want more support from their employer to improve their financial health. Furthermore, it is known that worrying about finances results in productivity and retention issues at work, costing the equivalent of 13-17% in payroll costs alone. Moneyed is available in the App and Play stores, and can be accessed in the browser; it is an inexpensive and accessible solution to ensure employee wellbeing, both inside and out of the workplace.

If you are interested in offering Gympass to your employees, get in touch today.