Can fintech truly change the financial system for good?
Timothy Flacke, Commonwealth
Financial technology (fintech) promises transformational change to the financial system, including increasing financial inclusion, helping people become more financially secure, and influencing policy to drive systemic change. Fintech providers often claim their lean, data-driven, consumer-centric approach will reduce fees, simplify decision making, expand access and improve household finances. But can they overcome privacy and security concerns, the digital divide, and inherent biases in data to avoid exacerbating existing financial divides and achieve scale? An investor, a for-profit fintech provider, and nonprofit fintech leaders will share their perspectives about whether fintech’s promises to increase financial security are real or just hype.
digital divide, Financial Inclusion, fintech, wealth gap.
Leigh Phillips - Chief Executive Officer, EARN Jimmy Zhu - Venture Investing, Citi Ventures.
A for-profit fintech provider (to be determined)
SaverLife, a fintech platform to drive savings from EARN: https://www.saverlife.org/ The Gamification Effect, an article by Commonwealth: https://buildcommonwealth.org/news/post/the-gamification-effect-using-fun-to-build-financial-security