1. ©CFSI, 2011. Not for distribution The Shift to Financial Capability: Spurring Innovation and Behavior Change FDIC Advisory Committee on Economic Inclusion June 2, 2011

2. ©CFSI, 2011. Not for distribution What we know

3. ©CFSI, 2011. Not for distribution What we do

4. ©CFSI, 2011. Not for distribution What we know

5. ©CFSI, 2011. Not for distribution What we do

6. ©CFSI, 2011. Not for distribution What we know

7. ©CFSI, 2011. Not for distribution What we do

8. ©CFSI, 2011. Not for distribution Access: Financial Products, Services, Experiences Text/Email In-Line Messaging Educational Gaming Personal Financial Management Tools Social Media Seminars Classroom Education Online Curricula What we’ve been doing: Credit Counseling Financial Coaching From Financial Education to Financial Capability

9. ©CFSI, 2011. Not for distribution Real-Time Education: The Aspiration A CCESS + I NFORMATION C ROSS -S ECTOR P ARTNERSHIPS B EHAVIORAL E CONOMICS L EVERAGING T ECHNOLOGY

10. ©CFSI, 2011. Not for distribution A CTIONABILITY Info/EducationReferralDistribution Service Provision Access + Education

11. ©CFSI, 2011. Not for distribution  13% involved new/existing online financial education curriculum  8% involved text alerts, 4% email alerts  13% involved social media, mostly Facebook  5% proposed building new online platforms to provide education and products while 5% utilized existing personal financial management platforms Promising projects leveraged technology to improve the customer experience or to enhance the provider’s efficiency. Leveraging Technology

12. ©CFSI, 2011. Not for distribution Applying Behavioral Economics 9% of proposals mentioned behavioral economics

13. ©CFSI, 2011. Not for distribution E DUCATION + A CCESS TO P RODUCTS for most nonprofits, that means strategic partnerships Financial Service Provider Partners Banks56% Credit Unions28% Other (credit bureaus, prepaid card companies, remittance companies, etc.)41% Note: Many organizations had multiple financial service providers as partners. 96% of proposals involved partnerships  85% - nonprofits partnering with for- profits, mainly financial institutions Partnerships

14. ©CFSI, 2011. Not for distribution Recommendations 1. Innovate: Use competitions to seed innovative approaches to financial capability that marry access and information. Evaluate new approaches to determine what works. 2.Scale: Provide tools and funding to replicate the approaches that work best. 3.Leverage: Build from existing government-driven touch points, such as tax time and benefits payments. 4.Lead: Use the bully pulpit of government to motivate fresh thinking and action.

15. ©CFSI, 2011. Not for distribution The Center for Financial Services Innovation 2230 S. Michigan Ave., Suite 200 Chicago, IL 60616 www.cfsinnovation.com Jennifer Tescher, President & CEO 312-881-5818 jtescher@cfsinnovation.com