A Framework for Quality
The U.S. financial services industry faces several challenges, including increasing regulation, a fragmented marketplace, and the financially precarious state of many American consumers. Millions of Americans don’t have access to financial products and services that enable them to manage their money for today or build assets for tomorrow. To address these and other challenges, CFSI – in partnership with a cross-section of industry participants – created the Compass Principles.
CFSI’s Compass Principles serve as a framework to assess quality in financial products and innovations. They are guidelines that define how the industry can design and deliver the basic tools that people use to manage their day-to-day finances and improve their financial health over time. As we help providers design and implement products and programs through our Consulting Services, we have the opportunity to leverage the Compass Principles framework.
Responsibly expand access.
Develop mutually beneficial products that deliver clear and consistent value.
Drive positive consumer behavior through smart design and communication.
Provide options for upward mobility.
This one-pager gives examples of applying the Compass Principles to transaction products.Read More
The Compass Guide to Payroll Cards defines industry-wide best practices for the design and delivery of payroll cards.Read More
To help the industry take the lead in addressing these challenges and build trust with the public, the Center for Financial Services Innovation, in partnership with a cross-section of...Read More
The Compass Principles are guidelines for the U.S. financial services industry.Read More
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Prepaid Industry Scorecard: Assessing Quality in the Prepaid Industry with CFSI’s Compass Principles
Over the past decade, millions of American households have turned to prepaid cards to spend, save, and manage their money.Read More
Discover the Compass Guide to Prepaid through this informative infographic.Read More
This one-page document has examples of applying each of the four Compass Principles to savings products.Read More
Discover the Compass Principles through this informative infographic.Read More