Common Change has a goal to tackle economic isolation and insecurity using a technology platform to allow members to pool money with those they know, to share with people in urgent need of financial support.
It's all controlled by a smartphone app and, once authorised, payments can then be paid to people in need.
Matt Wilson, chair of trustees for Common Change told Premier it's a new concept based on an old principle.
"This is a very ancient idea," he said.
"It takes inspiration for the early church model where the believers pooled their resources into a common fund so they had the opportunity to give to others."
Common Change groups can be formed by groups of friends, by church small groups and home groups, by extended families or amongst workplace colleagues.
The groups, also known as generosity circles, agree between themselves how much members will contribute each month.
Standing orders are established with Common Change and the online platform provides live reporting on how the group piggy bank is growing.
Wilson said the needs being met are discovered, decided-on and delivered by the group members.
"Whether it's a neighbour, whether it's an old person who's lost their spouse who's having difficulty adjusting to pay the bills, each one of them has the opportunity to make a request into their common pot to say, 'let's take a little bit out to help this person in need'," he said.
Discussion follows, very much like the comments section of a Facebook post, and the app works out whether or not there is sufficient backing.
Assuming there is, Common Change will arrange for the disbursement of the requested funds.
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