Hawaii
“Can Hawaii's state and municipal government close the retirement savings and small business credit gaps for underserved workers and entrepreneurs through mandated programs and CDFI partnerships?”
HQHonolulu, Hawaii, USA
IndustryBank / Community
The story
The evidence primarily concerns the State of Hawaii's public finance and retirement infrastructure, including a state-mandated retirement savings program and a municipal small business lending initiative. Bank of Hawaii, a major financial institution in the state, selected FIS for digital and mobile banking. The state's embedded finance footprint is shaped by public-sector mandates rather than private product pivots.
Product timeline
2024
Hawaii passed legislation to establish the Hawaii Retirement Savings Program, a state-facilitated IRA for private-sector workers without employer-sponsored plans.· banking
2026
City and County of Honolulu launched the O'ahu Small Business Loan Fund offering micro-loans of $5,000–$50,000 via the Office of Economic Revitalization and Feed the Hunger Fund CDFI.· lending
The stack
Banking / BaaS
Lending
Accounting gap: none