An Australian company has created the SpendAble app to improve the financial independence of people with an intellectual disability.
The assistive technology app works by connecting to a digital wallet that can be allocated to various budgets for everyday outgoings. It gives people with an intellectual disability the freedom to spend their own money without having a third-party controlling funds, which usually tends to lack independence. The money management app creates a learning experience using visual cues to represent alternative banking activities by removing numeracy and budgeting elements.
The company is based in Adelaide but operates out of Victoria and South Australia and has about 600 NDIS currently using the alternative friendly money management app.
According to the latest white paper from Mastercard mentioned in Fintech Times, digital inclusion also requires financial inclusion for people with disability. This app helps to address the gap and potentially provide a safe and secure environment for purchasing goods and services.
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