Americans face serious challenges because we’re doing a terrible job of managing our money, personally and as a nation. Our booming fintech industry should be part of the solution but appears to be part of the problem instead.

Just two of every five Americans spend less than they make, while another two spend all they make and the rest spend even more by borrowing, according to FINRA Investment Education Foundation’s latest annual survey of 25,000 people. This is little changed since 2009 during the financial crisis. What’s even more worrisome: 76% of respondents gave themselves “very high” ratings on financial knowledge, up from 67% since the financial crisis, but just 14% could correctly answer five “everyday life” questions about interest rates, inflation, bond prices, mortgages and risk.

Unfortunately, the fintech industry — and I’m part of it, which is why I feel strongly — appears to also suffer from a disconnect between its self-perception and reality. “Disrupt” is one of the most overused words of fintech, but there’s not much disruption happening when it comes to breaking Americans’ habit of spending too much and saving too little. As we face national debt approaching $20 trillion and an ongoing debate about when, not if, Social Security will go bankrupt, the fintech industry is focused instead upon finding more effective and convenient ways to get people to spend or borrow. This isn’t innovation; it’s iteration.

Read more: When it Comes to Financial Literacy, Fintech Is Dropping the Ball