8 New Companies are Selected for the 2017 Class FinLab Fintech in CFSI

The Financial Solutions Lab, managed by the Center for Financial Services Innovation with founding partner JPMorgan Chase announced that eight organizations has been named to the 2017 class FinLab Fintech of CFSI.

These new companies represent the most promising group of the first innovative Fintech stage that are improving the financial health of Americans. The announcement of the winners was made in front of more than 800 financial services professionals in Austin at CFSI’s EMERGE Conference.

These winners were selected from over 350 applications across the country by a panel of five industry leaders. The 8 winning companies are:

  • Blueprint Income, which offers an pension anchored in a simple, pre-determined income stream backed by insurance companies.

  • Dave, whose product alerts consumers ahead of an upcoming overdraft and can instantly advance up to $75 at 0% interest to prevent overdraft fees.

  • Eversafe is responsible  of monitoring bank and investment accounts, credit cards and credit reports, then warns the biggest consumers and their families to irregular activity.

  • Grove, offers financial advice that is accessible and affordable. Their technology efficiently creates and delivers online financial plans.

  • Nova, is a firm that has built the world’s first cross-border credit reporting agency by building data partnerships across the globe. a product that can help immigrants obtain credit.

  • Point described as “an alternative to traditional home equity loans and home equity lines of credit.”

  • Token Transit, application allowing lowincome riders have convenient access to transit passes they need. Riders are able to pay using a credit, debit, or a prepaid debit card.

  • Mañana, which offers longterm for the millennium generation or n occupies twofinancial security and working families.

Each of the eight selected winners will receive $250,000 in capital and additionally, they will receive industry expertise from CFSI and JPMorgan Chase; access to network of financial services leaders, including banks and credit unions, fintech providers, investors, etc; professional services assistance from industry leaders including ideas42,Paul Hastings, Promontory Financial Group, Bryan Cave; among others.

The company said in a statement that over the next few months they will be sharing more about the winning solutions and what the organizations are learning from participating in the Lab.

Sources: Finlab , Econotimes

Disclaimer: This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest. The opinions expressed in this article are those of the author, they do not necessarily represent infocoin views and should not be attributed to Infocoin.

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