OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign Up / Login or Learn more

50+ Marketplace (Update 22-01-2017)

Matching a virtually infinite set of needs by trading via a networked and dedicated set of solutions.

Photo of Diogo

Written by

Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

This idea is designed for the '50+ youngsters', holding savings or some sort of patrimony over which they can obtain liquidity, in order to fulfill their needs in a dedicated financial market place. This marketplace would offer a wide range of financial products and other services provided by the credit unions and other partners, because no single financial institution is capable of offering such a universal solution.


Statistics aside, the population is getting older and life expectancy is increasing. In this context, one gets to the age of '50' carrying over a legacy (physical, emotional and patrimonial) together with the concern of securing the future. This is also the time when people usually rush for last-minute savings.

As a result, each individual ends up having very specific needs and wishes, thus leading to a virtually infinite set of choices from the demand side.

It then becomes almost impossible for a single financial institution to offer a universal solution.


Offer a financial based marketplace where ‘50+ youngsters’ can trade their financial credits for specific needs, supplied by dedicated service partners.

Ideals aside, this corresponds to a co-op approach, where the market is somehow owned by the ‘50+ youngsters’ eligible for trading, and by the credit unions. Running in such way, would also give them the power to potentially redistribute the gains throughout chosen causes.

Key Stakeholders & Interests

‘50+ youngsters’: Gain access to liquidity with advantageous conditions, at the credit union (e.g. by getting a 2nd mortgage on the house while keeping the right to live in it, via a rental contract). This liquidity is then used to trade in the marketplace for specific needs.

Credit Unions / Other Financial Institutions: Secure income with trading commissions, potential x-selling to other financial products, holding savings accounts, servicing other family members, amongst others.

Service Providers (travel agencies, care providers, financial advisors, insurers): Make business by gaining access to a restricted market of loyal customers, well segmented and financially secured.

How it works

Trade the needs (e.g. ensure a trust for the grandchildren, healthcare, traveling, etc.) in the marketplace (limited to the people over 50 trading within this financial consortium). If they don't use their ‘stocks’ or ‘credits’, they can then re-sell them on the market (trading, in the traditional way). For example: one person acquires the right (credits / stocks) to travel next year. If somehow ends up not using them, this person could trade back these rights.


Set-by-step, i.e. start with simple products (needs) and then expand over time to higher risk products (such as cancer treatment). It can potentially evolve and become complemented by an insurance marketplace, mathematically designed by actuaries and financial experts.

What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

This would need a direct access to a sample of potential 'customers' by partnering with one or several credit unions, to properly gage their needs and openness to this concept and approach.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

Design Thinking approach, including brainstorming and prototyping.

Tell us about your work experience:

In a certain way, I consider myself as being an Organizational Intrapreneur. And I really look forward to successfully combine design thinking with business strategy.

This idea emerged from

  • An Individual

How would you describe this idea while in an elevator with someone?

A great way for the Credit Unions to offer their services to 50+ customers. Finances itself, promotes senior inclusion and trading efficiency. Aligned with the moral principles of a Credit Union. Combines financial services with senior care and social networking. #Fintech

How might your idea be transferable to a large number of people?

1. Start with a pilot: pool of Credit Unions, target 50+ customers and providers. 2. Validate and make all necessary adjustments. 3. Promote online, with the providers, at credit union branches, amongst others. 4. Make the marketplace platform an active tool within the credit union system, preferently by fully integrating it. 4. Grow to integrate as a social network platform (with Facebook, others, or itself). Spread the word and earn rewards based on customer loyalty and recommendation.

How do you plan to measure the impact of your idea?

1. # of active users 2. # trades 3. Total assets value

What are your immediate next steps after the challenge?

Get feedback, feedback and feedback
View more

Attachments (2)

Experience Map_01.pdf

Experience Journey (using the suggested tool for experience map, with dedicated cards for each step). Very nice and helpful tool!


And here it goes a Prototype, applicable for 2 main steps and to provide a grasp of the concept. Once again, thanks to the good card tools! It is a simple approach but (I expect) intuitive to follow.


Join the conversation:

Photo of Tammy Robert

Good Day Everyone,

Are you a business man or woman? Are you in any financial mess or Do you need funds to start up your own business? Do you need a loan to start a nice Small Scale and medium business? Do you have a low credit score and you are finding it hard to obtain capital loan from local banks and other financial institutes?

Our loans are well insured for maximum security is our priority, Our leading goal is to help you get the services you deserve, Our program is the quickest way to get what you need in a snap. Reduce your payments to ease the strain on your monthly expenses. Gain flexibility with which you can use for any purpose from vacations, To education, To unique purchases.

We offer the following types of loans:

* Car Loan
* Home Loan
* Mortgage Loan
* Investment Loan
* Commercial Loan
* Construction Loan
* Debt Consolidation Loan
* Business Loan [secure and unsecured]
* Personal Loan [secure and unsecured]
* Student Loan and so many more.

We offer a wide range of financial services which includes: Business Planning, Commercial and Development Finance, Properties and Mortgages, Debt Consolidation Loans, Business Loans, Private loans, Home Refinancing Loans with low interest rate at 2% per annul for individuals, Companies and corporate bodies. Get the best for your family and own your dream home as well with our General Loan scheme. For More Urgent Information Contact Them Immediately.

Text or Call: +1 (210) 556-0342


View all comments