Since 2004 CFSI has invested (directly or through limited partnerships) in leading underbanked financial services innovators. Entrepreneurs seeking investment capital should contact CFSI's strategic partner, Core Innovation Capital, at www.corevc.com.
L2C, Inc. is a leading provider of advanced customer identification and risk assessment solutions. With L2C's broad access to alternative credit data and advanced analytics, lenders can make more precise risk management and marketing decisions across the entire applicant pool and throughout the customer lifecycle. Our tools and data allow lenders to identify and profitably serve an estimated 88M additional consumers whose creditworthiness cannot be determined using only credit bureau information. L2C’s services also allow lenders to proactively and fairly manage existing customer risks and relationships -- and to do it more effectively than with credit bureau-only tools. L2C scoring is currently available through credit bureaus and resellers, or it can be quickly integrated directly to client systems with minimal investment. This flexibility allows lenders to rapidly target a profitable, yet vastly underserved population, and gives responsible individuals access to the credit they need.
In late 2009 MicroBilt Corporation acquired Pay Rent Build Credit, Inc. (PRBC). Read more about the acquisition here.
Progress Financial is a leading financial services company serving the needs of the growing Hispanic market. Under the name Progreso Financiero, the company offers unsecured credit to Hispanic families that lack FICO scores and established banking relationships. Using proprietary models, Progress has developed innovative ways to assess credit risk among Hispanic consumers and in turn, can lend money at fair rates and lower losses. In addition to its non-traditional scoring methodology, the company interacts with customers in familiar neighborhood settings, offers loan contracts in Spanish, and requires frequent, in-person payments to maintain a high-trust relationship with its borrowers. Progress’ mission is to help its customers build credit in the U.S. and gain access to better lives and mainstream financial services.The company’s principals come from highly respected companies, namely Bain & Company, Bank of America, McKinsey, and Morgan Stanley, and graduated from top universities, including MIT, Harvard, Stanford, and Yale.
The "TIO Network" is the largest national multi-retailer network of self-service financial service kiosks in North America. Services offered under the TIO brand umbrella are tailored specifically towards the non-banked consumer marketplace. The TIO brand provides a beacon that symbolizes fair, convenient and secure access to financial services for non-banked consumers. With 6 top tier corporate owned convenience store chains participating, the TIO brand symbolizes safe secure access to key financial services. Since CFSI's investment, Tio Networks has expanded its network of financial services kiosks to over 2000, and extended its service options beyond bill payment to include prepaid card issuance and reloading as well as credit building features. CFSI also supported TIO's development by helping it build business alliances, including its partnership with NetSpend, as well as showcasing it as BAI Retail Delivery 2005. TIO was one of 14 finalists in Citi-Ashoka’s Changemakers Competition: Banking on Social Change—Seeking Financial Solutions for All.