UN SDG #10 Reduced Inequality UN SDG #10
UN SDG #8 Decent Work and Economic Growth UN SDG #8

challenge

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Financial services specifically for the financially unstable

Despite the plethora of financial services and products on the market nowadays, there is a lack of such services and products designed especially for the low-wage population. Approximately 30% of the U.S. working population engage in low-wage work, and many of them lead a paycheck-to-paycheck lifestyle.

challenge

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Financial services specifically for the financially unstable

Despite the plethora of financial services and products on the market nowadays, there is a lack of such services and products designed especially for the low-wage population. Approximately 30% of the U.S. working population engage in low-wage work, and many of them lead a paycheck-to-paycheck lifestyle.
47M
people impacted
$109.1B
potential funding
the problem
Nature and Context

Financial planning advice needs to explicitly address financial instability. Instituting a system of data mining techniques on small-scale transactions data to improve automatic and personalized financial planning advice to low-wage workers and using robust methods for accurate prediction of bank account balances and automatic extraction of recurring transactions and unexpected large expenses could help these paycheck-to-paycheck workers.

Symptoms and Causes
the impact
Negative Effects
Economic Impact
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who benefits from solving this problem
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financial insights
Current Funding
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ideas
Ideas Description
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Ideas Sustainability
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