Financial Solutions Lab
The Financial Solutions Lab is a community of startups, financial services companies and nonprofit organizations building solutions to improve the financial lives of Americans. Each year we will identify a new challenge topic raising awareness and generating insights around the most salient financial challenges facing Americans.
The Financial Solutions Lab is managed by the Center for Financial Services Innovation with founding partner JPMorgan Chase & Co. The Financial Solutions Lab is a program that seeks to identify, test and bring to scale promising innovations that help Americans increase savings, improve credit, and build assets.
Our Challenge for 2017 is Improving Americans’ Financial Health. Why this broad topic? Because most Americans are struggling financially. Some 57% of the population – or 138 million adults – have difficulty managing their day-to-day financial lives, establishing a cushion for financial resilience and positioning themselves for financial security and mobility. We’re broadening our search in order to encourage a greater diversity of solutions that address all kinds of obstacles on the financial health journey – whether consumers are just starting out, trying to develop a savings cushion, facing unexpected expenses like medical care or car repairs, or trying to retire without running out of financial resources.
This year, there are two application rounds with two separate deadlines. Round 1: March 16, 2017. Round 2: April 27, 2017.