A Snapshot of Quality and Innovation Among Small-Dollar Credit Installment Lenders
Millions of Americans lack access to high-quality, affordable credit. While innovating in the small-dollar credit industry poses challenges, the opportunity to serve borrowers in need of high-quality, small-dollar loans is significant.
“MAGIC Mojo” by Piggymojo
Piggymojo built an online and mobile tool that uses goal visualization, social sharing and mobile technology to help savers turn impulse buys into “impulse saves.”
Designing High-Quality, Small-Dollar Credit: Insights from the Financial Health Network’s Test and Learn Working Group
Millions of Americans lack access to high-quality, affordable credit. Many of the small-dollar loans available to consumers are high-cost, low-quality products that often lead borrowers into a cycle of repeat usage and mounting debt.
Financial Solutions Lab Snapshot: Solutions to Manage Household Cash Flow
Over the last year, more than 100 million American households experienced a financial shock. This year the Financial Solutions Lab’s second $3 million challenge was seeking solutions that could help Americans to weather such shocks.
The Financially Tenuous, a Consumer Financial Health Segment
More than half of Americans in the tenuous segment live paycheck to paycheck (53%) and struggle to keep up with bills and credit payments.
The Financially Striving, a Consumer Financial Health Segment
Strivers are generally able to make ends meet, but many of them are not satisfied with their current financial situation and are working to better their financial circumstances.
Press Release: Financial Solutions Lab Announces Winners of $3 Million Cash Flow Management Competition
Center for Financial Services Innovation and JPMorgan Chase today commit capital and technical assistance to nine innovative fintech organizations solving cash flow management challenge CHICAGO, June 11, 2015 — Today the Financial Solutions Lab (“FinLab”) announced nine financial technology innovators as the winners of its $3 million, inaugural competition aimed at identifying solutions that help […]
American Banker: Nine Apps to Help the Underbanked Take Control of Their Finances
At this year’s EMERGE Forum, the Financial Solutions Lab revealed the winners of a recent competition for apps that tackle consumers’ cash flow challenges. Take a look at the nine winning organizations and their innovative apps here.
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.
How Behavioral Science Can Improve Financial Technology Innovations
Guest blogger: Eldar Shafir, Co-Founder of ideas42, Princeton University Professor, and Advisory Council Member for the Financial Solutions Lab Like many of us, I’m lucky enough to be able to manage my daily life while devoting just a sliver of my mind to looking after my personal finances. But for lower-income American households, navigating continuously […]
The Financial Health Network Comment Letter on the CFPB’s Proposed Rules on Prepaid Cards
The Financial Health Network’s letter to the CFPB focuses on four main areas, each framed around what is best to achieve the overall goal of consumer financial protections that support financial health:
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.