AUSTIN, TX – May 1, 2017 – In honor of National Financial Literacy Month, Aliya participated in “Money Smart Week,” an annual financial literacy campaign hosted by Financial Fitness Greater Austin (FFGA) from April 22–29, 2017. FFGA is a financial education and awareness initiative in partnership with the FDIC’S Alliance for Economic Inclusion and more than 60 entities.
Aliya led five financial literacy classes with several schools in the Greater Austin community, including Rouse High School and Block House Elementary School. Aliya volunteers taught budgeting, saving, and credit to students at Rouse High School, and income and taxes to students at Block House Elementary School.
“I loved the input coming from a team of professionals who currently work in the field,” said Sandra Valderaz, a fifth grade math teacher at Block House Elementary School. “This made an impression on my students and also validated the information they have learned.”
At the high school, Aliya volunteers led classes through a saving and budgeting activity, in which students navigated several different real-life scenarios. Volunteers also discussed the basics of credit health, credit scores, and credit reports.
Mikyela Tedder, a teacher at Rouse High School, commented, “My students will continue to benefit from these classes for a long time. Learning about credit as a teenager will help them avoid mistakes and hopefully set them up to be able to easily finance any large purchase they would like later on.”
She added, “Many [students] commented about conversations they had with their parents at home, and how some of the tips the Aliya staff provided were well received by their family.”
In teaching personal finance, Aliya hopes to get students and families to think about financial planning and other important finance skills. “The stigma around talking about money is huge,” said Jessica Kincman, Software Project Administrator at Aliya and one of the volunteers who taught at the high school. “I walked out of each class with a strong appreciation for the program’s no-stigma approach, and the feeling that each student walked out of the class knowing at least one new thing.”
Aliya hopes to bring not only financial education and awareness to the surrounding community, but also affordable financial products and services to underserved consumers through its Transformational Lending Solution. Aliya’s solution has been in production with a top 10 U.S. bank since November 2016, showcasing strong early results.
Aliya offers a proprietary technology, analytics, and capital solution that enables financial institutions to unlock hidden opportunities to extend more credit to their existing customer base. Through the use of machine learning, highly individualized underwriting approaches, and alternative data, Aliya can identify the 40% of their “Non-Prime” customers who can perform as Near-Prime/Prime—thus creating more profitable lending relationships, while also providing crucial, affordable credit products to an underserved population.