Binge-watching and wealth creation can now tango

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In 2019, the National Centre for Financial Education (NCFE) conducted a survey that revealed only about 27% population was financially literate in India. While the importance of financial inclusion has been amplified time and again, little has been practically done to melt down the complicated, often intimidating, jargons of financial literacy. Most people refrain from learning about finance and thereby aren’t able to make well-informed financial decisions on their own. They generally tend to turn to an outsider for help when it comes to this subject.

This is primarily because of two reasons, one, finance isn’t an easy-to-understand subject and, secondly because people just don’t find it interesting enough to devote their time and attention to learn it.

Marrying concepts

Looking to take on the challenge of simplifying the concepts of personal finance to a generation that only understands OTT language, MoneyFlix (a venture of Sharekhan by BNP Paribas), a first-of-its-kind financial movies platform, is trying to master the art of explaining finances through storytelling.

“While conceptualising the platform, we realised and understood that the whole process of learning has three parts to it. One is the actual content itself, second is how and in what form is that content delivered, and the third is what can be done to ensure the content is retained better by the user. We, at MoneyFlix, have made sure that we solve all the three parts of this puzzle to the best of our abilities,” said Rahul Ghose, head of MoneyFlix.

MoneyFlix caters to all things associated with finance. The platform has financial movies that talk about credit score, retirement, wills and credit cards. It also has large volumes of content on financial markets, different investment avenue, stocks related and technical analysis.

Catering to absolute beginners

MoneyFlix was launched during the pandemic last year. In just over 10 months of the launch of the platform, it garnered over 1,50,000 app downloads and more than 22,000 users actively visiting the portal.

“We have a free section where learners can watch a wide range of short films ranging from 5 to 10 minutes in duration. We add 2-3 short films every week in this section. We also have an entire premium movies’ section, which has full-length movies ranging from 30 to 90 minutes. These are broken into smaller episodes of 10 to 20 minutes each. All the financial content irrespective of the duration is broken down to its basics,” Ghose explained.

In case you are beginning your investment journey, MoneyFlix has movies on ‘Scanning of Stocks’ or ‘How to use the RSI or Stochastic indicators’ to help you demystify jargons.

Each episode on the website is part of a full-blown financial movie with a complete story, live actors and support cast. Storyboard and animation are used to explain these tough jargons. With the help of structural designers, it is made sure that the content flows in chronological order thus making it easier for a newbie to grasp.

Demystifying jargons

To keep up with people who constantly visit the portal every day, the company has come up with something known as ‘MoneyFlix bytes’ which is a series of quick explainers on any topic or sub topic related to personal finance.

“This allowed us to also churn out multiple movies or content pieces every week. The whole ‘work from home’ routine also led to our content being consumed in large volumes in my opinion,” Ghose asserted.

Breaking down complicated financial jargons into a simple ‘snackable’ format has definitely removed several roadblocks on the road to greater financial inclusion. If you want to take a deep dive into the world of personal finances, MoneyFlix can be a good option to start the journey.