I go to more conferences than are good for me. And if you’re like me, you don’t attend many sessions, and you meet with the same cast of characters. I have two suggestions on breaking those rules. If you read this blog, I’d argue there are two must-do conferences on…
Let’s Halve the $78b Spent by the Underbanked on Fees and Split the Difference
People generally assume serving the underbanked is a noble thing to do. And it is, if you do it right. You can make an incredible difference in the lives of a quarter of the US population by providing them with better tools with which to spend, borrow, plan and save.…
More than one in four Americans are Unbanked or Underbanked
The FDIC updated its 2009 figures (based on 2008 Census data) of who uses what kind of basic financial services and released them yesterday. It’s not just any four years later, but marks a period that represents significant change in the economy and individual American’s lives. What did we learn?…
The most prized ideas
A couple weeks ago, at the Underbanked Financial Services Forum, we asked people for big, wild ideas for serving the underbanked: our portfolio companies showed their strength to standing-room-only crowds, four companies battled in the Core Challenge, a modest group of Tweeters threw caution to the wind, and the largest…
Compass Principles: Moving in the Right Direction
My partner in crime, Jennifer Tescher, who runs the Center for Financial Services Innovation, is leading a bold movement to increase quality in consumer finance. High time! Here’s what she has to say: Given the high level of consumer confusion and distrust, the Center for Financial Services Innovation (CFSI) set out in…
2012 Underbanked Innovators Challenge Finalists
We received many nominations for the best innovation serving the underbanked in America. Mostly startups, but also some big companies, including banks. Mostly payments, but also credit, savings and financial capability solutions. Mostly true innovations, but also quite a few doozies. Our judges looked for true innovation, demo-ability, and also…
Are you up to the Core Challenge?
We want to shine a spotlight on the most innovative teams serving the underbanked. You could be an app developer in a dorm-room in Beloit, WI or work for one of the largest financial technology companies on earth. If you have built a product or service that works (or will…
Standards for Great Financial Services? We’re In!
Our venture fund, Core Innovation Capital, is singularly focused on investing in scalable financial technology companies that serve the American emerging market, the unbanked and underbanked. We have promised our investors (like Goldman Sachs) above market returns and we spend significant time analyzing the profit potential of each investment we…
Not Unbanked: Untapped. Underserved spend $45B on financial services
Most believe the underserved are large in numbers and small in market potential. Of course micro lenders around the world, such as Nobel laureate Grameen Bank, who serve the poor with small, market rate “business” loans have demonstrated it’s big business – and largely, good for the world. But here…
Interest in Principles?
After hundreds of billions of bailout dollars and a litany of ensuing debacles, our banks are not the pride of the nation. Bankers are more maligned than used-car salesmen, it seems. Bank regulators have been completely overhauled and the aftermath of the Consumer Financial Protection Bureau won’t be written for…