What is the name of your organization?
MoneyGuard Service Inc.
What is the name of your solution?
MoneyGuard
Provide a one-line summary or tagline for your solution.
Mobile platform helping individuals easily create legally enforceable financial agreements and prevent disputes over money transactions.
In what city, town, or region is your solution team headquartered?
Seongnam, Gyeonggi Province, South Korea
In what country is your solution team headquartered?
Korea, Rep.
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
Many individuals engage in informal financial transactions—such as personal loans—without formal agreements. Globally, billions of dollars are exchanged informally each year, especially among young adults and freelancers. In the United States, approximately 45% of adults have loaned money to friends or family, yet 37% of these transactions lead to disputes or strained relationships (Bankrate, 2023). The problem is exacerbated by the high cost and complexity of accessing legal services: the average hourly rate for a lawyer in the U.S. exceeds $300.
Without clear documentation, individuals face difficulties recovering money, increased legal risks, and damaged trust. This issue is particularly severe in underserved communities with limited access to affordable legal support. Globally, informal lending is even more prevalent in emerging markets, where access to formal financial institutions is limited.
MoneyGuard addresses this gap by offering an easy-to-use mobile platform for creating legally enforceable financial agreements. By lowering the barrier to documentation and legal protection, we aim to reduce personal financial disputes, improve trust, and promote financial security for millions globally.
What is your solution?
MoneyGuard is a mobile platform that enables individuals to create, sign, and store legally enforceable IOUs (informal loan agreements) easily and securely. Users can record money transactions with just a few taps, using templates that guide them through necessary legal terms. Once created, agreements are digitally signed and stored securely.
To ensure trust and integrity, MoneyGuard integrates blockchain technology. Each contract’s key information is indexed on the blockchain, making the record tamper-proof and verifiable. We also use encryption and mobile authentication (e.g., via PASS API) to protect user identity and data.
By lowering the barriers to formalizing financial agreements, MoneyGuard makes it easy for individuals—especially those without legal expertise or financial resources—to protect their money and relationships. Our solution is currently available as a mobile app, and we are developing a web-based version for broader global access.
Who does your solution serve, and in what ways will the solution impact their lives?
MoneyGuard serves individuals who engage in informal financial transactions, particularly young adults, freelancers, and small business owners. These groups often lend or borrow money without formal contracts, leading to high risks of disputes and financial loss. They are underserved because traditional legal services are expensive, complex, and inaccessible for small-scale transactions.
In the United States alone, millions of people experience tension or relationship breakdowns due to informal lending. Marginalized communities face even greater barriers to accessing affordable legal protection.
MoneyGuard empowers these individuals by offering an easy-to-use, low-cost tool to create legally enforceable agreements. By documenting transactions securely and transparently, users can protect their money, maintain trust in their personal and professional relationships, and avoid costly legal battles. In the long term, MoneyGuard aims to promote financial inclusion, stability, and empowerment among underserved individuals globally.
