-
Four Ways Big Data Can Improve Financial Lives: CFSI previews its upcoming report on harnessing data technology for the underserved market
Big Data is a buzzword, but it’s also a very real phenomenon: analysts estimate that annual data production will increase by a whopping 4300% between 2009 and 2020. In advance of a new report on the subject, the Center for Financial Services Innovation discusses four key trends driving Big Data innovation that can unlock value for both financial providers and consumers.
- Categories
- Education
-
Competing with the ‘Bank of Mom’: What makes informal finance so popular – and how can financial services providers respond?
After tracking the financial activities of lower-income Americans for a full year, the U.S. Financial Diaries project found that informal financial mechanisms were enduringly popular - even when formal alternatives were used. What makes them so appealing - and how can financial services providers respond? We discuss these issues in part two of our Q&A with FAI Executive Director Jonathan Morduch.
- Categories
- Education
-
Understanding the ‘Invisible Finance Sector’: FAI Executive Director Jonathan Morduch discusses the U.S Financial Diaries’ research on informal finance – Part 1
It’s easy to assume that informal financial tools like family loans are only used when people lack access to formal finance. But that’s not what the U.S. Financial Diaries project has found. In part one of this Q&A, Financial Access Initiative Executive Director Jonathan Morduch discusses the enduring appeal of informal finance among low-income people - and what it means for financial services providers.
- Categories
- Education
-
A Better Way to Get Paid? : Defining quality for ‘payroll cards’
For low-income employees who lack access to bank accounts, payday often comes in the form of cash or a paper check. But cash can easily be lost or stolen, and checks often require a costly or time-consuming visit to a check casher. Reloadable, prepaid "payroll cards" are a much better alternative, says Thea Garon at the Center for Financial Services Innovation, in describing CFSI’s new Compass Guide to Payroll Cards.
- Categories
- Uncategorized
-
Twitter Top Ten – 12/14/14: Our favorite tweets of the week
As we move one step closer to the end of the year, we’ve got a full slate of interesting tweets from the past week. They include some encouraging investments and new partnerships, important new research, and an intriguing reply from Safaricom to a recent NextBillion post. As always, if you see anything you like, be sure to retweet it.
- Categories
- Entrepreneurship, Health Care, NextBillion Originals
-
Building Quality Products to Improve Low-Income Americans’ Financial Health: CFSI, Visa discussion conveys key challenges and opportunities for U.S. financial services providers
What is needed to improve the financial lives of low-income people in the U.S.? CFSI and Visa recently hosted a discussion on this question with notable financial services executives. They challenged the group to identify solutions for the 68 million financially underserved Americans. Kimberly Gartner, CFSI’s Senior Vice President, Strategic Partnerships, describes the conversation that ensued.
- Categories
- Uncategorized
-
PRESS RELEASE: CFSI Identifies Household Cash Flow as the Focus for its First Innovation Challenge
The Financial Solutions Lab at the Center for Financial Services Innovation (CFSI) today announced that household liquidity, the management and alignment of income and expenses, will be the focus of its first innovation challenge.
- Categories
- Uncategorized
-
Prepaid Protections: An interview with Cecilia Frew, Head of U.S. Prepaid at Visa
Prepaid debit cards are booming in the U.S., with consumers loading over $64 billion onto them in 2012. But due to regulatory uncertainty, there’s widespread confusion about their fees and terms. To address this, Visa is creating a special designation for cards that meet a set of consumer-friendly standards. We spoke with Cecilia Frew, Visa’s Head of U.S. Prepaid, about the product.
- Categories
- Uncategorized