TrueLink Financial

PRODUCT

TrueLink Financial

Vulnerable seniors, people with special needs, and those recovering from addiction – fifty million Americans in total – need more from their financial institutions. Whether it’s protecting seniors from fraud, helping people with special needs preserve lifesaving medical benefits, or preventing an impulsive cash withdrawal or purchase that could lead to relapse, families turn to True Link when they need a financial partner who can help them navigate life’s challenges. True Link partners with individuals, families, and organizations that serve treatment programs, elder law attorneys, home care providers, nonprofits, and government programs in all 50 states.

How TrueLink Financial changes Savings & Financial Behaviors behaviors

Automation

TACTICS

Automation

Automation refers to having another person, group, or technology system perform part or all of the intended behavior. A prominent example is Thaler & Bernartzi's Save More Tomorrow intervention, which invested a portion of employees' earnings into retirement funds automatically and even increased the contribution level to scale with pay raises. Other examples include automatically scheduling medical appointments so the patient needn't do it themselves and mailing healthy recipe ingredients to the person's home to reduce the burden of shopping.‍

Smart Defaults

TACTICS

Smart Defaults

Defaults refer to what happens if a person makes no choice or goes with a pre-selected choice. The influence of defaults is a foundational component of behavioral economics. Perhaps the most famous example of defaults is the difference between opt-in and opt-out organ donation programs. While not universal, several studies have found that the rate of organ donation consent in a population seems to be influenced by the default (i.e., what happens if a person does not check a box or change the pre-selected preference on a form). Smart defaults do not only refer to one-off events, however. In the well-known Save More Tomorrow program, participants were not only included in a savings program by default, but the amount they saved was also changed over time automatically (again by default). Similarly, other behavior change programs have default settings that include at-home medication or food delivery, rules-based reminders on different platforms, etc.

Environmental Restructuring

TACTICS

Environmental Restructuring

Environmental restructuring refers to modifying the physical environment around someone in order to influence their behavior.On the less intensive end, this could be as simple as having someone leave a pill bottle in a more obvious location or switch to using a pillbox with compartments for each day. More complex examples include carpooling potential voters to election sites to improve turnout, redesigning a workplace cafeteria layout to bias toward healthier foods, or setting up booths for influenze vaccination in offices or shopping malls.

TrueLink Financial changes these Savings & Financial Behaviors behaviors

SavingsFinancial Behaviors