|By Business Wire
|January 31, 2013 05:39 PM EST
Capability Development Competition (FinCapDev, http://fincapdev.com)
has named 13 Finalist Teams to develop new mobile apps that will help
working Americans make smart financial choices and gain better access to
financial services. The apps proposed by the Finalist Teams address a
variety of challenges, ranging from student debt decision-making to
impulse spending management to peer lending to tapping social networks
for financial advice to new takes on budgeting and more. Over 300
individuals participated in the app proposal phase of FinCapDev.
The FinCapDev Finalist Teams are:
Nancy Anderson of Clinton, Mississippi
Eric Bell and Guille Carlos of Arlington, Virginia
Manel Baucells and Rajesh Jha of Los Angeles, California
Karen Carlson, Dr. Michael Moshell, Brett Connolly, Jaffy Escarcha,
Greg Zanmiller, Alexander Chernoff, and Michael Fried of Ocoee, Florida
Lex Fridman of Philadelphia, Pennsylvania
Ben Knelman, Dante Cassanego, Cristina Gorrino, and Katie Nienow of
Mountain View, California
Itai Leibowitz, Vanya Pasheva and Marcos Siqueira of New York City,
Vanessa Lindley of Queens Village, New York and Christi Baker and
Matthew McGraw of San Francisco, California
Floyd Newsum, Melanie Mosley and Dr. Michael Wong of Houston, Texas
Floyd Newsum, Janice Newsum, Melanie Mosley of Houston, Texas
Francisco Prat of New York City, New York
Grace Salas, Alex Sloan, Harold Marrero, Sophia Shah of Miami, Florida
Richard Trask of Wilmington, Delaware, Matthew Schmidt of New Castle,
Delaware and Jason Mastriana of Newark, Delaware
To learn more about each Finalist Team, visit http://www.fincapdev.com/finalists/.
“We’re tremendously excited to support and work with this talented,
dynamic group of innovators,” said Timothy Flacke, Executive Director of
the D2D Fund. “The fact that they hail from all over the country, and
range from educators to entrepreneurs to engineers, reinforces our
belief that innovation in the financial capability and access field
really does come from anywhere. We’re eager to see the completed apps
these teams produce.”
To learn more about the partner-provided resources that FinCapDev
Finalist Teams will have the opportunity to access, visit http://www.fincapdev.com/what/expert-resources/.
“This marks the beginning of an ecosystem focused on leveraging
innovation to improved financial capability and access to high quality
products and services,” said CFSI President & CEO Jennifer Tescher.
“From funders to finalist teams, we’re thrilled to see such engagement.
We’re eager to see this ecosystem thrive and grow.”
Finalists will build fully functional apps by late spring, at which
point they will present their apps to a panel of high-profile, expert
judges at an event hosted by FinCapDev administrators, the D2D
Fund and the Center
for Financial Services Innovation. The $100,000 prize purse,
including a $50,000 Grand Prize, will be awarded at this event.
Flacke and Tescher acknowledged the contributions of many enterprises in
advancing the apps, including the teams at Betterment
for graciously donating time and resources to insure the technical
feasibility of all Finalist app proposals.
Supporting FinCapDev partners throughout the competition include the
Applied Innovation Institute, Braintree, Citi, Dell Social Innovation
Challenge, Deloitte, EachScape, Facebook, H&R Block, ideas42,
MasterCard, Women Innovate Mobile, and Yodlee. FinCapDev is made
possible thanks to the generous financial support of the Ford
Foundation, the Citi Foundation, and Omidyar Network.
To follow the progress of FinCapDev Finalist Teams, visit the FinCapDev
and follow on Twitter (http://twitter.com/fincapdev)
or Facebook (http://facebook.com/fincapdev).
The Financial Capability Development Competition (FinCapDev, http://fincapdev.com)
is a nationwide $100,000 challenge to develop new mobile apps to help
working Americans make smart financial choices and get better access to
financial services. In addition to bringing approximately six
high-impact apps to market and available for consumers use, the
competition will create an ecosystem of American innovators, technology
companies, software developers, financial service firms, investors, and
nonprofits to foster innovation in new mobile financial tools.
About the Center for Financial Services Innovation
The Center for Financial Services Innovation is the nation’s leading
authority on financial services for underbanked consumers. Since 2004,
its programs have focused on informing, connecting, and investing –
gathering enhanced intelligence, brokering and supporting productive
industry relationships, and fostering best-in-class products and
strategies. CFSI works with leaders and innovators in the business,
government and nonprofit sectors to transform the financial services
landscape. For more on CFSI, go to http://cfsinnovation.com
or follow on Twitter at @cfsinnovation.
About The Doorways to Dreams (D2D) Fund
Doorways to Dreams (D2D) Fund strengthens the financial opportunity and
security of low and moderate income consumers by innovating, incubating,
and stimulating new financial products and policies. Operating at the
intersection of the private, non-profit and public sectors, D2D
incubates and promotes practical applications with social impact that
might otherwise lack a champion to nurture and bring them to market. D2D
was incorporated as a 501 (c) 3 not-for-profit organization in 2000 and
is headquartered in Allston neighborhood of Boston, across the street
from Harvard University’s recently opened Innovation Lab. For more on
D2D, go to www.d2dfund.org
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