Good Financial

Re-thinking, re-designing, and re-inventing financial services for migrant workers
Where we're at?

Concept and business plan team may be incomplete.

Idea is formed project ready to launch.

Have paying customers adapting to market.

Growing company and users!

Good Financial exists to serve the financial needs of domestic helpers and empower them to thrive.

The idea for Good Financial was conceived during the PhD research done by Dr. Joy Arenas.

She learned that there are 360,000 domestic helpers in Hong Kong and 90% of them have taken a loan before.

However, the experience of getting a loan is awful and full of pain points. The financial industry for migrant workers is horribly broken and dysfunctional.

Domestic helpers describe the loan-taking process as ‘scary’, with lenders being aggressive and intimidating. Moreover, the interest rates can be exorbitant – 120% per annum or more.

Some lenders also require them to have guarantors, which is the single biggest problem which causes the most trouble. Many borrowers are vulnerable, living on the knife's edge of poverty. When a financial emergency happens they cannot pay their loan.

The lending companies aggressively collect from both the borrower and the guarantor which usually results in employers being contacted, which then leads to the helper being terminated.

The worst part is this spreads. The guarantor has their own loans, with guarantors too. When the guarantor gets terminated, more people are dragged into the mess. This all dominoes until 5-10 borrowers end up in financial ruin because of 1 initial emergency.

The guarantor system has to stop. It is time for change.

Good Financial exists to provide ethical financial services for domestic helpers to trust. With No Guarantors. Fast and Convenient Service. Ethical Loans and Savings. Low Interest.

We care more than just P&L. We are purpose-oriented: developing bold solutions and re-inventing financial products with an inclusive and customer-centric approach.

We are improving access to financial products with the goal of empowering women and generating social value. This part comes from the heart.

We provide ethical, low-interest loans to women migrant domestic workers through their mobile phone. Through this, we aspire to save our customers at least HK$100 million by reducing the interest rates. This means we help them save more money, more time, have a more enjoyable customer experience, less stress, and ultimately, a better quality of life.

We provide faster and more convenient service. Our company only requires workers to apply from their phone anytime, anywhere through our Good Cash app. Book your appointment, meet our team, sign the digital contract. Then they can make their payments with a QR code through any 7-11 store in Hong Kong. Done!

We also supercharge our customers' savings in our unique "loan + save" model, which first of its kind in Hong Kong.

We will eventually launch new products for domestic helpers, including Good Credit Union, and Good Remit.

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    Jared King
    Jared King is an entrepreneur driven by a very clear purpose: to use entrepreneurship to help disadvantaged groups thrive.
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    Spark So
    Extensive app development experience. Technical degrees from world-class universities
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    Rochelle Le Pine
    Serial entrepreneur.
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    Malcolm Loudon
    Head of Relationship Management
    Serial entrepreneur, successfully exited his previous company. Extensive account management experience
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    Charlotte McClure
    Head of Risk
    Big 4 and senior-level investment bank experience.
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    Joy Tadios-Arenas
    Head of Collections
    PhD in migrant worker labour. Expert in migrant domestic worker financial issues.