NEW YORK – Inclusiv has introduced the Financial Inclusion Technology (FIT) Center, which it said is designed to expand financial inclusion in member credit union communities.
“The FIT Center will provide information about, and access to, technology solutions designed to meaningfully, measurably, and sustainably increase access to safe and affordable financial services in low-income communities and communities of color,” Inclusiv said.
According to the organization, the Inclusiv FIT Center will house several targeted initiatives to fulfill this mandate, including the Inclusiv FIT Council, fintech and research partnerships, and Inclusiv’s data analytics work.
“Formerly known as the Inclusiv Innovation Council, the Inclusiv FIT Council brings together technologists and innovators from our member credit unions who work to identify, evaluate, and promote innovative products and services that enable Community Development Credit Unions (CDCUs) to increase financial inclusion in underserved communities,” Inclusiv said. “Quarterly FIT Council meetings foster a collaborative environment to analyze emerging tech trends. Additionally, FIT Council members also help Inclusiv to evaluate new technology products and services throughout the year.”
Testing to Take Place
Inclusiv added that in partnership with mission-aligned fintechs and research organizations, the Inclusiv FIT Center will test the impact of emerging innovative technological solutions.
“These pilot projects, such as our Building Emergency Savings initiative in with Common Cents Lab at Duke University and VisiFI, aim to demonstrate how the practical application of emerging technology can increase financial inclusion and improve the financial health of low-and-moderate income individuals,” Inclusiv said.
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