Understanding and Improving Consumer Financial Health
Nearly a decade post-recession, more than half of Americans struggle with their financial health, according to the Center for Financial Services Innovation (CFSI). And it's not just low- to middle-income households in need. A third of households making more than $100,000 per year are financially unhealthy.
What role does the financial services community – financial institutions, financial service providers, policymakers and nonprofits – play in improving the financial health of consumers? In this video, Mark Ernst, chief operating officer, Fiserv, and John Thompson, senior vice president, Center for Financial Services Innovation, talk about what it means to be financially healthy. They discuss how financial institutions and consumers can benefit from services and products that solve consumers' financial challenges.