According to Michael Kent, CEO of Azimo, a recent survey says 77 percent of UK residents are stressed about money; Kent explains to Forbes, “The social and economic cost of stress is huge. More than half a million workers suffered from stress in the UK in 2016/17, resulting in the loss of 12.5 million working days and a cost to the economy of around £40bn.”; Azimo and other fintech startups are trying to design products that can help to address some of the issues around mental health and finance; the Money and Mental Health Policy Institute’s Fintech for Good report explains how fintech can support people suffering from mental health issues and provide them with an experience that suits their lives; traditional firms have long ignored this issue, though they are also beginning to change, which has allowed fintech firms to step in and provide better products with more thoughtfulness. Source.
