MADISON, Wis. (11/26/13)--The Filene Research Institute will test four products to benefit low- and moderate-income consumers in its new financial services incubator.
The four products were selected from more than 20 submissions. An advisory panel of financial institution staff, researchers and industry analysts helped Filene choose the products.
Filene's financial services incubator was launched with a 30-month grant of $700,000 from the Ford Foundation to benefit underbanked consumers. The incubator will test, package and scale financial products that Filene deems innovative and viable to aid low-and-moderate-income U.S. consumers and provide alternatives to predatory products.
The products to be tested include: