Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Financial Solutions Lab 2021 Accelerator Cohort to Improve Financial Resilience and Growth for Underserved Communities in Wake of Pandemic and Beyond

Published

3 years ago

on

Chicago, IL, May 25, 2021 (GLOBE NEWSWIRE) — The Financial Solutions Lab, an initiative launched and managed by the Financial Health Network in collaboration with founding partner JPMorgan Chase & Co. and with support from Prudential Financial, today announced that it has selected eight organizations for its 2021 Accelerator program. The companies selected for this year’s cohort include Daylight, Esusu, Everyday Life, Home Lending Pal, Leap Fund, Lifesaver, Sigo Seguros, and Upsolve.

Now in its seventh year, The Accelerator is an eight-month program that invests in a cohort of companies annually who align with a specific financial health focus area and serve populations facing acute and persistent financial health challenges. The 2021 Accelerator cohort companies are focused on expanding financial resilience and growth for individuals and communities most impacted by the pandemic. In particular, the fintech offerings from this year’s cohort companies will help expand access to, and usage of low-cost or free credit, insurance, digital banking, and asset building solutions that serve low- to moderate-income (LMI) individuals and Black, Latinx, and LGBT+ communities. 

Each organization in the Accelerator cohort will receive $125,000 in capital from the Financial Solutions Lab; access to the Financial Health Network and partnership opportunities that can help innovators increase product reach; one-on-one ongoing mentorship and expertise provided by the Financial Health Network, JPMorgan Chase, and Prudential Financial executives as well as other industry leaders; and peer learning via virtual retreats and working sessions throughout the year.

“The challenges of the pandemic have been distributed unequally – LMI individuals, women, and people of color are coming out of this period in a more financially precarious position than they were a year ago,” said Hannah Calhoon, vice president, Innovation, Financial Health Network. “To help them rebuild and further strengthen their financial lives requires solutions that are targeted to their needs and meet them where they are. This year’s cohort is made up of organizations that are deeply aware of and committed to the needs of the communities they serve, and we’re excited to support them on their journey.” 

According to the 2020 Financial Health Pulse, two-thirds of Americans are not financially healthy, and COVID-19 and the economic downturn has exacerbated widening financial health disparities by income, race, and gender. This year’s Accelerator cohort builds on the program’s 2020 focus to improve the financial lives of LMI workers and students who faced financial hardship due to the pandemic. The 2021 cohort was selected for their potential to help individuals better navigate financial instability, build long-term financial security, and access higher quality, more affordable financial services and solutions. 

“The pandemic has exacerbated the growing financial health gap in the U.S. and impacted the resiliency and wellbeing of households across the country,” said Sarah Willis Ertur, director of Financial Health at JPMorgan Chase. “To help promote an inclusive and equitable economy, we are committed to continuously supporting innovative solutions that advance the financial health of underserved communities in the ways and with the tools that matter most to them.”

According to the JPMorgan Chase Institute, Black and Latinx families have 32 and 47 cents in liquid assets, respectively, for every $1 held by White families. The Financial Solutions Lab believes that companies committed to principles of diversity, equity, and inclusion at all levels of their organizations are best equipped to deliver innovative and responsive solutions to vulnerable and underserved populations. The Accelerator aims to support founders from underrepresented communities and those building solutions designed for underserved consumers. The solutions provided by this year’s cohort companies have the potential to address needs across many historically underserved markets. In particular, the cohort companies were selected for their ability to help navigate systems that can have an impact on financial health, and because they can provide culturally relevant advice and products tailored to Black, Latinx, and LGBT+ communities. 

“Right now, financial resilience is more critical than ever to help American consumers move past the devastating impacts of the pandemic,” said Sarah Keh, vice president, Prudential Inclusive Solutions. “Supporting this cohort of burgeoning fintech companies who have purpose-driven missions will mean more inclusive products targeted towards underserved communities. As we look to solve the financial challenges of our changing world, we’re thrilled to support these innovators who are helping to drive economic mobility for the communities most impacted.”

The 2021 cohort companies by area of focus are:

Credit:

  • Esusu (New York, NY) offers a financial technology platform that empowers tenants and improves property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost renters’ credit scores. This allows renters to build and establish their credit scores while helping property owners increase revenue, prevent evictions, and fill more vacancies powered by differentiated data and insights.
  • Upsolve (Brooklyn, NY) is a nonprofit that empowers low-income and working-class families navigating financial distress to file for bankruptcy for free using an online web app, without needing to afford a lawyer or legal fees. To date, Upsolve has relieved over $300 million in debt for families suffering from medical bills and job loss by providing free access to bankruptcy and legal assistance, and financial education.

Insurance:

  • Everyday Life (Boston, MA) removes barriers to buying life insurance, including high premiums, complicated products, and opaque underwriting, enabling more people to protect their families with life insurance coverage. They’re on a mission to provide life insurance for everyone who needs it by saving people money with personalized policies that automatically adjust as their needs change.
  • Sigo (Jersey City, NJ) provides a mobile-first platform that delivers affordable access to auto insurance customized for Latinx, immigrant, and working-class customers. Their offering is fully bilingual and their underwriting process does not use credit score, employment, or education.

Digital Banking:

  • Daylight (New York, NY) is the first and only digital banking platform designed specifically for the more than 30M LGBT+ people living in the U.S. Daylight helps members prepare for the future faster with planning tools, social savings tools, and a community feed, all tailored for the unique life events faced by the LGBT+ community, including gender transitions, family planning, and buying a home.
  • Lifesaver (New York, NY) enables credit unions and community banks to provide an advanced mobile banking experience for their customers. Through Lifesaver, consumers gain expanded visibility into their banks’ offerings and access to a wider set of additional financial management tools focused on financial health.

Asset Building:

  • Home Lending Pal (Orlando, FL) uses artificial intelligence and blockchain to improve the mortgage lending process for consumers, with a focus on underserved first-time home buyers. Utilizing standard underwriting information, AI tools evaluate customers’ financial situations, simulate underwriting and, upon their request, match them with prospective lenders. Home Lending Pal’s blockchain network gives borrowers control of their data and ensures a smooth, transparent approval process for all stakeholders by using smart contracts. 
  • Leap Fund (New York, NY) is a nonprofit that helps public benefits recipients navigate benefits cliffs (becoming ineligible for public benefits due to an increase in wages or hours worked). Leap Fund accomplishes this by empowering workers to identify and avoid cliffs, and ultimately aims to eliminate benefits cliffs altogether, all while creating pathways towards self-sufficiency and financial independence.

Now in its seventh year, the Financial Solutions Lab has grown to become one of the top fintech accelerators in the country – and one of the few focused on financial health. Companies selected for FSL programs continue to receive value even after their programs have concluded. Through ongoing engagement, Even, from the 2015 Accelerator cohort, piloted an employer channel offering with FSL that led to its product being deployed to more than 1.4 million employees. Propel, from the 2015 Accelerator cohort, used the deep expertise of the Financial Health Network and JPMorgan Chase to navigate industry pain points and dramatically grow their business to more than five million Americans. 

About the Financial Solutions Lab

The Financial Solutions Lab is a $60 million, 10-year initiative managed by the Financial Health Network in collaboration with founding partner JPMorgan Chase & Co. and with support from Prudential Financial. The Financial Solutions Lab’s mission is to cultivate, support and scale innovative ideas that advance the financial health of low- to moderate-income (LMI) consumers and historically underserved communities. The programs the Financial Solutions Lab offers to execute on this mission include the Accelerator, now in its seventh year as one of the top fintech accelerators in the country and one of the few focused on financial health; the Exchange, a meeting place for interested nonprofit and fintech providers to explore collaboration and swap insights on how to build high-impact partnerships; and the Collaborative, which is focused on identifying and exploring innovative solutions to unmet financial health needs. For more information, visit http://finlab.finhealthnetwork.com/. 

###

Attachment 





 





Related Topics:













 











GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.



















Continue Reading






















Artificial Intelligence


Department of Health – Abu Dhabi partners with MBZUAI and Core42 to launch Global AI Healthcare Academy





 






Published
 1 hour ago 
on
 May 13, 2024





By
  











department-of-health-–-abu-dhabi-partners-with-mbzuai-and-core42-to-launch-global-ai-healthcare-academy 






ABU DHABI, UAE, May 13, 2024 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), the regulator of the healthcare sector in the Emirate, signed a Memorandum of Understanding (MoU) with Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), the leading AI research-based academic institution located in Abu Dhabi, and Core42, a G42 company offering AI solutions, during Abu Dhabi Global Healthcare Week (ADGHW). This MoU will launch the global AI Healthcare Academy to the health workforce. The MoU was signed by Dr. Rashed Obaid Al Suwaidi, Executive Director of Healthcare Workforce Planning Sector at DoH, Sultan Al Hajji, Vice President of Public Affairs and Alumni Relations at MBZUAI and Talal Al Kaissi, Executive Vice President, Chief Product and Global Partnership Officer at Core42.


 

 

Reinforcing Abu Dhabi’s position as a leading destination for healthcare and life sciences, the partnership seeks to establish a framework of collaboration to strengthen the Emirate’s position at the forefront of technology-enabled and data-driven healthcare systems. The new AI Healthcare Academy will help to build a global AI-trained workforce, which is capable of advancing diagnostic and operational efficiency, significantly improving patient care, and streamlining healthcare processes around the world.

Sultan Al Hajji, Vice President of Public Affairs and Alumni Relations at MBZUAI, said: “Healthcare is a key research pillar for MBZUAI, because we recognise the transformative and life-saving potential of AI across a wide range of diagnostic and treatment areas. In addition to our recent effort in establishing the Institute of Digital Public Health, we are proud to partner with The Department of Health – Abu Dhabi in launching the new AI Healthcare Academy. MBZUAI will provide the Academy our world-class faculty to facilitate AI workshops and training to upskill the healthcare workforce in support of the UAE leadership’s vision to become a global hub for AI and a centre for life sciences.”

Through leveraging advanced technologies and harnessing the power of AI, DoH seeks to upskill the health workforce, enhance local practices and contribute to broader medical research and treatment modalities worldwide. By embracing AI-driven technologies, healthcare professionals can stay at the forefront of innovation, fostering collaboration and knowledge exchange on a global scale.

By collaborating with MBZUAI through its Institute of Digital Public Health, the Academy will encompass ground-breaking research. These efforts will encourage public-private partnerships, fostering collaboration to secure ample funding and ensure ongoing sustainability, setting the academy for long-term success and supporting responsible and impactful innovation.

Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council, Abu Dhabi Global Healthcare Week (ADGHW) is a major government initiative from DoH, taking place between 13 and 15 May 2024.

For more information please visit: https://www.adghw.com/

About Department of Health – Abu Dhabi (DoH):

The DoH is the regulatory body of the healthcare sector at the Emirate of Abu Dhabi and ensures excellence in healthcare by monitoring the health status of the population. DoH defines the strategy for the health system, monitors and analyses the health status of the population and performance of the system. In addition, DoH shapes the regulatory framework for the health system, inspects against regulations, enforce standards, and encourages adoption of world-class best practices and performance targets by all healthcare service providers in the Emirate. DoH also drives programmes to increase awareness and adoption of healthy living standards among the residents of the Emirate of Abu Dhabi in addition to regulating scope of services, premiums and reimbursement rates of the health system.

For further information on DoH, visit https://www.doh.gov.ae/ and follow on X, Instagram, Facebook, LinkedIn and YouTube.

About Mohamed bin Zayed University of Artificial Intelligence (MBZUAI)

MBZUAI is a graduate, research university focused on artificial intelligence, computer science, and digital technologies across industrial sectors. The university aims to empower students, businesses, and governments to advance artificial intelligence as a global force for positive progress. MBZUAI offers various graduate programs designed to pursue advanced, specialized knowledge and skills in artificial intelligence, including computer science, computer vision, machine learning, natural language processing, and robotics. For more information, please visit www.mbzuai.ac.ae.

Photo – https://mma.prnewswire.com/media/2411164/The_Department_of_Health_Abu_Dhabi.jpg


 View original content:https://www.prnewswire.co.uk/news-releases/department-of-health–abu-dhabi-partners-with-mbzuai-and-core42-to-launch-global-ai-healthcare-academy-302143723.html


 



Continue Reading













Artificial Intelligence


Vantiva Ships Over 125 Million Open-Source RDK Devices Globally





 






Published
 1 hour ago 
on
 May 13, 2024





By
  











vantiva-ships-over-125-million-open-source-rdk-devices-globally 






Milestone includes RDK-Broadband and RDK-Video devices shipped to Network Service Providers across the world

PARIS, May 13, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling Network Service Providers (NSPs) to connect consumers worldwide, today announced that it has shipped more than 125 million RDK-based customer premise equipment (CPE) products since 2012, strengthening its market share as of 2024. RDK is a fully modular, portable and customizable open-source software solution that standardizes core functions used in video, broadband and Internet of Things (IoT) devices. Vantiva has been an active member of the RDK community since its inception, providing RDK solutions across IP, Hybrid and Quadrature Amplitude Modulation devices. In 2014, Vantiva contributed software that helped enable RDK to expand its applicability to broadband devices, meeting the demand of operators worldwide for greater technical commonality among suppliers.


 

“Vantiva has played a vital role in helping RDK become a driving force for innovation across broadband and video globally,” said Jason Briggs, President and General Manager of RDK. “Network Service Providers understand the benefits RDK provides in terms of versatility and software commonality, and the importance of having a proven CPE partner, like Vantiva, who can help them deliver at scale. We look forward to continuing to collaborate with Vantiva to extend the reach of RDK for many years to come.”  

RDK-Broadband (RDK-B) is an open platform for broadband devices that provides customers with an industry-leading standard of technology facilitating efficiencies in development cycles through collaborative industry contributions that drive lean business results. Operators can efficiently introduce a wider array of enhanced offerings, like parental controls or cybersecurity, while maintaining complete control over design, development, deployment and data management. RDK-Video (RDK-V) provides developers and operators with a unified software stack for set-top boxes (STBs) and home gateways across a broad range of complex video and management functions, including rendering, content, device management and networking.

“RDK has grown exponentially thanks to the leadership of RDK Management and to the more than 600 companies that contribute to the RDK community,” said Leopold Diouf, Senior Vice President of the product division at Vantiva. “By leveraging RDK as a platform, Vantiva delivers innovative software solutions to a globally diverse range of NSPs and multiple access technologies – DOCSIS, fiber and fixed wireless access. This approach provides our clients with the latest software advancements efficiently and effectively, empowering them to focus their efforts on new services that drive their businesses forward.”

All of Vantiva’s DOCSIS gateways ship with RDK-B as the default software stack. Vantiva’s RDK-V STBs are deployed with leading NSPs across the globe. 

Achieving more than 125 million RDK devices shipped is the latest strategic milestone in Vantiva’s ongoing commitment to providing open and innovative technologies for customers and operators around the world. Vantiva’s goal is to bring seamless connectivity and premium entertainment experiences to consumers by creating best-in-class CPE and partnering with the most innovative companies in the connected home ecosystem. 

ContactsVantiva Press Relations     [email protected]   

Thatcher+Co. for [email protected] 

PDF – https://mma.prnewswire.com/media/2411130/RDK_Milestone.pdfLogo – https://mma.prnewswire.com/media/2388773/Vantiva_Logo.jpg


 View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/vantiva-ships-over-125-million-open-source-rdk-devices-globally-302143682.html


 



Continue Reading













Artificial Intelligence


Ambient Intelligence Market Size to Grow USD 185.5 Billion by 2032 at a CAGR of 25.7% | Valuates Reports





 






Published
 1 hour ago 
on
 May 13, 2024





By
  











ambient-intelligence-market-size-to-grow-usd-1855-billion-by-2032-at-a-cagr-of-25.7%-|-valuates-reports 






BANGALORE, India, May 13, 2024 /PRNewswire/ — Ambient Intelligence Market is Segmented By Component (Hardware, Software, Service), By Technology (Bluetooth Low Energy, RFID, Ambient Light Sensor, Software Agents, Affective Computing, Biometrics, Others), By End User (Residential, Retail, Healthcare, Office Building, Automotive, Others).


The Global Ambient Intelligence Market was valued at USD 19.2 Billion in 2022, and is projected to reach USD 185.5 Billion by 2032, growing at a CAGR of 25.7% from 2023 to 2032.

Get Free Sample: https://reports.valuates.com/request/sample/ALLI-Auto-4W582/Ambient_Intelligence_Market

Major Factors Driving the Growth of Ambient Intelligence Market:

The market for ambient intelligence is expanding rapidly thanks to a number of important considerations. The need for ambient intelligence solutions is primarily being driven by the growing integration of smart technology into common things, together with improvements in IoT (Internet of Things) and AI (Artificial Intelligence). Market expansion is further accelerated by the growing global adoption of smart home and smart city projects. Furthermore, the adoption of ambient intelligence systems is fueled by the increasing need for individualized user experiences and seamless connection across a variety of industries, including healthcare, retail, and automotive. Together, these elements are fueling the market for ambient intelligence, which is expected to revolutionize how humans interact with our surroundings.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-4W582/ambient-intelligence 

TRENDS INFLUENCING THE GROWTH OF THE GLOBAL AMBIENT INTELLIGENCE MARKET: 

By redefining patient care and experience, ambient intelligence hardware combined with affective computing technology in the healthcare sector is driving the growth of the ambient intelligence market. With the use of affective computing, medical professionals may monitor mental health issues, gauge patient moods, and customize treatment regimens by analyzing physiological signs such as voice tonality and facial expressions. Hardware with ambient intelligence, including sensors and smart devices integrated into medical settings, makes data collecting and interpretation easier and improves patient involvement and professional decision-making. Affective computing and ambient intelligence together enhance healthcare outcomes and stimulate the market by encouraging creativity and efficiency in the provision of healthcare services.

The market for ambient intelligence is expanding due to the growing need for smart home automation solutions. By adding smart technologies that automate chores and adjust to their needs, homeowners want to improve comfort, convenience, and energy efficiency in their houses. Voice-activated assistants, lighting control systems, and smart thermostats are a few examples of ambient intelligence technologies that provide seamless automation and connection, spurring market growth and acceptance in the smart home space.

Ambient intelligence solutions are becoming more and more popular because of the need for individualized user experiences in a variety of industries, such as retail, healthcare, and entertainment. Ambient intelligence systems anticipate user wants, preferences, and behaviors by utilizing data analytics, machine learning, and context-aware computing. This allows them to provide customized experiences that increase user pleasure and engagement. This customized strategy increases market growth by cultivating brand distinction and consumer loyalty in addition to enhancing user experiences. The aging population and the rise in chronic illness rates have made ambient assisted living technologies more important, which has fueled the healthcare industry’s growth in the ambient intelligence market.

The market is expanding as a result of rising consumer adoption of ambient intelligence technologies and their advantages in everyday life. Customers are more likely to embrace ambient intelligence solutions in other areas of their lives when they see the efficiency, convenience, and personalization that these solutions provide in a variety of domains, such wearables, smart homes, and linked autos. Additionally, as smart gadgets and digital assistants proliferate, customers become more acquainted with ambient intelligence principles, which facilitates wider acceptance and market growth.

Buy Now: https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-4W582&lic=single-user

AMBIENT INTELLIGENCE MARKET SHARE:

Due to a variety of factors, including the early adoption of modern technologies, the presence of several important companies in the ambient intelligence vendor market, and the significant digitization of different industries in the area, North America held the biggest market share for ambient intelligence in 2022.

Purchase Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-4W582/Ambient_Intelligence_Market

Key Companies:

Siemens AGHoneywell International IncBioIntelliSenseAccel RoboticsABB GroupJohnson ControlsNuance Communications, Inc.INFOSYS LIMITEDSchneider ElectricEyeris Technologies, Inc.Purchase Chapters: https://reports.valuates.com/request/chaptercost/ALLI-Auto-4W582/Ambient_Intelligence_Market

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Ambient intelligence (AmI) Technology Market

–  Automotive Ambient Lighting Sales Market

–  Ambient Air Quality Monitoring Stations Market

–  Ambient Energy Harvesting Market

–  LED Automotive Ambient Light market was valued at USD 2724.3 Million in 2022 and is anticipated to reach USD 4262.6 Million by 2029, witnessing a CAGR of 6.8% during the forecast period 2023-2029.

–  In-cabin Smart Ambient Lighting market was valued at USD 332 Million in 2023 and is anticipated to reach USD 720 Million by 2030, witnessing a CAGR of 12.3% during the forecast period 2024-2030.

–  Location-based Ambient Intelligence Market

–  Ambient Light and Proximity Sensor Modules Market

–  Household Smart Ambient Light Market

–  Ambient Light Flexible Optical Fiber Market

–  Ambient Intelligence in Internet of Things Market

–  Ambient & High-temp Prober Market

–  Handheld Ambient Light Meters market was valued at USD 209 Million in 2023 and is anticipated to reach USD 314.2 Million by 2030, witnessing a CAGR of 6.0% during the forecast period 2024-2030.

–  OEM LED Automotive Ambient Light market is projected to reach USD 3347.3 Million in 2029, increasing from USD 2166 Million in 2022, with a CAGR of 6.5% during the period of 2023 to 2029.

–  Automotive Interior Ambient Lighting Systems Market

–  Car Interior Ambient Light Market

–  Ambient Temperature Detection Sensor Marke

–  Ambient VOC Analyzer Market

–  Ambient Temperature Gel Permeation Chromatography market size is expected to reach USD 162.8 Million by 2029, growing at a CAGR of 5.4% from 2023 to 2029.

–  Ambient Light, IR, UV Sensors Market

–  Low Ambient Temperature Air Source Heat Pump Unit Market

–  Air Quality Monitoring Instruments Market

–  Digital Painting & Drawing Software Market

–  Electric Vaporizers Market

–  Wearable Cooling Devices Market

DISCOVER OUR VISION: VISIT ABOUT US!

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

YOUR FEEDBACK MATTERS: REACH OUT TO US!Valuates [email protected] U.S. Toll-Free Call 1-(315)-215-3225WhatsApp: +91-9945648335Website: https://reports.valuates.comBlog: https://valuatestrends.blogspot.com/YouTube: https://www.youtube.com/watch?v=C4dv-wCqSN8&feature=youtu.bePinterest: https://in.pinterest.com/valuatesreports/Twitter: https://twitter.com/valuatesreportsFacebook: https://www.facebook.com/valuatesreports/https://www.facebook.com/valuateskorean https://www.facebook.com/valuatesspanish https://www.facebook.com/valuatesjapanese https://valuatesreportspanish.blogspot.com/ https://valuateskorean.blogspot.com/ https://valuatesgerman.blogspot.com/ https://valuatesreportjapanese.blogspot.com/

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

 


 View original content:https://www.prnewswire.co.uk/news-releases/ambient-intelligence-market-size-to-grow-usd-185-5-billion-by-2032-at-a-cagr-of-25-7–valuates-reports-302143663.html


 



Continue Reading
















 







Trending