CFSI Convenes Nonprofit and Industry Innovators to Spur Underserved Innovation

Tools

Exclusive Joint Meeting Designed to Share Knowledge, Promote Cross-Sector Innovation

NEW YORK--(BUSINESS WIRE)-- The Center for Financial Services Innovation (CFSI) today commenced the Financial Capability Innovators Development Lab in tandem with its Innovators Roundtable meeting in New York, NY. The meeting will focus on catalyzing innovation among financial thought leaders and innovators, all united in a commitment to better serve financially underserved consumers.

“The Innovators Roundtable represents a gathering of senior representatives from many of the nation’s largest financial services companies, all interested in developing products that improve financial outcomes for underserved consumers,” said Karen Andres, Manager and Consultant, Advisory Services. “Bringing these thoughtful executives together with the grantees of our Financial Capability Innovation Fund provides all attendees with the opportunity to network, collaborate, and share ideas about how to best move this field forward. The agenda centers on a site visit to some of New York’s most promising emerging financial services models. Our goal is to provoke thought and discussion about these models, prompting participants to think about ways in which their organization can contribute to a future where financial services are a force for good in people’s lives.”

“CFSI is committed to bringing our grantee projects to a place where they can improve the financial outcomes for Americans in a replicable and scalable way,” said Sarah Gordon, Director, Advisory Services and Nonprofit Investments. “By engaging in this cross-sector dialogue and witnessing real-world examples of success, our hope is that participants will be better positioned to bring their projects through to successful fruition.”

In addition to the site visit, attendees will discuss what defines quality in financial services as outlined by CFSI’s Compass Principles, learn about applying behavioral economics to consumer finance from Piyush Tantia, Executive Director of ideas42, hear about innovations in mobile financial services from Richard Kang, CEO of Wipit and network with other innovators and participants.

The Innovators Roundtable is a forum for industry leaders from across the financial services spectrum. Participants include: Bank of America, Capital One, Citi, Experian, FIS, GE Money, Green Dot, H&R Block, MasterCard Worldwide, Meta Payment Systems, NetSpend, Sears Holdings Corporation, U.S. Bank, Visa Inc., Walmart, Wells Fargo, and Western Union.

The Financial Capability Development Lab consists of grantees of the Financial Capability Innovation Fund, including: Consumer Credit Counseling Service of Delaware Valley, Co-opportunity, Inc., Filene Research Institute, Piggymojo, and Mission Asset Fund. Also in attendance will be a representative group of the Fund’s Funders. The Financial Capability Innovators Development Lab is part of CFSI's Financial Capability Innovation Fund which is supported by a collaborative of funders led by the Citi Foundation also including Bank of America, Morgan Stanley, Experian U.S. Bank and Visa. Special support for the Financial Capability Development Lab is provided by Capital One.

For more information about the Financial Capability Innovators Development Lab or the Innovators Roundtable, please contact Sarah Gordon at sgordon@cfsinnovation.com or Karen Andres at kandres@cfsinnovation.com, or visit http://www.cfsinnovation.com.

About CFSI:

The Center for Financial Services Innovation (CFSI) is the nation's leading authority on financial services for underbanked consumers. Through insights gained by producing original research; promoting cross sector collaboration; advising organizations and companies by offering specialized consulting services; shaping public policy; and investing in nonprofit organizations and start-ups, CFSI delivers a deeply interconnected suite of services benefiting underserved consumers. Since 2004, CFSI has worked with leaders and innovators in the business, government and nonprofit sectors to transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.com.