Social Impact: Innovating Fintech for Those Most in Need- Kellee Marlow & Jimmy Chen

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SUMMARY

More than 35 million Americans live in households that struggle with hunger. One in ten households in the U.S. experience food insecurity. Millions of low-wage earners are barely getting by, week to week. They worry about how to pay the rent and put food on the table. They need government programs, including Food Stamps and Medicare, on top of working full-time jobs just to get by. How can we support those who are on the brink of despair?

GUEST NOTES

Kellee talks with Jimmy Chen, who is working to address this challenge through his Propel platform and company. Its mission is to deliver accessible financial support to the low-income and minimum wage earners. In addition, Propel is a co-creator of Project 100 that has quickly raised and distributed over $140 million in cash to the most vulnerable population during this pandemic.

Propel is building software for low-income Americans who are often overlooked by traditional tech innovation. Their current focus is on helping people manage their food stamps, a $70 billion program that reaches 40 million Americans, with the goal of providing an economic empowerment platform for them. The company is one of three finalists in The Wall Street Journal's Financial Inclusion Challenge. It is a winner of the NY Times’ Good Tech Award and Fortune's Impact 20. Propel has been featured in leading media outlet, including the Forbes, New York Times, Wall Street Journal, and WIRED Magazine.

WHAT IS SPARK?

Spark, hosted by Kellee Marlow, on KXSF.FM in San Francisco, focuses on curated conversations with change-leaders and influencers- to inform minds, inspire ideas and ignite innovation. Basically, conversations that enable us to transcend beyond what we believe we are capable of.