What is the name of your organization?
Native Finance Development Corporation
What is the name of your solution?
Native Finance
Provide a one-line summary or tagline for your solution.
Empowering Native youth with financial literacy and language preservation through a culturally relevant, gamified mobile app.
In what city, town, or region is your solution team headquartered?
Vista, CA, USA
In what country is your solution team headquartered?
USA
What type of organization is your solution team?
Nonprofit
Film your elevator pitch.
What specific problem are you solving?
Native communities in San Diego County, and across the nation, face challenges that perpetuate financial exclusion and limit economic opportunities due to 4 interconnected factors:
1. Alarming Financial Illiteracy: A staggering 87% (40,000 ± 5,000) of Native American high school students failed a financial literacy test, according to a 2007 FINRA Foundation study. Our 2024 research on 7 Indian reservations confirms that a lack of financial knowledge has hindered informed decision-making and economic well-being (e.g., lack of budget skills led to tax debts and loan defaults).
2. Paucity of Culturally Concordant Financial Education: Though low-cost, Native-centric financial literacy (FinLit) training materials exist, most tribes do not have the expertise to lead the classes. Ongoing systemic discrimination have fostered a deep-seated distrust of mainstream financial systems. This reluctance in the community leads to additional resistance to engage with conventional banking and financial system to use products for building networth.
3. Historical Trauma: Forced relocation and assimilation (English language, boarding schools) have eroded self-identity and caused cultural disconnection.
4. Digital Divide and Lack of Infrastructure: Limited broadband access on reservations cuts off communities from online banking, educational resources, and the potential benefits of technology-driven financial solutions. This lack of connectivity perpetuates financial isolation and limits opportunities to address financial literacy gaps.
What is your solution?
Our solution is a user-friendly financial education app designed specifically for Native American youth (age 7-24). It is low-bandwidth, able to reach areas with poor internet connectivity. The app teaches essential money management skills, ensuring that all youth, regardless of disparities in financial resources (e.g. income from gaming, oil & gas, or none), have access to this critical knowledge, thus promoting economic self-determination & reducing vulnerability to financial exploitation (costs >400% APR for check cashing and payday loans).
Here's how it works:
• Interactive financial lessons with games and storytelling tailored to the user's unique Native American language, history, cultures, beliefs, & customs.
• Prompts that encourage young users to interview tribal Elders and Knowledge Holders about words & phrases used for financial concepts. This intergenerational approach not only teaches financial literacy but also promotes the use of Native languages by incorporating culturally relevant words & phrases. It also ensures that traditional wisdom is integrated into modern financial concepts.
• Combines modern technology with traditional knowledge, the app makes learning engaging and effective.
• Adaptability for classrooms, in-person or online with a trained teacher.
• Contents include acknowledging historical trauma, concepts regarding and practice with budgeting, saving, investing and goal setting, building positive financial identity.
Who does your solution serve, and in what ways will the solution impact their lives?
Our solution serves Native American youth aged 7-24, primarily in U.S. tribal communities, where >200,000 live, often in rural, underserved areas. These youth face financial illiteracy, with 79% lacking basic money management skills, and cultural disconnection, as only 1% of Native languages remain actively spoken (Ethnologue). Limited access to culturally relevant education exacerbates poverty (25.4% of Natives live below the poverty line) and high dropout rates (36%). Our mobile app delivers gamified lessons blending financial literacy and Native language word and phrases, co-designed with tribal educators to reflect cultural values. It fosters financial independence through skills like budgeting and strengthens cultural identity by preserving languages and knowledge. Accessible offline, it reaches remote communities. Pilot data shows >85% engagement, with users reporting increased confidence in financial decisions and cultural pride. By empowering youth with practical and cultural tools, the app enhances economic resilience and preserves heritage, directly improving their life prospects.
