Filene Research Institute is launching a financial incubator to serve the financially underserved thanks to a $700,000 grant from the Ford Foundation.
The 30-month grant, the largest ever received by Filene, will enable the institute to test, package and scale innovative, viable financial products that benefit low- and moderate-income U.S. consumers.
"This grant enables Filene to launch an accessible financial services incubator to test products that counter the alternative financial sector practices detrimental to the wallets of America's hard working households," said Mark Meyer, CEO of Filene.
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