Mumbai, September 18, 2024: 1 Finance, a financial services institution focused on the personal finance space in India, recently acquired the US psychology patent for their scientific assessment framework, MoneySign®. 1 Finance is the only financial institution to receive the patent for India and the US both for its framework.

The MoneySign® assessment framework has been developed with the help of global psychology experts and behavioural scientists to solve the age-old problem of investor risk appetite analysis. It uses the most extensive framework in psychology called The Big 5 or O-C-E-A-N model, to assess an individual’s risk appetite. The team of financial experts at 1 Finance qualified and related the significance of different traits and biases to individual financial behaviour. This was then modelled across different animal archetypes with the closest human DNA level match from Darwin’s theory of evolution to assign specific MoneySign® to individuals.

Expressing his gratitude upon receiving the US patent, Mr. Keval Bhanushali, Co-founder and CEO at 1 Finance said, “Understanding what our customers need and providing them with a holistic financial solution and not just investment ideas has been our key priority at 1 Finance. MoneySign®has played a vital role in this and been a testament in understanding the crucial emotional aspects of an individual for effective financial planning. So far in India, we have accomplished trusted psychological ecosystem for our valued customers and intend to reach a wider group of individuals globally with the grant received in the United States.”

Sharing his contentment regarding the patent received, Mr. Animesh Hardia, SVP, Quantitative Research at 1 Finance expressed, “At 1 Finance, we’ve always believed that understanding human psychology is the key to effective financial planning. Seeing the profound impact our approach has had on the lives of our customers in India has been incredibly rewarding and has only strengthened our resolve. Our patent grant in the United States for the MoneySign® assessment is a testament to the hard work and dedication of our team, who have poured their expertise in financial research and behavioural psychology into creating a truly personalized financial planning solution. Our mission now is to bring the power of MoneySign® to people across the globe, empowering them to make financial decisions that align with their unique strengths, challenges, and aspirations.”

The MoneySign® assessment framework is available for free on the 1 Finance app. Since its launch in December 2022, approximately 100K users have completed MoneySign® assessment on the 1 Finance app. The company recently crossed 1 billion dollars of AUA with average net worth of 2.5 crore per RIA customer.