-
The personal financial management platform has been grooming select early-stage companies for 16 months. Now, its providing more services to entrepreneurs through its incubator program.
August 26 -
Consumers deserve the kinds of high quality, widely accessible savings, credit and payments products and experiences that are critical ingredients in the recipe for financial health.
August 26 -
Two former bank executives are starting a group that will test new ideas for the financial services industry, which has struggled to cope with its digital transformation.
August 23
Filene Research Institute is
The nonprofit think tank for credit union-related issues will choose 25 credit unions and five products to participate in an 18-month program that starts in November.
The incubator, which will operate out of Madison, Wis., will include three phases: testing product ideas, manufacturing and packaging products for mass adoption, and distributing products. The program's end goal is to implement and commercialize at least one of the products tested in the incubator among large financial institutions.
Filene received a $700,000, 30-month grant from Ford Foundation to fund the incubator.
"The Ford Foundation's support enables us to build an accessible financial services incubator that provides alternatives to payday lenders and other predatory providers in America's low-and-moderate-income communities," said Mark Meyer, chief executive, in a press release. "The incubator will contribute significantly to creating a vibrant financial marketplace that offers products beneficial for underbanked consumers and mainstream financial institutions."
