MADISON, Wis.–The Filene Research Institute has announced it will be teaming with Visa to study how the financial services sector might better serve the needs of Hispanic, African-American and other minority households.
The effort follows data that show the proportion of Hispanic and African-American households that are ‘unbanked’ or ‘underbanked’ is 46.4% and 53.1%, respectively.
In a statement announcing the effort, Filene said it and Visa will seek to “tackle this seemingly intractable problem.”
The work will complement Filene’s current work in its Incubator and introduce a new round of product incubation in 2016 and beyond. Additional announcements will follow, Filene said.