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At the center of our commitment to improving financial health is the Financial Solutions Lab, a $30 million, five-year initiative managed by the Center for Financial Services Innovation (CFSI) that supports promising innovations that can help Americans increase savings, improve credit, and build assets. The winners of the first Lab competition were announced in June, 2015.

Our Partners

As one of the country's leading nonprofits promoting the financial health of Americans, the Center for Financial Services Innovation (CFSI) will manage the Lab in collaboration with JPMorgan Chase and their advisory council, ideas42 and IDEO.org will serve as strategic advisors, and will be instrumental partners in the Lab's design, implementation and capacity to yield sustainable, scalable solutions.

The Third Financial Solutions Lab Challenge: Supporting Underserved Communities

This year, the Financial Solutions Lab is seeking fintech innovations that empower underserved populations to improve their financial health, including people of color, the aging, people with disabilities and low-income women. Click here to apply.

Why are We Working with these Groups?

Two-thirds

of African-American and Latino households lack the savings to recover from a traumatic financial event1.

44%

of families 65 and older experienced significant volatility in their expenses while on fixed incomes2.

32/100

Women own, on average, a mere 32 cents for every $1 that men own3.

2 times

Working-age people with disabilities are more than twice as likely to be living in poverty as those without disabilities4.

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