North Texas: Catalyzing INCLUSION: Financial Technology (Fintech) & the Under-served

Fintech has enormous potential to expand financial health and inclusion, especially for low- and moderate-income individuals and families. This important opportunity can lower costs, improve transparency and convenience, and give consumers greater control over their finances.

However, expanding fintech to meet the needs of low-income consumers is not inevitable. Nonprofit, public, and private sector actors will need to collaborate in order to prioritize inclusive development within the financial services sector.

North Texas Asset Funders met on October 4 to learn about insights and opportunities to catalyze fintech. We also discussed the role of nonprofits and philanthropy in the promising global trend that is expanding financial inclusion: fintech – the use of innovative technology that connects consumers to digital financial service platforms such as online and mobile banking.

Where:

United Way of Metropolitan Dallas, 1800 North Lamar Street

When:

October 4 from 8:30 am – 10:30 am
(registration and networking from 8:30-9; program from 9 – 10:30)

Speakers included the following:

We welcomed speaker Jess Dorrance, University of North Carolina, Center for Community Capital, to the event to share her expertise and perspective on successful models of fintech inclusion. Jess Dorrance leads much of the center’s evaluation work in financial inclusion, financial capability, and asset-building. She conducts research and analysis to understand what products and programs promote economic security and mobility for low-wealth households and communities. She is particularly interested in opportunities for households to build savings, and in the intersection of financial, physical, and emotional health. Recent projects include an evaluation of the Financial Solutions Lab, a program aimed at identifying and scaling financial innovations that can improve American’s financial lives; Neighborhood Trust’s PayGoal product, a cash flow management and financial advising tool; MAGIC Mojo, an impulse savings tool linked to a prepaid card; and data analysis for CFSI’s small dollar credit working group. Jess holds a bachelor’s degree in sociology from Skidmore College and a master’s degree in public administration from UNC Chapel Hill.