Better Together: Meeting the Needs of Consumers of Color Through Partnerships
Change Machine and NALCAB share some key takeaways for nonprofit practitioners and fintech providers who are committed to reducing the digital divide.
ID Access for Returning Citizens: Learnings from the Field
Access to mainstream financial services, like a bank account, is critical to financial health and provides people with a safe way to store money, transact, pay bills, and build savings. But, being “banked” remains a financial health challenge for many. In 2019, according to the FDIC, more than 5% of U.S. households – 7 million […]
Meeting the Needs of Consumers of Color With Fintech
How can innovation better serve consumers of color? Join us to understand how fintech tools and trusted community institutions can support the financial health of consumers of color and young people.
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.
A New Alabama Law Brings Opportunities, Challenges for Reentering Citizens
For the nearly 600,000 Americans who return to their communities from incarceration each year, reestablishing financial stability and access to safe financial products is key to improving financial health. For many returning citizens, lack of ID can limit employment and housing opportunities. There are several reasons returning citizens may leave incarceration without ID: They may […]
Increasing the Financial Health & Employment Opportunities of Returning Citizens
To help lower barriers to financial health and improve employment outcomes for returning citizens, the Financial Solutions Lab has awarded grants to five nonprofit and fintech partnerships working across the United States as part of our 2021 Exchange cohort.
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.
FinHealth Spend Report Reveals Opportunities for Fintechs and Other Financial Health Stakeholders
The high spending on interest and fees revealed in the FinHealth Spend Report highlights the importance of connecting more consumers with affordable products and services. A clear market need exists for financial health-enabling products and services, and FSL is proud to work with fintechs addressing that need.