CFSICFSI

Topics  |  Distribution

Channel opportunities like partnerships, workplace, tax time/EITC, and self service.

Research Papers

CFSI and Asset Funders Network - Financial Services and Asset-Building Brief

Millions of lower-income consumers lack access to high-quality financial products and services that simultaneously meet their short-term needs and prepare them for long-term financial success. Dramatic changes in technology, demography and the structure of the financial services industry provide new ...

Posted: December 2008

Highlights from the 3rd Annual Underbanked Financial Services Forum

by Sarah Berke, Alejandra Lopez-Fernandini, and Michaeal J. Herrmann

Having recognized the great opportunity underbanked consumers represent for financial services, participants at the Third Annual Underbanked Financial Services Forum turned their attention to better understanding this potential market. The forum, presented by SourceMedia in conjunction with the Center for Financial Services ...

18 pp.   
Posted: October 2008

Nonprofit Innovations for the Underbanked: Trends and Developments

by Shaw-Lin Chaw, Sarah Gordon, and Michael J. Herrmann

An increasing number of nonprofit organizations have entered the underbanked market as facilitators or service providers, resulting in a broader array of affordable and well-designed products and services that provide asset-building opportunities for underbanked consumers.  Nonprofit organizations are innovating in ways that ...

16 pp.   
Posted: September 2008

The CFSI Underbanked Consumer Study Fact Sheet

The purpose of the study was to conduct a segmentation analysis of underbanked and unbanked consumers based on attitudes, behaviors and experiences relative to both formal and informal financial services, products, and institutions.  Four industry leaders co-sponsored the study with CFSI: ...

Posted: June 2008

Lessons from South Africa: Innovations and Opportunities in Underbanked Services

by Jennifer Tescher and Rachel Schneider

Financial services professionals in the United States can learn a lot from South Africa. The country has a sophisticated financial services industry, with well-developed capital markets and established companies offering a wide range of personal finance products. However, South Africa also has ...

24 pp.   
Posted: April 2008

Innovation Trends in Financial Services to the Underbanked

by Michael J. Herrmann, Arjan Schütte, and Rachel Schneider
Significant discussion about underbanked consumers and the market opportunity they represent has occurred over the past several years. To meet this market opportunity, a number of startup companies have materialized with innovative products and services. CFSI has evaluated some of these ...
16 pp.   
Posted: March 4, 2008

Mobile Financial Services and the Underbanked: Opportunities and Challenges for Mbanking and Mpayments

by Katy Jacob and Caroline Boyd
This paper focuses on how mobile phones could be used to provide financial services to the underbanked in the United States. Mobile financial services (MFS) in the United States may finally be taking off, after years of lagging behind other countries. There ...
41 pp.   
Posted: April 2007

Distributing Prepaid Cards Through Worker Centers: A Gateway to Asset Building for Low-Income Households

by Katy Jacob, Janice Fine and Lauren Leimbach
A collaborative pilot program between the Center for Community Change and the Center for Financial Resources has been established to engage worker centers as a primary point-of-access to pre-paid cards for immigrant workers. The model is based on a recent survey of ...
Posted: October 31, 2006

Financial Services in the Workplace: Using Intermediaries to Achieve Long-Term Value

by Katy Jacob
The financial services landscape has changed dramatically in recent years. In order for financial services providers to acquire customers and reach emerging markets, partnerships and new distribution channels are needed. The workplace is an ideal channel for distributing financial services to potential ...
22 pp.   
Posted: November 2005

From the Margins to the Mainstream: A Guide to Building Products and Strategies for Underbanked Markets (for chapter links, see below)

The Retail Financial Services Initiative (RFSI) is a three-year project organized by NCIF that seeks to increase the quantity and quality of financial services for unbanked and low- to moderate-income consumers. Starting in October 2003, a group of banks and credit unions ...
Posted: November 11, 2005

Expanding Financial Services to Underbanked Consumers: How Tax Preparation Partnerships Can Help Bridge the Gap

by Amy Brown for the Center for Financial Services Innovation
This report discusses the opportunities that tax time presents for financial services companies. Topics of interest include stored value cards, IDA programs, alternative RALs, and retirement savings products. The report focuses on the new opportunity created by refund-splitting in the coming tax ...
17 pp.   
Posted: September 2005

Meeting Them Where They Work: The Promise of Financial Services Distribution in the Workplace

by Katy Jacob
This report outlines a variety of ongoing and emerging opportunities to distribute financial services through the workplace. The foundation for this paper is based on presentations given at the NCIF Annual Development Banking Conference, June 15-16, 2005, which included the Workplace Based ...
11 pp.   
Posted: August 2005

Utilizing Partnerships to Test Emerging Market Strategies: A Case Study of H&R Block Initiatives in Five Cities

by Katy Jacob
This report describes the evolving history and lessons learned behind partnerships created by one financial services firm—H&R Block—and a variety of public and nonprofit sector entities in urban markets around the U.S. The report is based on a series of extensive interviews ...
20 pp.   
Posted: July 2005

Marrying Financial Transactions with Asset-Building Opportunities

by Center for Financial Services Innovation
This issue brief describes the ways in which two trends—the Individual Development Account (IDA) movement and advances in financial services technology delivery—could converge to create new opportunities to link transactional financial services with asset-building opportunities.
8 pp.   
Posted: July 2005

Retailers as Financial Services Providers: The Potential and Pitfalls of This Burgeoning Distribution Channel

by Katy Jacob
Retailers, such as groceries, convenience stores and pharmacies, are emerging as significant distribution channels for a broad range of financial services. The implications are potentially revolutionary, as they call into question the definitions for terms like “branches” and “deposits.” This report analyzes ...
28 pp.   
Posted: May 2005

Employer-Based Homeownership Programs - Case Study: Community Empower Corporate Housing Assistance Program

by Katy Jacob
Describes a program that links employees of a major hotel with financial opportunities, including matched savings, financial counseling, and homeownership possibilities, using a stored value card platform.
8 pp.   
Posted: November 2004

Employer-Based Homeowenership Programs - Case Study: Affinity Lending

by Amy Brown
A case study of Affinity Lending's employer-based homeownership program that is part of a group of case studies commissioned by the Fannie Mae Foundation in mid-2004.
9 pp.   
Posted: November 2004

The PayNet Deposit Program: Check Casher-Credit Union Partnerships and the Point of Banking Machine

by Katy Jacob
This paper examines a pioneering partnership among credit unions and check cashers in New York City that offers credit union members access to their accounts through check cashing locations. The program enables credit union members to make withdrawals, deposits, and transfers directly ...
18 pp.   
Posted: October 2004