Creador Foundation, the non-profit arm of private equity firm Creador, has launched Multiply (multiply.org.my), a financial education platform aimed at simplifying personal finance.
Multiply meets the critical need for financial literacy in Malaysia where 33% of Malaysians think they have low financial knowledge*. Announcing the launch, Brahmal Vasudevan, CEO of Creador and Trustee of Creador Foundation said, “We believe that financial education should be accessible to all. Multiply draws on evidence-based practices to offer personal finance content that is simple, useful, extensive, and most importantly, free."
Brahmal added that through Creador’s work, the team became aware of how they could use their knowledge to meaningfully help Malaysians understand their finances. Creador Foundation produces the insights shared on Multiply by working with Creador’s financial analysts and subject matter experts.
These insights are then tailored for Malaysians, through testing with focus groups. This way, Multiply can be sure that it meets the needs of Malaysian adults.
Also recognising that learning about personal finance can feel daunting, Multiply is designed to accompany Malaysians every step of the way through significant life milestones, from starting a job to planning for a family to retirement and everything in between. New content is uploaded weekly and available in various formats - videos, blogs, infographics, calculators and more.
In tandem with its launch, Multiply has created a financial personality quiz for Malaysians to find out just how good they are with their money. With the results, Malaysians can then get started on finding the how- tos, tips and tools they’ll find most useful on the Multiply website. Users can access the "Where Are You on the Scale of Finance Newbie to Money Boss" quiz at: https://multiply.org.my.
Brahmal concluded, “In essence, financial awareness and understanding is the first step to reducing financial related stress which can have a huge impact on an individual’s overall well-being. Multiply is here to simplify personal finance so Malaysians can have a worry-free financial future.”
*Source: AKPK Report 2018: Financial Behaviour and State of Financial Wellbeing of Malaysian Working Adults