Financial health platform Level appoints Chief Behavioural Officer
A former banker turned behavioural economist, Dr Coke started his career as a risk manager at HSBC before moving to China after the global financial crisis. There, he continued in wealth management, launching Hilmann Reinier Commodities Ltd. in 2012.
Dr Coke holds a PhD from King’s College London, writing his thesis on behavioural economics. As the company’s ‘nudge architect’, he is tasked with evolving and adapting Level’s industry-leading financial health services based on insights gained from the platform, helping create targeted, meaningful interventions.
Rather than using a single solution in isolation such as loans or early wage access to treat short-term financial issues, the Level platform offers a suite of solutions to create positive behavioural change.
“I am delighted to take on this role,” he said. “Level is a truly unique platform that is focussed on changing behaviours to help people better manage their finances. I passionately believe in the role behavioural science can play in achieving this aim. Now more than ever, employers must take action to help their staff make positive choices. Not only will this benefit the company, but society as a whole.”
Level provides a range of tools for employers to offer their staff including early wage access, budgeting tools powered by Open Banking, salary-linked savings and financial education. In December 2020, it was deployed to Capita’s 45,000-strong workforce
Level adheres to an ethical charter based on the use of software to empower all working adults to achieve financial freedom regardless of age, job role or salary bracket.
CEO Stephen Holliday added: “Many of the UK’s largest employers are becoming more aware of the importance of financial health and wellbeing strategies, but don’t know how best to roll them out to the workforce. The appointment of Dr Coke will help shape our proposition and demonstrate how our platform is helping to empower people to make positive behavioural changes to meet their financial goals and overcome barriers.”
It also partners with the Behavioural Insights Team, known as the ‘Nudge Unit’, one of the world’s leading behavioural science organisations, to test and evaluate the best ways to encourage everyone to build up a savings buffer for the future. As well as this, Level users have access to education and advice from the Money and Pensions Service.