FinTech & Nonprofit Partnerships Working Group

Partnerships offer the potential to create a powerful combination of innovative technology tools and supportive relationships with trusted partners — all with the goal of building financial health.

CFSI’s FinTech-Nonprofit Working Group was established in 2017 to facilitate and support partnerships between nonprofits and fintech providers. Many nonprofits work directly with the financially underserved, building trusted relationships in order to address their clients’ financial challenges. Fintech providers are leveraging mobile and online technology to create new products and tools to help users more easily manage their financial lives. Partnerships offer the potential to create a powerful combination of innovative technology tools and supportive relationships with trusted partners — all with the goal of building financial health. The working group will provide a vehicle for documenting best practices for partnerships, a marketplace for direct facilitation of partnerships between members, and a source of support for fintech providers and nonprofits working together on holistic financial health solutions.

Nonprofit members of the Working Group are drawn from the broad universe of mission-oriented organizations working directly with consumers to improve their financial health. Among others, this includes community organizations, national coalitions of direct service organizations members, and nonprofit community development financial institutions.

Fintech members of the Working Group consist of organizations or companies developing financial technology designed to solve financial health challenges. Among others, this includes start-up companies, established financial service providers with fintech offerings, and nonprofits creating financial technology.

2017 Goals

  • In-person meetings at CFSI events (EMERGE and Network Summit) and ongoing engagement through virtual channels.
  • Members participate in cross-sector dialogue meant to uncover best practices for building effective fintech-nonprofit partnerships.
  • Members use the Working Group as a platform to directly solicit and form distribution partnerships.
  • Members will receive advice from peers and technical assistance from CFSI to support their work on active partnerships.
  • CFSI will harvest key insights and actionable guidance gleaned from Working Group discussions, participant data and partnership case studies and share broadly with the nonprofit field and financial services industry.

Membership Expectations

  • Members have an expressed interest in exploring the potential of fintech-nonprofit partnerships to improve consumer financial health.
  • Members are considering or actively seeking participation in a partnership.
  • Members attend working group meetings and contribute to ongoing discussions regularly.
  • As a core goal of the Working Group is to broadly share insights and best practices, members can expect to receive requests to share data and info publicly and, to the extent possible, be willing to do so.
  • The working group is made up of a diverse group of financial service providers of all sizes, mission-based organizations, and funders. Membership is limited to approximately twenty members to ensure a focused, committed group.
  • Working group members have an equal voice in contributing to the agenda and discussion. Sponsorship does not elevate a member’s influence on the objectives or output of the working group.