Exchange 2021 Grant Challenge – advancing finhealth for households navigating the criminal justice system. Apply by June 30 >>
 Improving the Financial Health of Justice-Involved Individuals
2021 Exchange Challenge

Improving the Financial Health of Justice-Involved Individuals

The 2021 Exchange Challenge will focus on nonprofit-fintech partnerships that can advance the financial health of justice-involved individuals and families navigating fines, arrests, detainment, and/or incarceration. With expertise and advisory support from Credit Builders Alliance, we are now accepting applications.

Submit your partnership’s application by June 30, 2021.

Apply Now

Partnerships to Advance the FinHealth of Justice-Involved Individuals

For the 2021 Exchange Challenge, grants will be awarded to support emerging and existing partnership solutions that address the financial health challenges faced by justice-involved individuals and their families, including: 

  • Paying for pretrial costs, such as bail
  • Covering in-prison costs, such as communications and commissary expenses
  • Managing legal financial obligations such as fines and fees
  • Establishing a bank account
  • Achieving credit visibility
  • Securing access to affordable credit to assist with entrepreneurship and other goals

Partnerships to Advance the FinHealth of Justice-Involved Individuals

The Role of Innovation

While policy solutions are critical to reform our criminal justice system, we know that the nonprofit and fintech sectors can play a role in better serving those impacted by the system. We’ve seen the innovation already occurring across the country, and we want to support and lift up that work. The time is right for innovation that can advance the financial health of justice-involved individuals, their families, and their communities. Read our blog “Opportunities for FinHealth Innovation and Impact in Criminal Justice” for more details on the need for innovative solutions to the challenges justice involved families face.

Who Should Apply?

We are looking for emerging or existing partnerships between fintechs and nonprofits, including nonprofit Community Development Financial Institutions, who are interested in piloting or prototyping solutions, product designs, or program enhancements that will allow them to better serve justice-involved individuals and their families. We welcome applications from emerging or existing nonprofit-fintech partnerships working on:

  • Fintech Distribution: A nonprofit integrates a fintech tool into its existing program to increase engagement and impact.
  • Nonprofit Referral: A fintech integrates or refers customers to relevant nonprofit services.
  • Systems Enhancements: A nonprofit implements fintech systems or tools to enhance back-end systems or operational processes.
  • Insights and Design: A fintech engages a nonprofit to receive design input into new products and features.

For more information on the types of partnerships we are seeking, view our 2020 Exchange Challenge grant recipients and read our full application criteria.

Read the Application Criteria
Who Should Apply?
What Will Grantees Receive?

What Will Grantees Receive?

  • $50,000 per innovative nonprofit-fintech partnership (up to five grants will be awarded)
  • A forum to engage and learn with other nonprofits and fintechs in your cohort
  • Technical guidance to on project execution

Timeline

April 1, 2021: Applications open
May 13, 2021: Fastpitch Event
June 30, 2021: Applications due
July – September 2021: Selection period
October 2021 – June 2022: Grant program runs

Apply Today
Timeline
Explore Partnerships and Share Ideas at our Virtual Fastpitch

Explore Partnerships and Share Ideas at our Virtual Fastpitch

Interested in learning more about the grant program and meeting potential grant partners? Join the Exchange’s upcoming Virtual Fastpitch on May 13. 

  • Meet fellow fintechs and nonprofits and discuss high-impact collaborations
  • Hear from peers pitching their grant project ideas and find a partner for your application
  • Discuss approaches to creating financial health among justice-involved individuals and their families

Save Your Spot

Ready to Apply?

Review criteria and instructions as you prepare to submit your application.

Apply Now

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