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Over the last year, more than 100 million American households experienced a financial shock. This year the Financial Solutions Lab’s second $3 million challenge was seeking solutions that could help Americans to weather such shocks. The result? 356 applicants with access to over 4.2 million consumers. After combing through the applications and choosing nine winners, one thing is clear — we are seeing consumer fintech mature in front of our eyes. 

As we all know, there are many aspects to financial health beyond the prescriptive “spend, save, borrow and plan.” If you’re most Americans, you have no problem with the spending part. As for saving, many of us – some 90 million, in fact  have access to retirement plans as a feature of an employee benefits package. But what about the millions of Americans who don’t have access to an employer-sponsored retirement plan?