Money Alive is five! 🎂

New features
4m read
Jan 2023
Aaron Coates
Chief Product Officer

Find out what we’ve accomplished in our first five years and where we’re heading next.

When we launched Money Alive back in January 2018 we did it with a specific objective in mind: 

“Better information leads to better decisions, which in turn lead to better outcomes.”

We started with our video platform and a single box set. The box set covered the thorny subject of defined benefit pension transfers. It’s become widely used by financial advisers to successfully educate their clients on this challenging topic.

So what else have we been working on?

Our platform reach and capabilities have expanded dramatically over the last five years. Here’s a quick summary of the last 60 months!

Our video library has expanded from a single box set to thirteen, and we have more planned. Comprising over eighty individual videos, they are all written in plain English by professionals, checked and double-checked, and accredited where necessary.

Our technology has developed into a RegTech platform with powerful features such as batch CSV reporting, workflow builders, and sublicensing options.  

Our customer base has grown at a similar rate. We now support the needs of small, medium, and large advisory clients. This includes several household names we might add!

Because of the consistent updates that we’ve made to the platform over the years, our video players offer the best possible user experiences in a video app. We support a broad variety of devices, and our experiences are responsive to the input of the user, adapting the video selection to meet their circumstances. 

Our consumer reach has resulted in more than 350 thousand video streams, all of which have provided useful evidence of engagement for our clients and have, without a doubt, resulted in improved outcomes for the individuals.

It is also clear that we have had an impact on the sector. We've been shortlisted for and won a number of awards, including winning the highly coveted Best Technology award from Professional Adviser in 2021.

Our second product, Video Canvas, launched in May 2022 and is now being used by pension administrators, financial advisers, actuaries and pension schemes to give personalised and interactive video experiences to their clients. It’s pretty cool and unique - you should check it out. 

Awards and customers are all excellent, but perhaps the thing we’re most proud of are the fantastic engagement levels we continuously achieve with our end users and the feedback they’ve given us:

  1. 97.9% of viewers value being given access to Money Alive and 91% said using it had helped with their decision making. This information is not based on a small sample; rather, it comes from more than 13,000 viewers!
  2. Making the video experience interactive and delivering the video in small concise chapters is the best combination to keep viewers engaged. 
  3. The brand does matter; having Money Alive provide the videos increases trust in the content because Money Alive is perceived as a knowledgeable and impartial third party. 
  4. Viewers will complete up to (and over!) an hour of educational material if the production quality is high, and the content is presented in plain English.
  5. The viewer onboarding experience is key - we replaced a registration and password system with a simple access code to access the experiences, and the onboarding rate rose substantially.

What does the future have in store for us?

To support the new Consumer Duty regulations, the Money Alive solution will continue to broaden the video content available in its library. We've recently added personal protection, and we'll keep working with leaders in the industry to come up with new content and roll out integrated, all-in-one solutions.

Video Canvas is now following an ambitious development path, much like Money Alive did in its earlier days. New hosting options, interactive features, and the possibility that we will even licence the authoring tools to other businesses so that they can create their own Video Canvases are all coming soon.

Keep an eye on this space to see what the next five years hold for us!

See also