Flourish Managing Partner Tilman Ehrbeck sat down with American Banker’s Penny Crosman to discuss our spinoff into Flourish Ventures, sharing how Flourish is supporting entrepreneurs and fintech innovations that are helping people to achieve financial health and prosperity.
“Economic growth and tech-driven change don’t automatically solve all the problems; we need to be purpose-driven and mission-oriented,” Tilman told American Banker before diving into specific examples of how some of the companies Flourish has invested in are working to drive financial health.
“Chime created a new value proposition, which is a totally free checking account that has no hidden fees, no overdraft charges and that helps their customers manage their day-to-day cash flow expenses.”
“United Income optimizes for how you should de-accumulate in retirement and optimize the de-accumulation so that it’s tax-efficient and your money lasts and you can achieve your goals for retirement. It’s [artificial-intelligence] driven and individualized.”
“Jimmy Chen [of Propel’s FreshEBT] realized that if he made an app that could scrape [benefit info] and put it at the fingertips of food stamp recipients, he could get incredible customer engagement. It helps them stretch the benefit by an extra 2-3 days.”
Read the full article here. [Please Note: Paywall present.]