The emerging industry of technology startups providing financial services, known as FinTech, has typically targeted a relatively affluent customer base. Yet beneath the surface, a groundswell of hundreds of FinTech companies are developing innovations to serve a consumer segment in even greater need of new ways to access and manage their money.

Financially underserved consumers – those who are financially challenged due to a lack of access to traditional financial services, low or absent credit scores, or simply low incomes – represent over a quarter of American households and $78 billion in annual spending on financial services.1,2 Emerging companies are recognizing the pro t opportunity to apply financial technology innovations towards the development of products that better serve this market of more than 68 million U.S. consumers.