Barcelona–based community fintech, 11Onze becomes one of the first community start-ups in Europe to launch 11Onze check – a free fact checking service to address financial and economic disinformation on the web. With deliberate misinformation campaigns and the continued prevalence of fake news, fact-checking sites are now more important than ever, especially when it comes to money matters and cybercrime.
11Onze Check is built on a framework with a list of 10 elements to verify the percentage of misinformation including bias and oversimplification, that may be present in economic communication or financial education content, as well as highlight transparency regarding funding sources. The goal is to teach people how to verify financial disinformation in order to create a kind of “participatory verification”.
Its development closely mirrors several leading educational platforms on misinformation such as Learn-to-check, First Draft, Full Fact, and fact-checkers from the Poynter Institute’s International Fact-checking Network.
The 11Onze Check analyses economic content from the web and other financial entities and publishes the results on the 11Onze Check section of its private social network La Plaça. It’s a free service that allows customers and members to also evaluate information from their banks or other financial platforms. Any content that needsverification can be analysed using the 11Onze Check 10-step framework. In addition, it checks if piece of information lacks context, is purely emotional or has commercial interests.
“In a digital era, where news travels quickly through multiple channels, how can you check your facts? One of our key missions at 11Onze is encouraging financial literacy, hence, it made perfect sense for us to offer a service wherein, our members and customers have at their fingertips a fact-checking service to acquire credible information to make informed decisions,” explained James Séne, Chairman 11Onze.
