One third of the money raised through GoFundMe is used to cover medical costs for Americans. With many increasingly unable to fulfil unexpected medical bills, crowdsourcing becomes an alternative for those put in a difficult situation by the US insurance-based healthcare system.

With ‘credit invisibility’ preventing millions of Americans from borrowing money, fintech firms are using data to cut out institutional bias, basing decisions on ‘true risk’ instead. Among them is Upstart, which is harnessing AI to humanize and modernize the personal loans landscape.

Research by home co-investments provider Unison has revealed the desperation US Gen Y have to own their own home, with concerns about the financial burden. As a result, many Yers say they'll rethink other traditional life milestones, such as marriage or having kids, to buy a house.

The younger cohort is the least economical when it comes to spending their money, with a new survey finding they're less frugal than any other generation according to a survey. As Gen Zers seek advice platforms for money management, brands are looking to fill the educational gap.