CFSI and JP Morgan Chase fintech lab chases diverse talent
US-based Financial Solutions Lab is looking for diverse range of applications for fourth innovation challenge.
financial health
CFPB Financial Well-Being Report Underscores Industry Opportunity
More than 40 percent of U.S. adults struggle to make ends meet, according to new data from the CFPB. While not great news on its own, the findings could help financial services providers design products directed at improving financial well-being.
Study: Americans Uneasy about Finances Provide Opportunity for Financial Service Providers
One-fourth of Americans say they have too much debt, with 96 percent of them reporting they are financially stressed, according to a survey by the Center for Financial Services Innovation to gauge Americans’ financial well-being. While those statistics are bleak, they should signal an opportunity for banks, credit unions, fintechs and other companies to provide products, services and guidance to improve consumers’ financial stability, according to Jennifer Tescher, founder and CEO of CFSI.
Payroll Cards Earn Top Grades from CFSI—Except in One Area
The payroll card industry received high marks for its standards and its ability to “stretch beyond the basics,” according to a new report from the Center for Financial Services Innovation. But CFSI’s first-ever “Payroll Industry Scorecard” gave the industry an average mark for its ability to provide additional services that “improve customers’ lives.”
How to Grow Prepaid through Financial Well-Being
Prepaid providers are at a crossroads: They can create products that carry relative high fees, or craft consumer-friendly programs that promote financial health. Here’s a case for doing the latter.
