If You Build It, Will They Come? Lessons To Increase Product Uptake
The Financial Health Network teams up with Elevate and Finicity to ensure that the right audience finds and engages with a financial health product.
Brett King: The Future of Everything
Can we predict the future? Brett King believes he can. The self-proclaimed futurist is known for his ability to see the social and economic changes coming and the opportunities they will bring. In this episode of EMERGE Everywhere, Jennifer sits down with Brett to discuss his newest book, “The Rise of Technosocialism: How Inequality, AI and Climate Will Usher in a New World,” and how we can prepare ourselves to meet the most pressing challenges facing businesses and societies today.
Financial Wellness for Employees: Insights from Five Fintechs
Employer-channel fintechs play an increasingly crucial role in supporting employees’ financial health through products like low-cost loans, and financial coaching. The Financial Solutions Lab partnered with the Social Policy Institute at Washington University in St. Louis to examine the uptake, usage, and impact of five companies: Brightside, HoneyBee, Manifest, MedPut, and Onward.
2020 U.S. Household Bill Pay Market Size & Category Breakout
Provided by doxo, this research reveals that Americans spend $2.75 trillion annually – over one fifth (21%) of all U.S. consumer spending – across 11 primary bill payment categories.
The 4 Phases of the COVID-19 Economy – What Comes Next?
With the arrival of a new administration in D.C. in a few weeks, it’s time to refocus on what Americans need now to support their financial health. Our recently released 2020 Trends Report found that many Americans were able to cope during the pandemic largely because of…
70% of Voters Say Recent Changes to Their Own Financial Health are Impacting How They Vote
Provided by doxo, this research shows how the personal financial effects of the COVID-19 pandemic are affecting how Americans plan to vote in the 2020 election.
U.S. Financial Health Pulse: 2020 Trends Report
Discover key findings from the 2020 U.S. Financial Health Pulse regarding Americans' financial health, including profound disparities across race and ethnicity.
How Financial Institutions Can Structure Small-Dollar Credit for Financial Health
Recent regulatory developments have opened opportunities for lenders – particularly banks – to offer small-dollar credit. Data shows that investing in customers’ financial health results in greater long-term loyalty and profitability. In this brief for financial institutions and other lenders, the Financial Health Network offers a series of recommendations for supporting the short and long-term financial wellness of small-dollar credit customers.
It’s the Organizational Siloes, Not Just the IT Stacks, that Are Sidelining Innovation
Since consumers clearly want the personal finance tools developed by fintechs and other innovators, why are banks and credit unions not offering them widely? The core challenge is to get fintech apps to talk with banks’ existing technology stacks and build a shared business case across the organization.
Workplace and Healthcare Leaders Join the Financial Health Network
We’re excited to welcome two experts to the team that will drive workplace and healthcare financial health strategies forward: Matt Bahl and Adrienne White-Faines.
Better for Employees, Better for Business: Providing the Tools to Meet the Financial Health Needs of Employees
Many employees are financially stressed and are looking to their employers for support. In this infographic, we focus on employees’ needs for financial guidance, emergency savings, and debt management benefits. By providing support in these areas, employers can distinguish themselves, improve worker engagement, and help employees to thrive.
The Case for a Place-Based Approach to Financial Health
By Necati Celik Associate, Financial Health Network Place is security, space is freedom: we are attached to the one and long for the other. Yi Fu Tuan, 2001: 3 There’s no place like home. Due to the pandemic, home has now become both the workplace and the playground for many of us. But what is…
Speaking Out About Racial Discrimination: A Letter To Our Staff
This blog by Jennifer Tescher was shared with the Financial Health Network staff in the wake of the murder of George Floyd at the hands of police and the protests and civil unrest that have followed: Putting emotions into words is hard right now.
Insurance: The Critical Missing Piece in Financial Well-Being
Provided by Franklin Madison, this research shows that obtaining life insurance can be key to achieving a healthy financial picture and to achieving lasting financial peace of mind.
New Pulse Data: Those Who Need COVID-19 Stimulus Most Are the Last to Get It
By David Silberman, Senior Advisor, Financial Health Network The COVID-19 pandemic has caused widespread economic dislocation. Tens of millions of Americans have lost their jobs, at least temporarily, and millions more have seen their hours drastically cut. Those job and wage losses have fallen disproportionately on low-wage workers, especially blacks and Latinos, who are concentrated…
Are HSAs and IHRAs Good for Financial Health?
We used the Financial Health Network Compass Principles, a set of quality standards for products and services that support financial health, to assess HSAs and IHRAs.
Something Old, Something New
The features of the financial services landscape that have brought today’s consumers convenience, reduced friction, and easily accessed revolving credit have now been with us for so long that we view them as fixed infrastructure. These gains have been accompanied by a loss of some of the tools and habits of mind that helped the grandparents and great-grandparents of today’s Millennials make it through two world wars and the Great Depression.
The Need is There: Secured Credit Cards as a Credit-Building Tool
By Laura Cummings, Director, Financial Health Network Amazon’s new Credit Builder secured card has ignited debate and dialogue about access to credit and the role secured cards can play in helping or harming consumers. We often hear about the millions of Americans who are deep in credit card debt, which points to the downside of…
Retronovation #3: Installments to Tame Credit Card Debt
Installment loans’ appeal, in comparison to credit cards, are the fixed terms — a year or two or three — and equal payment amounts that automatically commit a borrower to paying off the debt.
Challenges Threaten the Financial Health of Low- to Moderate-Income 50+ and Require Innovative Solutions
By Andrew Dunn, Senior Associate, Financial Health Network For years, financial planners described the financial lives of individuals over 50 as following a predictable life cycle. The “traditional” path typically included diligently saving in an employer-provided retirement account, paying off a mortgage, then fully retiring while reducing expenses in order to live comfortably. However, this…
Why Join the Financial Health Network’s Financial Health Leaders Program
A Sharing of Ideas: How cross-country exchanges can foster innovation
Recently, Financial Health Network and MetLife Foundation hosted five social entrepreneurs from South Korea to exchange ideas and learnings with U.S. nonprofits, social enterprises, impact investors and financial health fintech companies. There were three main themes that made an impact on the South Korean social entrepreneurs.
2018 Financial Health Leaders Spotlight: BECU
Listen in as we hear BECU discuss their financial health measurement strategy for both customers and employees and what they are learning after building a financial health model.
FinLab Snapshot 2018
To address the broad range of financial challenges facing consumers, the Financial Solutions Lab’s fourth annual Challenge focused on diversity in innovations and teams to promote new financial health solutions for diverse populations. The 2018 Snapshot Report offers insights on emerging trends in the fintech ecosystem and this year's applicant pool.
2018 Member Summit Resources
Resources and presentations from the 2018 Member Summit, October 4-5, 2018 in Chicago, IL.
2018 Financial Health Leaders Spotlight: UFCU
Listen in as UFCU share’s why it has included employees in their measurement strategy and the business case it hopes to make around employee engagement.
Financial Health Leaders
The Financial Health Network’s Financial Health Leaders program recognizes members that are at the forefront of financial health measurement.
2018 Financial Health Leaders Spotlight: Opportunity Fund
Listen in as we hear Opportunity Fund, share findings from a recent impact study and what it hopes to add to that by piloting the Financial Health Network’s Small Business Financial Health Study.
2018 Member Kit
Announce your membership publicly and internally using the Press Kit, learn about member-only research and events.
Assessing Products and Services to Fit the Needs of Their Customers
Learn what a the Financial Health Network Financial Health Assessment taught Patelco about their customers and how they are assessing products and services based on this data.
Tools to Provide a Prescription for Financial Health
Learn how Envestnet | Yodlee is using data analytics to build tools companies can use to provide consumers with a prescription for improving their financial health.
The Financial Health Network Comment Letter on Proposed Amendments to Rules Concerning Prepaid Accounts
The Financial Health Network submitted this letter in response to the request for comment on the proposed Amendments to Rules Concerning Prepaid Accounts, issued by the Consumer Financial Protection Bureau (CFPB, the Bureau) and published on June 29, 2017. Like the CFPB, we recognize the important role that prepaid products and services can play in the financial health of U.S. consumers and we are committed to promoting high-quality financial products. We believe that financial services can be a force for good in people’s lives and that meeting consumers’ needs responsibly is ultimately good for both the consumer and the provider.
The Financial Health Network Comment Letter on Proposed Guidance for Third-Party Lending
The Financial Health Network is submitting this letter in response to the request for comments on the “Proposed Guidance for Third-Party Lending” issued by the Federal Deposit Insurance Corporation (FDIC) and published on July 29, 2016.
Member Summit 2016 Presentation
Dispatch from D.C. – 2016 Outlook
Credit Cards and Financial Health
Financial Solutions Lab Winners Brief
The Financial Solutions Lab at the Financial Health Network with founding partner, JPMorgan Chase, announced the nine winners of its $3 million competition for technology innovators.
Consumer Financial Health Study
This research explores the state of financial health in America in a groundbreaking examination of consumer behaviors, attitudes, and preferences.
Big Data, Big Potential: Harnessing Data Technology for the Underserved Market
This paper examines four key trends and explores how real-life companies are leveraging Big Data in financial services.
Opportunity Fund, Start2Save, and the Journey of Product Development
Learn how Opportunity Fund's savings program, Start2Save, has evolved to provide improved financial health benefits and economic empowerment to some of America's most vulnerable communities.
One-Page Overview of the Compass Principles
To help the industry take the lead in addressing these challenges and build trust with the public, the Center for Financial Services Innovation, in partnership with a cross-section of industry participants, created the Compass Principles.
Financial Technology Trends in the Underbanked Market
The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base.
Sunrise Community Banks: Navigating the Learning Curve
Since launching its first general purpose reloadable prepaid card program in 2008, Sunrise Community Banks affiliate University Bank has expanded to issuing 50 prepaid card programs for 16 program managers.
Regions: Designing with a Fresh Eye: A Case Study in Meeting More Customers’ Needs
In this case study, the Center for Financial Services Innovation looks at the steps Regions took to create and implement products and services for the underserved, and why it is important to the bank to serve this customer segment well.
Accessing the American Dream: Utilizing Affinity Marketing to Reach Underbanked Populations
This report addresses the extent to which traditional affinity marketing models apply to underbanked segments while exploring the nonprofit community's role in marketing and distributing financial services.
Expanding Financial Services to Underbanked Consumers
This paper explores opportunities for using the moment of tax preparation to bridge the gap between the financial needs of underbanked consumers and services that can meet those needs.