Through this new initiative, Georgia Tech researchers will leverage Fiserv data to generate insights into household financial behaviour, which will be relevant to policy makers, consumers, and small businesses.
The three-year partnership, funded by Fiserv, has a goal of increasing financial and payments inclusion.
Understanding the financial health of US consumers and offering innovative ways to increase their financial resiliency is important. By combining insights from data with FSIL team’s expertise in household finance and big data analysis, they intend to deliver insights about how economic trends such as inflation affect US consumers and small businesses.
As a company that enables money movement for thousands of financial institutions and millions of people and businesses, Fiserv will enable FSIL to construct a picture of consumer spending and financial health. This will allow researchers to generate insights about how consumers and small businesses are impacted by sudden economic changes as well as larger economic trends.
According to Fiserv, they intend to use data to actively create opportunities to further financial inclusion. By partnering with Georgia Tech, Fiserv will be able to grow their understanding of the populations and businesses who use their solutions, and take steps to impact people’s financial lives.
The FSIL was created to establish the Scheller College of Business and Georgia Tech as the hub for finance education, research, and industry. Responsible and sustainable finance is a major research focus for the FSIL, consistent with the broader Georgia Tech vision of inclusive innovation for a better future. The FSIL engages faculty, students, businesses, and practitioners through five interconnected channels: research, student learning experiences, events, recruiting, and facilitation of fintech entrepreneurship.
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