Meet the 2022 Exchange grantee partnerships improving finhealth through access to public and private benefits. Learn More
The 2021 Accelerator Challenge focused on fintech solutions that help low- to moderate-income individuals and historically underserved communities in the U.S. improve financial resilience and long-term stability in the wake of the pandemic.
Two-thirds of adults in the U.S. are not Financially Healthy, according to the 2020 U.S. Financial Health Pulse, with Black Americans, people with low incomes, and women bearing the brunt of the economic burden of the coronavirus crisis. Months into the pandemic, underserved communities continue to be disproportionately affected, with a majority of Black and Latinx households across major U.S. cities reporting serious financial hardship. According to the JPMorgan Chase Institute, Black and Latinx families have 32 and 47 cents in liquid assets, respectively, for every $1 held by White families.
The coronavirus pandemic and economic crisis exacerbated long-standing systemic inequities and hit financially vulnerable people especially hard. Our 2021 Accelerator Challenge set out to equip underserved individuals with fundamental financial tools, services, and protections designed to advance their financial health.
The seventh cohort identified fintech solutions to improve individuals’ financial resilience, which in turn can positively impact their housing, physical and mental health, job opportunities, and other areas of their lives.
Explore the Cohort