About Us

Financial Services Innovation Coalition

Creative light bulb with drawing business strategy plan conceptThe FSIC is a growing network of Financial Services Lending Innovators, Legislators, Community Groups, and Academics who share a passion for applying emerging technology and market innovation to meet the financial services and lending needs of underserved consumers. FSIC urges the adoption of a cohesive set of state and federal regulatory standards that allow financial services innovators to offer safe and viable loans to individuals, small businesses, rural communities, and veterans.


Our Mission

More than 110 million consumers—from low- to upper-income families—have financial services needs that are not being met.  FSIC’s mission is to focus the nation’s attention on models of financial services innovation and to help enact regulatory policies that meet the credit needs of  underserved consumers.


FSIC Strategic FocusBeating all the rivals

The goal of the Financial Services Innovation Coalition (FSIC) is to build regulatory support for models of success in meeting the financial services needs of all consumers. The FSIC’s network of financial services lending innovators, legislators, community groups, and academics is united in applying technology and sound public policy to broaden the market for safe and viable financial services products and loans for individuals, small businesses, rural communities, and veterans.

FSIC supports the work, creativity and passion of a diverse group of entrepreneurs, financial services professionals and consumer advocates. Our growing coalition believes in the power of the U.S. economy to create models of financial innovation that will serve the needs of the more than 110 million consumers who cannot obtain financial services products or credit through traditional means.

Our goal is to create a regulatory on ramp that will allow financial services innovators who want to serve this growing consumer market to do so. Further, our goal is to adopt clear rules of the road that will allow financial services innovators to respond to the underserved interests of our nation’s consumers.

FSIC members believe this consumer group is too big and too important to fail.

Consider these facts…

• Since 2008, technology and venture capital entrepreneurs have invested more than $1.6 billion to serve the changing needs of consumers, but are stymied by a regulatory environment that resists innovation.

• A recent report by the National Bureau of Economic Research found that nearly half of all American families are living paycheck to paycheck and lack adequate resources to meet unexpected expenses. Today, nearly 25 percent of households with incomes above $100,000 reported that they “probably” or “certainly” could not come up with $2,000 even if given 30 days to do so.

Our objectives…

1. Offer a unified platform and voice for financial service providers to educate members of Congress, opinion leaders and others on the financial services and credit crisis facing millions of Americans.

2. Utilize technology to offer consumers flexible and compliant financial services and credit solutions that are affordable and supportive of longer-term financial stability.

3. Spur competitive and dynamic, new financial services products and credit markets that support innovation through a consistent and consumer-friendly regulatory environment.


light bulb with drawing business plan in handFSIC for Market Innovation

The FSIC works to focus attention on public, private and non-profit sector financial services innovators and the need for a responsive regulatory environment. Leaders in these diverse sectors understand that the financial services marketplace must keep pace with the changing credit needs of underserved consumers as affordable products, credit and other financing options steadily decline. Technology innovators have the passion and ability to transform the financial services market from the traditional 20th century model to a system that caters to consumers’ desire for convenience and efficiency.

At a time when market forces continue to reduce access to credit, FSIC network members remain focused on meeting the financial services and credit needs of this underserved market. The credit needs of this consumer class typically averages in the $5,000 range—a level of credit that is no longer profitable for large money center banks and a growing number of credit unions. FSIC’s network is comprised of industry and policy innovators, community groups and academics who believe that consumers of modest means deserve a range of credit and financing solutions that meet their needs at reasonable rates.


work and familyFSIC for Consumers

The FSIC works with participating member organizations, nonprofit and public policy leaders to shine a spotlight on best practices and regulatory policy changes aimed at increasing access to capital and credit for underserved consumers.

We also produce and promote sound marketplace and policy analysis that point to ‘best practices’ for this consumer class while working to promote models of success and innovation in serving this market.