We've got a big announcement

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Dear friends and supporters,

Let’s be honest: not all fintech is created equal. If we really want to move the needle for people living on low-to-moderate incomes, we need financial technology that works for them, not against them. We need products that are built to fit their lives and work for their financial circumstances — ?products where success is measured by how well they actually improve the financial health of people living on low-to-moderate incomes.

Fortunately, in today’s tech-driven world, there’s no reason why fintech products can’t meet people where they are — no matter what kind of financial health journey they’re on. It just takes a concerted effort to use technology as a means to open up new paths to financial health and a commitment to measuring our progress against tangible financial health outcomes.

That’s why today I’m excited to share a bold new initiative that will engage SaverLife members and dig deep into the impact that fintech is having on consumers living on low-to-moderate incomes. With generous support from the Bill & Melinda Gates Foundation, we seek to better understand our members’ experiences with fintech products and services like digital banking and payment platforms; Buy Now, Pay Later (BNPL); and Earned Wage Access (EWA) products and to make recommendations on what works and what doesn’t when designing for financial health.

We’ve convened an advisory panel of innovative leaders in the financial field who will help guide the research and disseminate the insights. I am grateful for the energy and dedication of this group and am pleased to announce that this collaborative will include the following individuals*:

• Daniel Barker, President and CEO of Halcyon
• Brian Gilmore, Vice President, Commonwealth
• Aras Jizan, Senior Program Officer, Economic Mobility & Opportunity, US Programs, Bill & Melinda Gates Foundation
• Laura MacCleery, Senior Director, Policy and Advocacy, Unidos US
• Delicia Reynolds Hand, Senior Director, Digital Marketplace, Consumer Reports
• David Silberman, Senior Advisor, Financial Health Network
• Jeff Stoltzfoos, VP Government and Public Affairs, Chime
• Ky Tran-Trong, Vice President and Associate General Counsel, Global Risk and Regulatory Affairs, Visa Inc.
• Sara Weiss, VP, Director of Research; Center for Responsible Lending

We know that our collective work will generate new insights and opportunities to improve the financial health future of the LMI community. As always, ?we will share our findings and engage in new partnerships to accelerate our impact for a better and more equitable financial system.

Will you join us as we take the next steps forward?

Cheers,

Leigh