Beyond financial inclusion, a major concern for many customers is whether they can weather financial emergencies. Until recently, banks haven’t focused on assisting their customers with financial wellness, but many banks are changing their tune. In today’s Breaking Banks, and standing in for Brett King, I talk to Ryan Falvey and Rachel Schneider from CFSI about their research into what defines financial wellness.
They also discuss their work at Finlab, a joint effort with JP Morgan that fosters startups focused on financial wellness issues. Plus, I chat to James Gardiner, CTO of Spigit, about the ‘nimbility’ and the keys to innovating inside a bank, and he in turn chats to Ian Kar from Quartz about the reasons why Dwolla was fined over its data security.
– This podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Listen to more here.