Making financial choices can be stressful, so it’s no surprise that most Americans rely on recommendations from their nearest and dearest on such matters. Young people are especially receptive to their peers' comments, presenting an opportunity for brands to tap these connections.

Almost half of Gen Yers are tapping the bank of mom and dad to help pay for basic necessities like phone bills, groceries, and rent. Burdened by things like student loan debt and a high cost of living, young people need tools and services to help them gain independence and manage their own money.

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.

Even as consumer finance regulations loosen, people in America are still apprehensive about how to choose the right financial product. Canvas8 surveyed 3,300 Americans and spoke to 20 people across the US to figure out how people get the financial information they need.