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.

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.”

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.

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.

More than half of Americans in the tenuous segment live paycheck to paycheck (53%) and struggle to keep up with bills and credit payments.

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.

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.

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:

This paper examines four key trends and explores how real-life companies are leveraging Big Data in financial services.

Learn about the different phases of Start2Save, Opportunity Fund's savings program, which has provided $83 million in microloans and microsavings for clients in need since 1994.

This report examines the significant volume of recent investment activity in the FinTech market for financially underserved consumers. This consumer finance segment is a dynamic and growing space.

For eight years, the Financial Health Network has championed innovative strategies for meeting the needs of underbanked consumers

Since 1955, H&R Block has been known as the go-to company for income tax advice and tax return preparation.

The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base.

Driven to help households better manage their finances and attain financial stability, a number of nonprofits, financial services providers, and government agencies have turned to the concept of financial capability in the search for effective solutions.

Armed with a Financial Capability Innovation Fund grant from the Financial Health Network, Piggymojo is transforming the way people think about savings.

Centris Federal Credit Union believes serving underserved consumers doesn’t just make good business sense, but is integral to its heritage and mission.

Core Innovation Capital has set out to serve more than 10 million people, and save them at least $50 a month, for a total annual savings of $6 billion, in addition to helping them become more upwardly mobile.

Nexxo Financial Corporation joined forces with Centris Federal Credit Union and Carver Federal Savings Bank to supply transaction kiosks to provide consumers more convenient access to the financial services they need.

Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.

Although underbanked consumers in the U.S. often have insufficient access to financial services, their access to mobile phones is fairly widespread.

Underbanked consumers need minute-to-minute information about their finances, and mobile financial services (MFS) are well suited to deliver it.

The need for new ideas to improve Americans’ financial capability has been evident throughout the recent recession.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

The current economy has spawned renewed examination of the market potential for secured credit cards.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

The recent financial crisis has revealed that Americans at all income levels exhibit difficulty in managing their finances and are ill-prepared to weather economic stresses.

Being “credit underserved” can have many unfortunate consequences. Learn how companies are designing new strategies that assess creditworthiness in innovative ways.

In this report, learn insights into the current credit reporting system, why it doesn’t work for everyone, and efforts underway to improve it with the addition of new data sources.

Learn key findings about retail locations in which consumers can access financial services, including the impact of ATMs, point of sale and kiosk technology, and reloadable stored value cards.