We believe that finance can be a force for good in Americans’ lives, and that innovation should be sought out and rewarded.
Who we are
The Financial Solutions Lab is managed by the Center for Financial Services Innovation with founding partner JPMorgan Chase & Co.
The Financial Solutions Lab is a program that seeks to identify, test and bring to scale promising innovations that help Americans increase savings, improve credit, and build assets.
The Center for Financial Services Innovation (CFSI) is the nation’s authority on consumer financial health. CFSI leads a network of financial services providers committed to building a more robust marketplace of higher quality financial products and solutions, making financial health attainable for more Americans.
Financially healthy individuals increase the stability and resiliency of their communities. That’s why JPMorgan Chase is proud to be the founding partner of the Financial Solutions Lab – committing $30 million over five years and our expertise in financial services to maximize our impact.
Why we are here
The Financial Solutions Lab is a virtual laboratory for anyone who uses technology to improve Americans’ financial health. Lab participants share a relentless focus on building products and services that embrace inclusion, build trust, promote success, and create opportunity, and which solve important financial challenges that Americans face.
Over the next five years, we will create challenges and rewards for innovative entrepreneurs, companies, and nonprofits building solutions for the issue areas we highlight. We will grow an ecosystem of fintech innovators that will catalyze impact on the lives of everyday Americans.
Goals of the Lab
We want more entrepreneurs to create products that improve the financial health of consumers.
We want products that better serve the needs of low and moderate-income households.
We want products that effectively serve millions of consumers.
The Lab has been truly catalytic for us. Our goal has always been to partner with major financial institutions to help them restructure their customers' debt. The beauty of FinLab is that we are able to get insights from the greatest consumer lab out there. …We have the ability to go out to a broad array of service providers in the financial services space that we probably wouldn't have known about.„Jerry Nemorin Co-Founder and CEO
Center for Financial Services Innovation
CFSI Board of Directors
Core Innovation Capital
Cities for Financial Empowerment Fund
Corporation For Enterprise Development
Oak Investment Partners
University of Michigan
Our strategic partners support FinLab participants through an 8-month program of introductions, mentorship and technical assistance to improve products, build stronger companies and raise national awareness.
Human-centered design will help Lab participants develop strategies, identify growth opportunities, and increase impact
Use principles of behavioral science to design and scale innovative solutions while increasing effectiveness of products