Financial Institution 1 Finance Bags Psychology Patent For Screening Tool
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Financial institution, 1 Finance has secured a psychology patent for its scientific assessment framework called MoneySign.
The MoneySign assessment framework, for which the financial institution has won the psychology patent has been developed with the help of global psychology experts and behavioural scientists to solve the age-old problem of investor risk appetite analysis.
The MoneySign assessment framework 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.
TheMoneySign assessment framework which is now protected by a psychology patent is currently available for free on the 1 Finance app.
Since its launch in December 2022, the framework has detected the sign of close to 10,000 affluent and emerging affluent individuals with a net worth of over Rs 2.5 crore or financial exposure of over Rs 20 lakh.
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