Financial Health Network Launches First-Ever Financial Industry Standards at its Flagship EMERGE Conference
The new FinHealth Standards offer a practical blueprint for building financial products with integrated financial health solutions.
Financial Health Network Launches FinHealth Works to Assess and Enhance Employee Financial Health Programs
This easy-to-use, comprehensive assessment tool helps diagnose and improve worker financial health programs.
New Report Highlights Critical Turning Point for Middle Class Families
Escalating costs in housing, childcare, transportation, and most every household budget item can only be tackled through cross-sector solutions.
Financial Health Pulse 2024: 70% of Americans Remain Financially Unhealthy as Day-to-Day Financial Health Weakens, Middle Income Households Hit Especially Hard
Latest report on America’s financial health reveals stark contradictions depending on whether a household has credit card debt or investments; middle income households see sharp drop in ability to manage debt.
FinHealth Spend Report 2024 Finds Spending on Interest and Fees Climbed 17% to Reach All-Time High of $415 Billion
New data from Financial Health Network shows credit balances, spending on interest and fees, and unmanageable debt all increased for Americans, with the financially vulnerable and people of color paying an outsized portion.
Bank of America’s Brian Moynihan Bestowed with the 2024 Financial Health Visionary Award
Prestigious award recognizes unparalleled leadership in building a more accessible and inclusive financial system
Financial Health Pulse 2023: Share of Financially Vulnerable Americans Grows to 17% of Population, Climbing to Pre-Pandemic Levels
Largest Pulse data collection finds growing financial health inequities based on race, ethnicity, and age.
New Research from Financial Health Network Shows 90% of Working-Age People with Disabilities are Not Financially Healthy
Report also finds that 93% of people with disabilities are unfamiliar with ABLE Accounts, the primary tool offered by the government for building and maintaining assets without losing public benefits
2023 FinHealth Spend Report Finds Fees and Interest on Non-Mortgage Financial Services Skyrocket 14% to $347 Billion
New research from Financial Health Network documents the real cost to Americans of rising interest rates and expanding post-pandemic credit balances
Discover Launches $36 million Fund Aimed to Improve Financial Health in Delaware
Discover Bank has launched a new mission-driven investment fund, the Discover Financial Health Improvement Fund, to support startups and early stage technology companies who are developing solutions to improve the financial health of low- and moderate-income people, communities, and small businesses. Discover Bank has made an initial capital commitment of $36 million.
Four Out of Five Americans Were Financially Unhealthy at Least Once Over Last Five Years
Novel five-year research uses proprietary Financial Health Pulse data, the nation’s benchmark measurement for finhealth, to provide a unique look at life events, income and other factors that most impact individual financial health over time.
Cryptocurrency Kicks Off 2023 With Decline in Ownership
A new Financial Health Network survey finds remaining owners appear to hold crypto as part of a larger investment strategy; holdings are now lowest among Black investors.
New Financial Health Data Shows Vast Disparities Across Race and Ethnicity in Chicago
Black Cook County residents are almost twice as likely to be Financially Vulnerable than their counterparts nationally; Latinx residents are nearly one and a half times as likely.
Entrepreneur Focus: Jennifer Tescher
Two events — a financial crisis followed by a global pandemic — demonstrated to Jennifer Tescher just how vulnerable the majority of Americans are.
New Financial Health Pulse Data Shows Correlation Between Cost of Gas and Consumption and the Impact of Price Increases on Financially Unhealthy
Top-line finding shows that as gas prices increased in 2022, overall consumption decreased and that the financially unhealthy often made smaller, more frequent purchases to fill up their tanks.
2022 Financial Health Pulse: Financial Health Drops for First Time in Five Years of Measurement
New data shows erosion of financial health gains from pandemic, led by significant declines in middle- and upper-income earners, black people and women.
New Financial Health Data Finds that Despite a Majority of Workers in Low-wage Jobs Deemed Family Breadwinners, Only 13% are Considered Financially Healthy
New report offers first-ever glimpse into the financial health of workers in low-wage jobs revealing that many struggle with savings, insurance coverage, and paying for basic living expenses
New Financial Health Study Examines Deep Gender Gap in Financial Health with Men Nearly 50% More Likely to be Financially Healthy
Pandemic widened persistent financial health gap between men and women; Black and Latina women and low-income women fare the worst in new findings.
Financial Solutions Lab Announces 2022 Accelerator Cohort
The Financial Solutions Lab, an initiative launched and managed by the Financial Health Network in collaboration with founding partner JPMorgan Chase & Co. and with support from Prudential Financial, today announced that it has selected six organizations for its 2022 Accelerator program which is focused on financial benefits and tools.
Financial Solutions Lab selects six for 2022 cohort
The Financial Solutions Lab, an initiative launched and managed by the Financial Health Network in collaboration with founding partner JPMorgan Chase & Co. and with support from Prudential Financial, today announced that it has selected six organizations for its 2022 Accelerator program which is focused on financial benefits and tools.
Financial Solutions Lab Announces 2022 Accelerator Cohort Focused on Access and Removing Systemic Barriers to Financial Benefits & Tools for Underserved Consumers
Selected companies focus on streamlining low- to moderate-income, Black, and Latinx individuals’ navigation and use of benefits and tools in support of better financial health.
2022 FinHealth Spend Report Marks First-Ever Decline in Ten Year History of Tracking Fees and Interest Paid for Everyday Financial Services
Reduction attributed to student loan debt moratorium, pandemic-related decline in credit card debt and government stimulus funds allowing many to avoid high-cost lending; but underserved populations still pay greater proportion of fees and number of factors indicate likely rise in year ahead.
Financial Health Network Releases New Research Finding that Financially Vulnerable Consumers Most Likely to Use and Struggle With Repaying Buy Now, Pay Later Loans
Data also shows overwhelming majority of users understand terms and are successfully using the product.
Financial Health Network Announces Adeeb Z. Mahmud as New Chief Program Officer and appoints Accenture’s Dr. Tamarah Duperval-Brownlee to Board of Directors
Organization Focused on Promoting Financial Health for All, specifically in financial services, healthcare and workplace sectors
Have fintechs cracked the financial inclusion code?
Financial Health Network President and CEO, Jennifer Tescher, joins on Bankshot podcast at the Money 20/20 conference in Las Vegas, Nevada.
Financial Solutions Lab Launches Eighth Accelerator Challenge Seeking Fintech Companies Addressing Racial Wealth Gap and Financial Health of LMI Communities
The Accelerator seeks applications from financial technology companies focused on helping low- to moderate-income (LMI) and Black and Latinx communities expand access to benefits and financial tools that help them to maintain key safety nets and improve their financial health.
The newest fintech bank account is for the formerly incarcerated
If you were to look at fintech apps at random, you’d quickly spot ones that help you collect your paycheck earlier, settle up IOUs and invest your money. If you spent a little more time digging, you might uncover banking apps designed for immigrants, Black Americans and the LGBTQ community. What you likely wouldn’t notice are products built for the formerly incarcerated. Until recently.
Financial Uncertainty in America: 2021 Financial Health Pulse Shows Government Aid Improved Financial Health but Gains at Risk as Relief Programs Subside and Pandemic Lingers
Two-thirds of Americans still financially unhealthy with particular challenges facing women, LGBTQ+ communities, and people with disabilities; inequities remain by race and gender.
Fintech and vulnerability
Fintech is having an enormous impact on the financial affairs of some of the most vulnerable in society.
2021 Finovate Award Winners Unveiled
Today we’re busting out the virtual confetti to announce the winners of the 2021 Finovate Awards, recognizing excellence in fintech across 25 different categories. This is the third annual Finovate Awards competition, which aims to highlight strong work done by the companies who are driving fintech innovation forward and the individuals who are bringing new ideas to life.
Designing for Whom? Lessons from a Coordinated Relief Effort to Reach Student Loan Borrowers Most in Need
In this article, we explore how FSL supported two interventions to identify and reach the most vulnerable student loan borrowers during the height of the pandemic.
New Financial Health Toolkit Helps Employers Improve Workforce Financial Health
New all-in-one guide gives HR leaders the power to diagnose needs and identify solutions, plus design engagement and measure impact of their financial health programs
Startups for Good
Interview with Hannah Calhoon, vice president of Innovation at the Financial Health Network.
6 ‘jugaad’ principles that could rebuild the post-COVID-19 U.S. economy
The U.S. must look to places like India, Brazil, Africa, and China for a new approach to frugal and flexible innovation called jugaad—a Hindi word meaning “the gutsy art of improvising a solution in difficult conditions with limited resources.”
The Innovators 2021: Best Innovation Labs
The notable fintech hubs, labs, incubators, and accelerators examined by Global Finance this year have both turned to technology to function during Covid-19 and nurtured startups that help financial institutions operate in a socially distanced world.
Financial Solutions Lab 2021 Accelerator Cohort Announced
The Financial Solutions Lab, today announced it has selected eight organizations for its 2021 Accelerator program.
Financial Solutions Lab 2021 Accelerator Cohort to Improve Financial Resilience and Growth for Underserved Communities in Wake of Pandemic and Beyond
As part of 10-year $60 million initiative, selected companies focus on credit, insurance, digital banking, and asset building solutions for LMI, Black, Latinx, and LGBT+ communities
New Pulse Data Shows Stimulus Payments Jump Started Spending But Funds Slowest to Reach Low-Income Individuals
Chicago, IL, May 20, 2021 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, with support from the Citi Foundation, today released its first Financial Health Pulse Points brief featuring transactional data that highlights the effects of the two federal stimulus payments and tax refunds issued in early 2021 on account […]
Her Majesty Queen Máxima of the Netherlands Announced as the 2021 Financial Health Visionary Award Recipient
Chicago, IL, May 18, 2021 (GLOBE NEWSWIRE) — Financial Health Network, the leading authority on financial health, today announced that H.M. Queen Máxima of the Netherlands, United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA), will be the recipient of the 2021 Financial Health Visionary Award during the EMERGE Financial Health virtual event […]
2021 FinHealth Spend Report Shows Financially Coping and Vulnerable Households Spent $255B for Everyday Financial Services
Chicago, IL, April 20, 2021 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, in partnership with Prudential Financial, today released The FinHealth Spend Report 2021, the evolution of our annual market sizing report showing Financially Coping and Vulnerable households account for 84% of spending on fees and interest for financial […]
The fintech partnership helping Sterling Bancorp reach kids
Kids who save money early are likelier to become adults who attend college, own stocks, and exhibit other positive financial behaviors.
New Financial Health Pulse Data Shows Millions of Americans Still Financially Struggling Amid Ongoing Pandemic
Food insecurity and fear of eviction pervasive among those hardest hit financially by pandemic with many borrowing money or cutting back on healthcare visits and medication
Frugal Solutions
The Financial Solutions Lab is showing how traditional financial organizations can co-create with nonprofits and entrepreneurs to improve the financial health of all Americans. Read the article on Stanford Social Innovation Review >>
New Financial Health Network Report Finds Many Employers Taking Action to Improve Employee Financial Health Benefits Following the COVID-19 Pandemic
Chicago, IL, Nov. 12, 2020 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, today released the “Know Better, Do Better: Building an Effective Financial Health Benefits Strategy” report in partnership with Morgan Stanley at Work, showing that close to 90% (86%) say they are aware of their employees’ financial health […]
Financial Solutions Lab Launches Seventh Accelerator Challenge to Support Fintech Solutions that Help Address Financial Instability
As part of $60 million, 10-year program, seventh annual Accelerator program now accepting applications from financial technology companies helping people improve financial resilience and build long-term financial growth in the wake of COVID-19 CHICAGO – Oct 27, 2020 – The Financial Solutions Lab, an initiative from the Financial Health Network in collaboration with JPMorgan Chase […]
2020 U.S. Financial Health Pulse Data Shows A Tale of Two Americas: Gap Widens Between Financially Healthy and Vulnerable Populations
Chicago, IL, Oct. 13, 2020 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, in partnership with Flourish Ventures, MetLife Foundation, and AARP, today released the U.S. Financial Health Pulse 2020 Trends Report, revealing an uneven impact to financial health over the last year. While the topline data shows 33% of people […]
PayPal and JUST Capital Launch New Collaborative Initiative
Learn about this new initiative, which calls on the C-suite to prioritize financial security for employees.
New Report Explores Financial Health of Young Adults of Color
Chicago, IL, Sept. 29, 2020 (GLOBE NEWSWIRE) — The Financial Health Network, the nation’s authority on financial health, in partnership with the GenForward Survey research program from the University of Chicago, today released a new report called “Race, Ethnicity, and The Financial Lives of Young Adults: Exploring Disparities in Financial Health Outcomes.” The report finds […]
Prudential Joins Effort To Fund Fintechs Fighting Inequality
Prudential Financial is dedicating $10 million to fintech oriented towards solving intransigent financial and social inequality in the U.S. Read the Article on Financial Advisor Magazine >>
From AT&T To Xerox: 85+ Corporate Innovation Labs
Innovation is critical for established companies to stay relevant in the face of disruption. Here’s our list of corporate innovation labs. Read the Article on CBInsights >>