Partnerships to Advance the FinHealth of Justice-Involved Individuals

For the 2021 Program, the Exchange is providing grants that support emerging and existing partnership solutions that address the financial health challenges faced by justice-involved individuals and their families. Challenges faced by the justice-involved include:

• 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

What Solutions are Needed?

Through this Challenge we aim to identify 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.

• 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.