Center for Financial Services Innovation offering investment capital, grants

Monday 4 April 2005 18:16 CET | News

The Center for Financial Services Innovation released its Request for Proposals today for its second round of funding awards, designed to advance practical strategies to service underbanked consumers and offer them asset-building opportunities.

The Center will invest in for-profit companies, as well as provide grants to nonprofit organizations. The total funding pool will be between $750,000 and $1,000,000. This second round will focus on applications which help move low-income consumers towards wealth creation, break new ground, leverage partners synergistically, and demonstrate the potential to become profitable or financially self-sustaining, as well as achieve either internal or external scale. CFSI is particularly interested in several promising strategic areas, including stored-value card solutions; remittances with ties into asset building; workplace-based strategies; bank-nonbank partnerships; alternative credit scoring, and self-service delivery channels.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce