When fintechs and nonprofits work together to build financial health, they can offer a powerful combination of well-designed tech solutions and supportive relationships with trusted partners to build financial health.
Supporting nonprofit-fintech partnerships can advance a more inclusive fintech landscape, with products more likely to be designed for and delivered to underserved and financially struggling communities.
The Exchange serves as a meeting place for interested nonprofit and fintech providers to explore collaboration and swap insights on how to build high-impact partnerships. More than 200 fintechs and nonprofits currently participate in the program. To date, sixteen cutting-edge partnerships have received more than $850,000 through the Exchange’s grant program.
The Financial Health Network has a long track record of supporting nonprofit innovation and cross-sector collaboration, which includes the 2017 launch of the Nonprofit-Fintech Exchange. As the Exchange grew and evolved, its mission of fostering successful nonprofit and fintech partnerships came to align with the work of the Financial Solutions Lab. In 2020, the Nonprofit-Fintech Exchange became the Financial Solutions Lab Exchange.
Key Milestones
2010: the Financial Health Network’s Financial Capability Innovation Fund provided financial support and technical assistance to nonprofits innovating new approaches for building the financial capability of underserved consumers.
2013: the Financial Health Network partnered with lnclusiv on the Financial Capability Partnership Initiative to explore distribution partnerships between community organizations and credit unions.
2017: the Financial Health Network launched the Nonprofit-Fintech Exchange to build on this history by providing technical assistance and grant funding.
2020: the Nonprofit-Fintech Exchange was formally brought under FSL, becoming the Financial Solutions Lab Exchange, to expand its work fostering successful collaborations between nonprofits and fintechs.
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