Track: Create Opportunity

Thursday, June 14, 2012

1:45 PM - 2:30 PM
Credit+: Innovations in Linked-Credit Products
Nick Bourke, Project Director, Financial Security Team, THE PEW HEALTH GROUP
Trent Sorbe, President, TANDEMMONEY
Roy Sosa, Founder and CEO, MPOWER VENTURES

Examine the practices and outcomes of linking credit with transaction and savings products through the lens of innovators in this space. The discussion will explore the cost benefits and efficiencies as well as implementation challenges for the providers. The potential consumer benefits and risks will also be discussed.

2:40 PM - 3:25 PM
Raise the Roof: How Regions Bank Began Offering a Suite of Products for the Underbanked Consumer
George Hodges, Managing Partner, NEW MARKET PARTNERS
Bill Simpson, SVP, Head of Now Banking, REGIONS BANK
Tracy Jackson, Vice President, Consumer Lending Product Management, REGIONS BANK

With the launch of the Now Banking suite of products and the Ready Advance credit service, Regions Bank has become one of largest banks in the country to offer a dedicated suite of financial products that meet the needs of the underserved consumer. This session will feature a case study on how they researched, piloted, launched, and continue to derive success from these products, including the surprises and challenges faced along the way.

4:00 PM - 5:30 PM
Empowering Consumers, Empowering Lenders: Shifts in Consumer Credit Decisioning
Corey Stone, Assistant Director, Credit Information Markets, CONSUMER FINANCIAL PROTECTION BUREAU
Moderator: Joshua Turnbull, Managing Consultant, Advisory Services, CENTER FOR FINANCIAL SERVICES INNOVATION
Robert Annibale, Board of Directors, CENTER FOR FINANCIAL SERVICES INNOVATION, and Global Director, CITI MICROFINANCE & COMMUNITY DEVELOPMENT
Ryan Guthrie, Alternative Data Business Leader, EQUIFAX, INC
Moderator: Eric Lindeen, Marketing Director, ZOOT ENTERPRISES

A key ingredient for accessing high quality credit is having a positive credit profile, yet millions of Americans have damaged, thin, or no credit files in the mainstream bureaus. This is particularly challenging for low- and moderate income Americans, for whom a positive credit profile is a vital component of multiple aspects of their lives, including housing and often employment. This session will feature new research on how financial institutions can help consumers they might otherwise turn down to build or rebuild their credit profiles. The research presentation will be followed by a panel discussion of the latest trends in enhanced credit data and analytics as well as the regulatory challenges and opportunities for increasing access to credit for underserved consumers.