The financial technology sector is huge and growing–in 2016, $12.7 billion was invested in fintech according to CB Insights. Whether they are disruptors of the traditional banking system, working with robo-advisors to help consumers invest smarter easier, or making credit-building easier, many new startups are focused on young, technically-literate millennials, who are now the largest […]

In a Feb. 16 field hearing, the CFPB said it wants industry input on using alternative data to help thin- or no-file consumers build credit scores. It’s a challenge that many in the prepaid industry have been trying to solve for years to better serve cardholders who often are among the approximately 26 million U.S. consumers who don’t have a credit history and another 19 million consumers whose credit histories are insufficient to produce a credit score, according to CFPB estimates.

By Aliza Gutman, Financial Health Network There’s no arguing that fintech has tremendous potential as a delivery channel for high-quality products and services to help consumers improve their financial health. Yet many fintech tools are still not designed with the needs of underserved consumers in mind. In our just-published brief, we share what we learned…

By Rachel Schneider & Jennifer Tescher, Financial Health Network Sometimes, complex problems demand simple solutions. According to Financial Health Network’s research, 57% of Americans are financially unhealthy. The Pew Charitable Trust found that over 70% of Americans are income limited, savings constrained or debt challenged, and a third of Americans experience two or even three…

By Financial Health Network Underserved Consumers spent $141 billion in 2015 to borrow, spend, save, and plan their financial lives. What products do they use to meet their needs, and where are the opportunities for innovation? American consumers have never had more choices when it comes to financial products. But having choices doesn’t always mean…

As highlighted in UNC’s recent evaluation of the Financial Solutions Lab, one of the key differentiators of the Financial Solutions Lab from other accelerators, incubators, and investment activities is our commitment to improving consumer financial health. Success for us goes beyond helping an organization raise its next round of capital. What matters most is being […]

By Tyler Griffin, Financial Health Network This post is a follow-on to our recently released FinLab Snapshot, a report in which we identified industry insights, trends and analyses based on FinLab’s 356 applicants in 2016. In this post, we’ll share more about something we called out as one of the “trends on the horizon” we…

By Katherine J. Flocken Financial Health Startups Win Their Way to Money20/20 As autumn arrives, financial services innovators know it is almost time for Money20/20 — one of the largest conferences for payments and financial services innovation in the world. It is a major event for those in, or trying to break into, the financial services industry….