New Report from Nonprofit Leaders in Financial Technology about the Promise of FinTech

I believe financial technology has the potential to positively impact how hardworking Americans manage their financial lives and, ultimately, build more secure financial futures. I also believe that this potential may not be realized if the development of fintech products and services are left solely in the hands of the private sector.

This is why I am so proud to be a founding member of Nonprofit Leaders in Financial Technology, a group of seven nonprofit fintech providers driving meaningful and lasting change at the intersection of technology and financial inclusion.

As nonprofits, nLIFT members are driven by mission and impact before profits, uniquely positioning us to leverage technology to advance a fairer and more inclusive financial system. We are first and foremost committed to working to build the financial security of low- and moderate-income households and we see a unique and necessary role for the nonprofit sector to play in ensuring that fintech innovations focus on those who are too often overlooked by the financial mainstream.

nLIFT is comprised of seven nonprofit leaders in the fields of technology and financial inclusion: Commonwealth, Earn, The Financial Clinic, Mission Asset Fund, My Path, Neighborhood Trust Financial Partners, and National Federation of Community Development Credit Unions and is convened by the Aspen Institute’s FIELD and the Financial Security Program.

nLIFT’s new manifesto lays out our vision for inclusive fintech as we seek to build on the proud history of mission-driven finance and carry that work forward into the fintech era. We hope you will join the conversation.

 

Leigh is the president and CEO of EARN.