The American Fintech Council (AFC), the industry association representing responsible fintech companies and innovative banks, is joining forces with the Center for Accelerating Financial Equity (CAFE), which has selected the first cohort of companies in its new fintech accelerator programme.
Located at the Fintech Innovation Hub by Delaware Tech Park on the University of Delaware campus, CAFE is a non-profit organisation that advances financial health and wellness for low to moderate-income (LMI) and other underserved populations through fintech innovation and partnerships.
Through its flagship fintech accelerator programme, CAFE supports and scales real-world innovation by helping to grow revolutionary businesses that not only create disruptive technologies but also have a strong focus on levelling the financial playing field. It works with financial institutions, investors, and other organisations to connect with fintech solutions to reach new customers and existing communities in new ways.
Phil Goldfeder, CEO of the American Fintech Council, commented: “We are excited to welcome CAFE as our latest strategic partner. In only a short time, the team at CAFE has built a network of leading financial institutions, academics, data scientists and cutting-edge startup companies to create an ecosystem that will collaborate to modernise the financial system and help democratise financial services.”
The American Fintech Council recently spent time in Delaware meeting with the first cohort of innovative companies involved in CAFE’s fintech accelerator programme.
Companies from across the US will join a 10-week hybrid-virtual programme boasting intensive growth-oriented curriculum, mentors, advisors, and speakers representing the wide range of stakeholders in financial equity, as well as ecosystem connections including financial institutions and banks, capital sources, and potential customers. The accelerator is the first of many programmes and initiatives that CAFE will offer to further the mission and to innovate finance, for better lives.
Combining communities
Kristen Castell, managing director at the Center for Accelerating Financial Equity, also said: “AFC’s mission and values are closely aligned with CAFE and we are thrilled to partner with such a change-making industry association to create a more inclusive financial system.
“AFC is not just talk – they are doing the work with regulators, financial institutions, and fintechs every day – that will help improve business across the country and people’s lives. CAFE is excited to connect our respective communities for a greater positive impact.”
AFC and its members advocate for the next generation of companies at the intersection of technology and financial services, while ensuring a transparent regulatory framework for its membership and the populations it serves. They foster innovative, transparent, and responsible products that promote competition, consumer protection, financial health, inclusion, and equity.
