Fintech

As millions of Americans struggle with their financial health, many of the most innovative and successful solutions are coming from outside the traditional financial services space. At the Financial Health Network, we’ve long been invested in working with fintech providers to cultivate and scale new approaches that advance finhealth, especially those benefiting low- to moderate-income consumers and historically disadvantaged communities.

Understanding Fintech and Financial Health

In our fintech work to date, the Financial Health Network has uncovered several key findings:

  • Fintechs have a tremendous opportunity to move Americans closer to financial health by addressing current gaps in the market and specific consumer needs.

  • As providers take a more holistic view of financial health, fintechs are moving to address issues in health, education, housing, and other relevant areas.

  • Addressing policy issues involving data access, coordination of federal and state regulation, and the relationship of the banking system to fintechs is critical to helping them thrive.

  • Nonprofits provide an important proving ground for finhealth innovations, bridging the gap between fintechs and the underserved consumers who can benefit most from their products.

Data Spotlight

Co-founded by JPMorgan Chase and the Financial Health Network, the Financial Solutions Lab aims to identify, test, and scale innovations with the power to improve our financial lives. To date, the Financial Solutions Lab has:

 

Why Financial Health Matters to Fintech Providers

By viewing innovation through the lens of consumer financial health, fintech providers can differentiate themselves in the broader marketplace. Aligning the success of their business with the success of their customers enables these innovators to build trust and loyalty with those they serve.

How We Can Help

The Financial Health Network has a long tradition of investing in early-stage companies and ideas, from our groundbreaking work with Financial Capability Fund and Catalyst Fund to the entrepreneurs who participate today in the Financial Solutions Lab. We take a needs-based approach to fintech innovation, zeroing in on specific financial health challenges and identifying solutions that hold the greatest promise for consumers. Through our ongoing research, investment, and policy work, we strive to create a positive environment for fintechs that allows new finhealth solutions to flourish.

Explore All Related Research

Additional Research Topics

Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.