Breaking Banks Building Financial Health Standards to Improve Lives and Institutions
In This Episode
In this episode, Breaking Banks delves into the evolving landscape of financial health standards, exploring how the Financial Health Network is pioneering a new set of standards aimed at designing financial products that prioritize consumer well-being. These standards, set to transform financial services by focusing on customer-centric outcomes, start with a focus on checking accounts and credit cards. encouraging people to spend well, and will be part of a library of standards around how financial institutions and fintechs can design financial products and services with the user’s financial health outcome in mind. A practical blueprint for building financial products with integrated financial health solutions.
Listen as Jason Henrichs and Brett King catch up with frequent guest Jennifer Tescher, President and CEO of the Financial Health Network and host of the EMERGE Everywhere podcast to discuss these new finhealth standards launched at the recent EMERGE conference. The trio explore:
- Creating a financially inclusive global economy: challenges and opportunities
- How financial industry standards shape consumer outcomes and institutional practices
- Improving financial decision-making through standards and outcome-focused frameworks
- Managing personal finances effectively with standardized financial practices
- Understanding moral hazard in financial services and regulation
- The impact of incentives and leadership priorities on financial system trust and performance
- Do consumers trust artificial intelligence more than traditional financial institutions?
Small changes can drive big impact and improve financial decisions, management and ultimately financial lives. There is a lot that financial institutions and fintechs can do right now and make a difference, but there’s also a lot to get right — tune in now!