Mission

Canny helps low income families avoid situations of financial crisis through the provision of exclusively discounted products and unbiased financial information.Our mission is to make more people in the UK be Canny. This translates to people increasing their levels of resilience, specifically to a deterioration in their financial health. We are also targeting behaviour change and specifically increased levels of money mentorship as measured by the adult financial capability framework.Our vision is a financially healtheir and happier world.

Category

Family Support

Additional Information

Canny helps low income families avoid situations of financial crisis through the provision of exclusively discounted products and unbiased financial information. It was estimated that there were 10 million people classified as being in ‘relative income poverty’ in the UK, and one third of the UK population were struggling to pay their household bills in January 2015. We live in an age where financial hardship is sadly, very much a reality. Canny is a social enterprise conceived to help those struggling families make smarter financial choices, in order to make the money that they have work harder. This will be achieved by providing access to discounted household products and, most importantly, practical information to help these people make more informed financial decisions. The Canny model is truly unique; it moves away from the traditional reactionary support model present today, to one that draws upon the benefits of tangential learning. Tangential learning has been associated with the development of video games and works by enabling learning through an environment which people positively associate with. In Canny's case we are using the positive attraction of discounted household items, which will act as an the initial incentive to engage. Once engaged, the consumer will then be able to access relevant, practical money saving information as a part of their purchasing journey. It is the timing and nature of this unbiased financial information that makes Canny truly unique, making it possible to make financial health improvement achievable and building long term resilience. Canny has been developed through the building of strong partnerships. Product and fulfillment will be managed by the UK’s largest online electrical retailer, AO World. Credit for products, if required by our customers, will be provided by the National Housing Federation through their MyHome finance product. On top of this Canny will also be working with local credit unions to offer further financial product options. The first one of which will be the East London Credit Union. Users will find out about the service through a network of referral support partners. These would include organisations such as: Local Authorities and Housing Associations.