How Tech Can Foster Financial Capability For The Underbanked

Good read…..!


Editor’s note: Mattias Kraemer is Deputy Director of Asset Building at Mission Economic Development Agency (MEDA).

In 2014, the financial services industry is looking to technology as a vital link between financial capability and under-resourced communities. Investments in these technologies are imperative to alleviate economic disparity and create better, safer options for the underbanked. Bridging the fiscal divide is a challenge we all share.

The truth is that the fundamentals of family economic success are simply not taught as core components of our public or private education systems at any level.

Until the recent creation of the Consumer Financial Protection Bureau in 2011, there was no single mandated federal government agency responsible for protecting, much less nurturing, family and consumer livelihoods.

Innovation means asking the question of how we use technology and available resources to bring to scale and make accessible the impact of financial health and coaching into our everyday lives.

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