Improving Benefits Systems With Nonprofit-Fintech Partnerships: 2022 Exchange Challenge
The 2022 Exchange Challenge focuses on nonprofit-fintech partnerships that can advance financial health for people navigating benefits systems.
Blog Post
When fintechs and nonprofits work together, they can offer a powerful combination of well-designed tech solutions and supportive relationships with trusted partners to improve financial health.
By supporting nonprofit-fintech partnerships, we advance a more inclusive fintech landscape, with products more likely to be designed for and delivered to underserved and financially struggling communities while enhancing the capacity of nonprofits to serve their 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, twenty-one cutting-edge partnerships have received more than $1.1 million 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.
The nonprofit and fintech sectors are often siloed and may struggle to identify and execute on opportunities for mutually beneficial partnerships that can advance financial health. The Exchange provides programming, newsletters, and grant funding specifically aimed at fostering and supporting collaboration between the two sectors, proving that these partnerships can work and can drive impact on financial health outcomes.
The 2022 Exchange Challenge is focused on nonprofit-fintech partnerships that can advance the financial health of those navigating public or private benefits systems.Â
The selection process is underway and we are no longer accepting applications. Grantees will be announced later this year – learn more about the Challenge and check back for updates.
The 2022 Exchange Challenge focuses on nonprofit-fintech partnerships that can advance financial health for people navigating benefits systems.
Change Machine and NALCAB share some key takeaways for nonprofit practitioners and fintech providers who are committed to reducing the digital divide.
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