The Financial Capability Lab was a multi-year £2.5m programme – the biggest of its kind – that ran from 2016 to 2022 to design and test new ways to help people better manage their money.
The Lab, which was a partnership between the Money and Pensions Service and the Behavioural Insights Team, focused on three themes: help people build savings, get financial help, and manage their credit.
Over the course of its duration the Lab:
- Generated 244 novel ideas on improving financial capability with the help of 90 experts
- Tested the most promising 17 ideas through online experiments with more than 10,000 participants
- Further developed and rigorously tested a more targeted set of ideas with a dozen companies and 130,000 participants
- Created valuable new evidence on how to improve people’s financial capability
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Meet the team
Managing Director, BIT UK
Director, Economic Policy
Head of Household Finance
Qualitative Research Advisor, Local Places & Communities
Dr Sujatha Krishnan-Barman
Head of Employment, Organisational Behaviour and Financial Behaviour (parental leave cover)