We believe the human context provides the necessary strategic guidance to navigate these extraordinary times. Let’s add some human context for the financial industry. You’ve all seen it. The corona crisis is putting a pressure on people’s wellbeing. The WHO expects depression to become the nr. 1 disease in society by 2030. It means people might not want to save all their money for their retirement but invest in a break early on. It means that saving for something immaterial like ‘peace-of-mind’ or ‘headspace’ might become more important than saving for material goods like a house, boat or new car. Being aware of the relation between financial wellbeing and mental wellbeing is a great starting point.
Some brands have already taken the next step. First Direct, a bank from the UK offers help and provides mental resilience to people with their ‘money wellness’ initiatives. Financial stress causes mental pressure, as such they share tips, tricks and offer 24/7 telephone assistance to people who need it. Interpolis, a Dutch insurance firm is positioning itself around mental wellbeing. They understand that a sound mind helps to live a meaningful live, and as such offers suggestions on how to manage your energy levels, work load, and basically balance your work-life relation. Do you want to be truly meaningful in times of crisis, then this trend offers some big opportunities.