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CFSI Announces New Participants of Its Innovators and Responsible Credit Roundtables.

Joint Session of Roundtables Meet Today to Continue Progress on Underbanked Strategies

CHICAGO -- CFSI's Innovators and Responsible Credit Roundtables meet today in Chicago, joined by four new participating organizations, Green Dot Corporation, Meta Payment Systems, LexisNexis Risk & Information Analytics Group, and NetSpend. This convening marks the second time these groups have met together to move forward on developing innovative ways to serve underbanked consumers.

"I am pleased that we are able to continue to grow these tables and help facilitate the improvement of products and services for the financially underserved," said Kimberly Gartner, CFSI Associate Director. "Addressing the needs of underbanked consumers, especially now during this turbulent economic time, can deliver broad, long-term change throughout the financial services landscape by creating mutual benefit for both the underbanked and the companies that serve them."

The focus of the meeting will be on obtaining new insights into the impact the current economic environment has on consumers, exploring emerging opportunities around savings products, learning how companies are using alternative data for account management and risk mitigation, continuing to advance efforts around prepaid strategies and other underbanked efforts, and deepening awareness of company experiences and exchange perspectives.

Guest speakers include Ellen Seidman, Senior Fellow of the New America Foundation and CFSI Board Chair, and Mike Mondelli, CEO of L2C Inc. Jennifer Tescher, CFSI's Director, and other members of CFSI's executive team will also address the meeting.

"Green Dot is pleased to participate with CFSI in developing innovative and worthwhile products and services for American's whose needs are not fully met by traditional financial service providers," states Steve Streit, CEO and Founder of Green Dot Corporation. "The CFSI Innovators Roundtable is a helpful forum where industry leaders can focus on the needs of financially underserved consumers in an effort to better serve this valuable consumer group."

"CFSI's invitation to join the Responsible Credit Roundtable will be invaluable as we continue to expand the iAdvance product offering and disrupt small-dollar, consumer lending," said Trent Sorbe, Senior Vice President of Credit at Meta. "The interaction with other innovative companies and experts at CFSI will allow us to better understand the underserved consumer and perfect our Simple, Sensible Credit message."

Innovators Roundtable participants include: Citi, Fidelity National Information Services, Experian, GE Money, Green Dot Corporation, H&R Block, Mastercard, NetSpend, US Bank, Wal-Mart and Wells Fargo. Responsible Credit Roundtable participants include: Bank of America, Capital One, Experian, the Federal Reserve Bank of Minneapolis, LexisNexis Risk & Information Analytics Group, Meta Payment Systems, Take Charge America, US Bank, Visa and Wells Fargo.

CFSI's roundtables unite players from across the financial services industry to generate new information, ideas, products and strategies to better serve the underbanked. All make financial investments and participate in twice yearly meetings, as well as research and market-testing projects. For more information about CFSI's roundtables, visit http://www.cfsinnovation.com/roundtables.php.

About CFSI:

The Center for Financial Services Innovation is the nation's leading authority on financial services for underbanked consumers. Since 2004, its programs have focused on informing, connecting, and investing - gathering enhanced intelligence, brokering and supporting productive industry relationships, and fostering best-in-class products and strategies. A non-profit affiliate of ShoreBank Corporation, CFSI works with leaders and innovators in the business, government and non-profit sectors to transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.com.
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Publication:Business Wire
Date:Apr 29, 2009
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