In partnership with BECU, the largest credit union in Washington state, this study examines the impact of a new mobile app savings feature, Quick Save, which allows members to spontaneously transfer small amounts to their savings accounts with the swipe of a button.
Hear from several companies who have tested the impact of their financial health innovations, and learn about the behavioral techniques they leveraged for their savings programs that drove deeper engagement, increased savings deposits, and grew savings balances.
Learn how lack of emergency savings can hinder financial resiliency, and how workplace automated savings contribution programs can help, in this panel discussion.
Most low-to-moderate income (LMI) older adults are financially challenged to reach retirement and maintain their quality of life as they age. This report showcases research insights and design features that financial service providers can leverage to better support the needs of this group as they approach retirement, produced in partnership with the Institute of Consumer Money Management.
How can employers encourage workers to build their savings? Even, an employer-based earned-wage access platform, partnered with the Financial Health Leaders Lab to test the impact of presenting savings as an active choice during onboarding to its app.
How can competitions influence more people to build their savings? SaverLife, a nonprofit focused on helping working families to save and invest in their futures, partnered with the Financial Health Leaders Lab to test several approaches.
How do companies supporting the financial health of their customers and employees know which interventions are most effective? Here, we explore how a behavioral team operates within a financial services company to develop insights to create effective financial health solutions.
As consumers around the world struggle to manage debt, learn about the impacts of digital initiatives on debt repayment during tax refund season.
By Heidi Johnson Director, Financial Health Network Director Heidi Johnson joined the Financial Health Network team in 2019 to lead our work applying behavioral insights to the design and delivery of financial health products. She comes to our organization from the Consumer Financial Protection Bureau, where she led a behavioral research program and contributed to…
By Jacquelyn Reineke, Manager and Heidi Johnson, Director, Financial Health Network There is no denying that the COVID-19 crisis has turned the world upside down. Everyone has had to deal with daily changes to their routines and come to terms with a new normal, but vulnerable populations — in particular, aging Americans — have faced the most devastating consequences…
Older generations face the greatest health risks from COVID-19 and are also challenged to conduct financial management without access to in-person financial services like banking.
Despite their widespread use of technology, many adults 50 and older find it challenging to handle day-to-day financial needs online. However, shifting financial management systems online has become critical for older generations that face the greatest health risks from COVID-19. Through qualitative, human-centered research, the Financial Health Network uncovered barriers that inhibit older adults’ adoption of fintech, such as negative stereotypes about their tech savviness and concerns about losing granular control over their finances. This report offers recommendations for fintech customer experience design that financial services innovators can use to overcome these barriers and join older adults as partners on their journey toward financial health.