Paper Summarizes Findings from Widely Praised, Sold-Out Event

CHICAGO, July 31 /PRNewswire/ -- The Center for Financial Services Innovation today released "Highlights From The Inaugural Underbanked Financial Services Forum," written by CFSI's Research Director, Katy Jacob. It is available at http://www.cfsinnovation.com/document/highlights_underbanked_forum.pdf. The paper discusses the key themes that emerged from the forum, which CFSI co-produced with Source Media, as well as additional information from a post-conference survey of the attendees. With four times the number of participants originally expected, from a broad spectrum of companies and financial services providers, the Underbanked Financial Services Forum demonstrated both the growing interest in this sector and the diversity of approaches currently in use.

"What I liked about the Forum was the wide variety of companies represented," said Danny Ayala, senior vice president and business unit manager for Wells Fargo's Global Remittance Services group. "Even those not traditionally viewed as part of the financial services industry are providing innovative means to serve underbanked consumers, which the Forum reflected. As the paper points out, this is a real business opportunity, but it is still in its earliest stage. It will require hard work, fresh thinking and new relationships to deliver on its potential. If you're interested in this market and you missed the conference, read the paper."

For more information about the conference findings, the paper, or CFSI's work furthering underbanked strategy and programs across the financial services spectrum, please contact Jessika Osorio, CFSI's Communications coordinator, at 312-881-5864, josorio@cfsinnovation.com.

About CFSI:

The Center for Financial Services Innovation, an affiliate of ShoreBank Corporation capitalized by The Ford Foundation, facilitates financial services industry efforts to serve underbanked consumers across the economic, geographic and cultural spectrum. It provides funding and resources, enables partnerships, and identifies, develops and distributes authoritative information on how to respond to the needs of the underbanked profitably and responsibly. CFSI works with banks, credit unions, technology vendors, alternative service providers, consumer advocates and policy makers to forge pioneering relationships, products and strategies that will transform industry practice and the lives of underbanked consumers. For more on CFSI, go to http://www.cfsinnovation.com.

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Source: The Center for Financial Services Innovation
 
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