Can an App Improve Our Financial Health?

 Ov er the last decade, technology has shifted the way Americans approach everyday issues, like hailing taxis or even something as simple as ordering dinner. Unfortunately, those same solutions have not been applied across the board to crucial issues that have a real impact on people who need the most help. But as millions of Americans struggle with financial insecurity, innovative approaches are leveraging new technology solutions to address this crucial issue.

Many Americans continue to struggle with financial insecurity. Roughly 34 million households lack a checking or savings account.1 Forty-three percent of Americans struggle to pay their bills and half of all Americans lack a savings fund for emergency use.2 One in every five Americans has no idea how long they could make ends meet in the event of a job loss.3

Janis Bowdler, Head of Financial Capability initiatives at JPMorgan Chase & Co. recently spoke with Jennifer Tescher, President and CEO of the Center for Financial Services Innovation (CFSI) about the financial challenges facing many Americans, the importance of developing innovative solutions to help address this major issue, and how the Financial Solutions Lab will work to attract top technology talent to create solutions to improve financial health.