The 2019 Challenge focused on developing innovative fintech tools to provide employers with new ways to improve worker financial health.
Nearly half of all U.S. workers report being financially stressed. This financial stress has spillover effects on employee productivity. By focusing on the financial well-being of their workers, employers have a significant opportunity to improve employee financial health while also benefiting their businesses.
Financial stress among U.S. workers can lead to increased absences from work, decreased on-the-job-morale, higher rates of turnover, and negative physical health consequences. To address these issues, the 2019 Challenge focused on innovative workplace financial health solutions, including short-term savings programs, income smoothing and insta-pay tools, small-dollar loans, student loan repayment assistance, and more. The Challenge sought solutions that could measure performance and impact within diverse work environments, especially for low- to moderate-income workers.
The fifth cohort featured companies committed to innovative workplace solutions, with the potential to improve financial health for users and drive positive impact for employers’ bottom lines.Explore the Cohort