The Emergency Savings Innovation Challenge
Building emergency savings is a critical step on the path to financial security. Unfortunately, 46% of Americans don't have enough money saved to cover a $400 unexpected expense. The Federal Reserve Bank of Boston, in partnership with Commonwealth (formerly D2D Fund), invites you to attend a convening focused on opportunities to address the emergency savings problem through product innovation.
This invitation-only event will provide information to empower bank and credit union leaders to discuss the real and perceived barriers to helping consumers save small amounts of money. The day will feature an in-depth look at prize-linked savings -- the innovative approach to driving savings that has been incorporated on the Walmart MoneyCard Vault, several new FinTech apps and financial institution savings products across the country.
- Share information on the current state of savings in the region and look ahead to what is possible
- Leverage insights from disruptors to identify opportunities for innovation within savings product lines
- Expose industry leaders to Prize-Linked Savings (PLS)—an innovative method that incentivizes savings behaviors and has resulted in increased savings balances for thousands of consumers
Who Should Attend:
This event is tailored for leaders of financial institutions. C-suite executives and retail-banking decision makers would be best suited to attend.