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Financial insecurity impacts more than just our customers. Financially healthy households promote more resilient and inclusive communities and economies. That is why we apply technology, behavioral science, and design strategy to support innovative technology-based solutions to promote financial health. At the center of our commitment to improving financial health is the Financial Solutions Lab, a $50 million, ten-year initiative managed by the Financial Health Network that supports promising innovations that can help Americans increase savings, improve credit, and build assets. The Financial Solutions Lab holds an annual competition to identify, test and scale products and services that address the needs of underserved communities in the United States.

The Winners of the Fifth Financial Solutions Lab Challenge

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  • Manifest (Chicago,IL)

    Makes 401(k) transfers seamless as employees switch positions by standardizing the process and linking providers to dramatically reduce administrative costs, compliance liabilities, and time.

  • MedPut (New York, NY)

    An employee benefit option that provides 0% financing and bill negotiation services for out-of-pocket medical bills, with no impact to an employee’s credit score.

  • Brightside (San Francisco, CA)

    A personalized financial health platform providing employees one place to go for all their financial needs.

  • HoneyBee (San Francisco, CA)

    Helps employees, regardless of credit history to access an extra week’s pay anytime to help manage unplanned expenses and build credit.

  • Onward (Kansas City, MO)

    An employer-based mobile savings and credit app that enables workers to save effortlessly, build financial knowledge, and access responsible credit when emergencies strike.

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Our Partners

As one of the country's leading nonprofits promoting the financial health of Americans, the Financial Health Network manages the Lab in collaboration with JPMorgan Chase and their advisory council, ideas42 and serve as strategic advisors, and are instrumental partners in the Lab's design, implementation and capacity to yield sustainable, scalable solutions.

Making an Impact Through the Financial Solutions Lab

To date, FinLab has supported more than 30 financial technology companies from more than 1,600 total applicants. Cohort alumni are offering innovative financial products that reach over 4.5 million people in the U.S. and have seen 20 times user growth since joining FinLab. Collectively, FinLab companies have raised over $500 million in capital since joining the program and have helped U.S. residents save over $1 billion.

4.5M reached

$1B saved

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