Fintech presents several opportunities to create positive changes in individuals’ financial lives. There is an opportunity to address financial exclusion, provide tools for individuals to thrive financially, and facilitate access to necessary resources such as government benefits. Although the digital divide may persist, fintech still provides many opportunities to expand access to benefits and increase equity in benefits distribution while efforts continue to address this complex issue.
This paper has been co-authored by Haidee Cabusora, Emma Cordova, Amina Kirk, and Ian Watson. Thank you The New York Community Trust for making this report possible.