“Transforming Lives: From Banking to Active Aging – A Journey of Empowerment and Financial Independence with GetSetUp

CXOToday has engaged in an exclusive interview with Mr. Ashwini Kapila – MD – Business Development and Partnerships for India

• Can you share what inspired your transition from a long and successful stint as a banker to your role as MD – Business Development and Partnerships at GetSetUp?

Ans: My journey from banking to MD – Business Development and Partnerships at GetSetUp was inspired by personal and professional realizations. Observing my active, retired parents, who in their early 80s are traveling independently and extensively, as well as undergoing my wellness transformation, I recognized the untapped potential in the space of active ageing. My shift to a healthier lifestyle, from someone suffering from various lifestyle ailments, including sleep apnea, to discovering the joys and positive impacts of running and healthy living, was a wake-up call to prioritize well-being. This personal shift, coupled with engaging discussions with GetSetUp founders during the social runs and rides we do together, sparked my interest in leveraging technology for health and wellness. When offered a role at GetSetUp, it resonated with my desire to contribute meaningfully to the lives of older adults, blending my newfound interests with my professional expertise.

• Given your extensive background in financial institutions, how do you perceive the importance of financial independence for older adults, and how does GetSetUp contribute to this aspect?

Ans: Access to better healthcare means we are all living longer. We retire at the same age, though. Rising inflation costs mean we must preserve and grow the capital we retire with.  An active ageing lifestyle means being independent financially, and hence the knowledge of tools and available resources becomes even more important to plug the gap. At GetSetUp, we recognize that living an additional 20-30 years requires a strategic approach to financial planning. Our approach is two-fold: empowering seniors with the knowledge to manage finances effectively and creating opportunities for income generation. We provide expert-led learning modules on financial planning and using financial products wisely.

Through our learning modules online and offline workshops, we cover vital topics such as earning extra income from home, financial wellness, and investment basics. To complement these classes, we offer resource guides that provide quick tips and detailed insights into key financial areas. There are unexpected life events that occur after 60, such as health expenses or even a windfall of wealth from inheritance or gratuity income.

Additionally, our speaker series features esteemed experts and thought leaders who share their wisdom and experiences. By building a curated curriculum for active agers taught by their peers, we’ve built trust around what we impart. We equip them with the knowledge, and we want them to focus on financial independence, ageing independently in place, and affording the active lifestyle they all have rightly earned.

• What sets GetSetUp apart in its approach to fostering a community of older adults seeking to learn, connect, and unlock new life experiences?

Ans: GetSetUp is a peer-to-peer model i.e. the experts teaching the classes and those coming to learn are all active agers. This builds trust and reduces communication barriers. It creates a safe space to ask questions pertaining to technology and other things that might be more obvious to a younger demographic. This peer-to-peer model allows our community to forge new connections, share with peers, and contribute with their own wisdom. Our classes have live Q&A, support, and interactive polls and quizzes that make it more engaging.

We encourage our members to embrace new experiences outside the class as well and then provide a space where they can share their progress and hold each other accountable. Fitness is one such example, we do fitness classes every day but also want them to walk or participate in a sport or a marathon.

Our learning model is based on learning and doing, so the experiences continue outside the class as well. We are creating an ecosystem that nurtures the holistic well-being of our community as they age.

• Can you elaborate on the partnerships that GetSetUp establishes with financial institutions? How do these partnerships contribute to the overall mission of the platform?

Ans:  Most financial, and educational content, apps, and even ads for mutual funds are targeted at a younger demographic. The assumption is that this audience has already retired, and they have a corpus to work with, or someone is managing it for them. This is not entirely true with this audience of active agers.  We offer financial institutions such as mutual funds the ability to reach this audience and help active agers plan out the next 20-30 years and design finances around an active lifestyle. With a larger number of older adults needing to understand financial planning and execution to ensure that their savings and investments are well deployed both from a safety as well as returns perspective, our partnerships with financial institutions become an important medium to get to this cohort.

My own older family members have either been denied a credit card or have fallen prey to the much-contested ULIP schemes. Even though I’ve worked in finance my whole life, I’ve seen many instances of OTP frauds and cyber security threats. This forced us to think about how we can teach older adults to be more equipped to deal with online threats and how they can navigate the digital world with the same ease as I do. This is where financial institutions such as banks and mutual funds see value in working with us.  Creating a curriculum that helps older adults navigate finance apps, and online payments and building their confidence in having a stable financial portfolio to help them for the next 20-30 years.

These institutions also align with our belief that financial well-being is just one aspect of a fulfilling life. They value the importance of social connections, community building, and overall wellness, which encompasses both health and mental well-being, in addition to financial stability.

We offer tailored educational content, including classes on cybersecurity for online safety, investment strategies for covering their requirements from health to travel to pursuing hobbies, and will writing sessions for securing their financial futures. In addition, we actively facilitate social engagement and provide a range of health and wellness experiences through fitness challenges, art competitions, and more. This comprehensive approach aligns with our partners’ understanding of the diverse needs of their aging customers and is what makes GetSetUp an appealing and effective collaborator for these financial institutions.

• GetSetUp offers classes in various regional languages. How has the response been to interactive learning in different languages, and what impact does it have on the inclusivity of the platform?

Ans: We celebrate the diversity of cultures of our members. Hence, our classes and engagements are designed per the various needs of our learners, language being just one part of it. We host sessions across regional holidays, food, and clothing, and our community engages with each other across a diverse spectrum. The people enjoy the inclusivity and the learning of various cultures they discover and experience via the platform.

• The platform emphasizes classes led by peers who are experts in their field. How does empowering older adults to become instructors contribute to the success and uniqueness of GetSetUp?

Ans: GetSetUp was started with a mission to empower older adults. We believe older adults have 40-plus years of wisdom and experience. We want to empower them and leverage their experience by facilitating their coming on board as guides to share their knowledge with their peers. Having Guides who are active agers builds relatability and trust. They also understand the specific challenges and opportunities that come with age, offering invaluable insights from a perspective that resonates with their peers.

When older adults take on the role of instructors, it empowers not just them but also their students. We are breaking stereotypes about ageing by demonstrating that learning, growth, and contribution are not confined to the young. We actively also encourage our learners to take the next step in their journey by becoming instructors themselves. This reinforces lifelong learning, a sense of purpose, and continuous growth.  Age is an asset, not a limitation.

• Could you provide examples of the diverse topics covered in GetSetUp classes that directly address the specific interests of older adults, beyond traditional learning subjects?
  

Ans: GetSetUp classes cater to the diverse interests of older adults, extending across various topics. Our offerings include practical tech courses, for example, smartphone usage and using online tools for job and business enrichment, alongside specialized cyber security sessions like ‘Protecting Your Financial Information Online’. We also provide workshops on investment strategies so our active agers can live financially independent lives. For wellness, we offer yoga and strength training, complemented by fitness challenges and mental health-focused Mandala art classes. Creative pursuits also include photography, painting, interactive crafts, and cooking workshops. Beyond these, we host current events discussions, book clubs, language classes, and even in-person local meetups, fostering a vibrant, engaged community of active agers.

• Looking ahead, what are the envisioned future developments or expansions for GetSetUp in India, especially in terms of partnerships and the growth of the community?
  

Ans: GetSetUp is a place where older adults can access and learn about areas of interest specially created for them, with them in mind. As we build and expand our platform, both in terms of the community of Learners and Guides, as well as partners who consider this demography as a key stakeholder to their businesses or agenda, we will be enhancing the features and product suite across our platform which will only enhance the experiences of our communities.