Building a Path to Financial Security
One in four American households lacks access to key financial products and services, including savings and checking accounts. Developing tailored financial services and tools will widen participation in the economic recovery and enable millions of Americans to save, manage debt, build credit, and move toward financial security. By catalyzing collaborations among financial institutions, corporations, entrepreneurs, nonprofit organizations, and cutting-edge technology firms, the Financial Inclusion Working Group will promote greater economic opportunities and advance financial capabilities for underserved populations.
Access There are emerging opportunities to design and pilot innovative financial products and services that meet the unique needs of underserved individuals.
Financial Education Access to appropriate financial tools needs to be coupled with financial education and capability strategies to shape the ability, knowledge, attitudes, and behaviors of individuals so they can make sound personal financial decisions.
Delivery Channels Major gateway points such as retailers, educational institutions, and the workplace present unique opportunities to improve the financial outcomes of underserved individuals, particularly young people.
Technology Advances in technology, including mobile banking, have created opportunities to bridge the financial services access gap and promote financial capability