Community Advisory Board serves as an important voice of leading consumer groups, CDFIs, and academic leaders within AFC to help further promote responsible innovation

Driving change through dialogue, leadership, and action, the Aspen Institute Financial Security Program will add a critically important voice to engage in meaningful dialogue around timely and pressing issues

Washington, D.C. (March 20, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks delivering critical access to safe and affordable financial services, is proud to announce that the Aspen Institute Financial Security Program (Aspen FSP) has joined the AFC Community Advisory Board (CAB). The CAB was formed to expand and inform AFC’s mission to promote policies that advance responsible innovation and inclusivity within financial services. Building on AFC’s previous decision to join Aspen FSP’s call for a national strategy for financial inclusion, AFC brings the unique expertise of Aspen FSP to its CAB.

“As a standards-based association, the members of our Community Advisory Board serve a critical role to ensure our advocacy remains focused on consumer access to safe and affordable financial options,” said Phil Goldfeder, Chief Executive Officer of the American Fintech Council. “The Aspen Institute Financial Security Program is a pragmatic thought leader on financial inclusion issues, recognizing the importance of the role of innovative, tech-forward financial services in meeting the needs of underserved consumers. We are truly excited to collaborate with Aspen FSP to improve financial security and inclusion, especially for those historically excluded communities.”

In order to help AFC guide the fintech industry as a force of responsible innovation that reaches underserved communities, the AFC established a Community Advisory Board of consumer advocates, CDFIs, and academic organizations. Founding members include the Woodstock Institute, Capital Good Fund, and Accion Opportunity Fund in addition to many others.

“As we work at FSP to illuminate and solve the most critical financial challenges facing American households, it will take leadership from the financial services industry, old and new, to create and deliver quality, sustainable financial products,” said Kate Griffin, Director of Programs at the Aspen Institute Financial Security Program. “We’re honored to be included on the Community Advisory Board and work with AFC to make financial security for all a top national priority and to advance a more inclusive financial system.”

Although they do not necessarily endorse AFC member products or policy positions, the Community Advisory Board members collaborate with AFC and members to advance a more responsible, inclusive, customer-centric financial system. These shared goals are advanced through dialogue to foster improvements in law, regulation, and business practices that drive positive consumer outcomes.

AFC’s mission is to promote an innovative, transparent, inclusive, and customer-centric financial system by supporting the responsible growth of lending, fostering innovation in fintech, and encouraging sound public policy. AFC members are at the forefront of fostering competition in consumer finance and pioneering ways to better serve underserved consumer segments and geographies. Our members are also improving access to financial services and increasing overall competition in the financial services industry by lowering the cost of financial transactions, allowing them to help meet demand for high-quality, affordable financial products.