Financial Health

Technovation is a global technology and entrepreneurship education nonprofit with a mission to empower girls and their families to tackle real-world problems using cutting edge technologies, such as mobile and artificial intelligence. With a grant from MetLife Foundation, Technovation partnered with the Chile-based nonprofit Tecnología con nombre de Mujer to engage youth, parents, educators and mentors in science, technology, engineering and mathematics (STEM) entrepreneurship programs, reaching 550 girls.

Since 2019, MetLife Foundation has partnered with Generation to enhance the financial health of young people through skilling, training and employment, setting them on a path toward earning a steady income and improving their long-term financial health. In 2021, Generation enrolled more than 1,600 students from low-income families in workforce programs and in tech roles. As a result, Generation achieved a 92% graduation rate and 81% placement rate within 90 days—66% of students were women.

For the fourth consecutive year, MetLife Foundation supported Inclusion Plus Solution Lab, an accelerator for financial technology (fintech) social enterprises focused on building the financial health of low- and moderate-income South Korean families. In 2021, the lab supported 10 social enterprises with three months of mentorship, an opportunity to win $150,000 in scale-up grants, as well as to network with a group of 22 impact investors through a virtual deal share live day for follow-on investments. The cohort of entrepreneurs represented a diverse mix of solutions, including a service to waive housing deposits for young people, a platform for gig workers to find jobs and an insurance platform for seniors and disabled people.

FinnSalud is a three-and-a-half-year project launched in 2019 supported by MetLife Foundation and managed by BFA Global in Mexico. The program is developing a set of financial health standards and a measurement tool to shed light on the state of the financial health of Mexicans and to inform initiatives that can improve it. In 2021, FinnSalud developed a:

• Financial health index through a baseline survey of over 1,500 credit union members;
• Financial health score linked to the index;
• Recommendations engine linked to the score; and
• Digital tool to deploy financial health surveys.