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Our mission at CFED is to make

it possible for millions of people to

achieve financial security and

contribute to an opportunity economy.

Who We Are

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About CFSI

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CFSI is a national authority

on consumer financial

health.

We lead a network of financial service

innovators that are committed to

improving the financial health of the

underserved by building better

products, programs and practices.

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Are you prepared for the

unexpected?

Are you able to pursue

opportunities?

Do your daily financial activities

support both of these goals?

What does Financial Health mean?

Financial Solutions Lab supports solutions

improving consumer financial health

Purpose: To support entrepreneurs &

innovators to develop & test technology-

enabled, high-quality solutions that

improve consumer financial health.

• $30M, 5-year initiative managed by CFSI with founding partner JPMorgan Chase & Co.

• Identify, test and bring to scale promising innovations that help Americans increase savings, improve credit, and build assets

• Run 5 Innovation Challenges over 5 years with best possible combination of incentives & resources to encourage providers to take action

• Working with industry leading advisors, and partners:

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• $100 MM in Follow-on Capital since April ’15

• Over 140,000 new users

• 1 acquisition

– Founder joined CFSI as Inaugural Entrepreneur-in-Residence

• Teams more than 2x in size

• Impact:

–Mission evolution

–Improved Credit Scores

–More savings

–More money in consumer pockets

–Greater access

• Founders are advocates for Financial Health

Update on FSL 1

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FinLab’s 2016 Challenge

POLL & DISCUSSION

Manage Income and Expenses

FSL Cohort Members Help Users….

Make Decisions and Pursue Goals Build Savings

Manage Credit and Reduce Debt Access and Manage Benefits

POLL & DISCUSSION

Check all that apply.

POLL & DISCUSSION

Check all that apply.

Helping people organize

their financial lives

Confidential & Privileged – Do Not Distribute

Bills Are A Critical Problem

The Biggest Stress: Monthly Cash Flow

Bills: 11 – 15 / month

Bill Payments: 87% of spend

Mistakes Cost: $430 / year

2/3 of Americans: <$1,000 in cash

Confidential & Privileged – Do Not Distribute

Prism Is The Solution

• Universal

• Transparent

• Organized

• Prioritized

• End-to-end

• Instant

• Beautiful

Confidential & Privileged – Do Not Distribute

Our Customer

• Millennials

– Age 25 – 35

– Earn $30K – $80K

– Spend everything

Women

Men

Total Cash Available on 9/1/14

8%

26%

15%

7%

5%

19%

11%

5%

18 – 24 25 – 34 35 – 44 45 – 54 55+

< $100 (18%)

< $1,000 (29%)

< $3,000 (25%)

< $10,000 (17%)

> $10,000 (11%)

version bl09.1 proprietary and confidential, one financial holdings group, inc.

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SafeLow cost banking for all

Simple, low fees

drive $250/yr cost

reduction

Full featured

account drives 4x

savings choices in

6 months of use

Fast20 minutes end-to-end

98% approval rate

NY/SF teams live

today

Non-SSN/TIN

welcome

EasyNo commitment

Use your existing

office

Zero incremental

cost

Anywhere in the US

Our mission is to deliverfinancial access to everyone

Bee delivers a low cost bank account to vulnerable populations

OVERVIEW

We exceed expectations

PRODUCT(1/2)

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Robust mobile interfaceDesigned for LMI experience

(e.g., simple UX, for range of devices)

Instant mobile check

depositFunds available in under 30 minutes,

over 90% feature uptake at 1% fee

levelCustomer friendly revenue

modelSimple fee structure, no surprises,

over $250 cost reduction per year

We support on-boarding

PRODUCT(2/2)

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10 minutes

Customers

frequently abandon

former products

Identity verification Feature walkthroughExplanation +10 minutes

Requirements:SSN or Photo ID

Age 18+

Smartphone present

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Our users increase use of savings tools over time

IMPACT

Note: savings represents transfers from Bee Account to Bee Vault

$130 > $570(that’s 4.4x)

the amount that Bee users

increase their savings

after 6 months of use

OUR

JOURNEY

MILESTONES

2014

Q3 SEED FINANCING

2013

Q4 CONCEIVE IDEA201

4 Q1 FORM COMPANY

2015

Q1 PRODUCT 1: CHECKING & SAVINGS201

5 Q2 LAUNCH NEW YORK CITY

2015

Q4 SPANISH LANGUAGE INTEGRATION201

6 Q1 LAUNCH SAN FRANCISCO

2016

Q3 BEGIN MOBILE ENROLLMENTS

2017

Q2 PRODUCT 2: CREDIT34

version bl09.1 proprietary and confidential, one financial holdings group, inc.

Alex solved retail banking

problems at Oliver Wyman,

managed wireless profitability at

Dean & Co for big telecoms, and

studied nuclear engineering at

Princeton

CFO - Alex GasnerCTO - Max

Gasner

TEAM

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CEO - Vinay Patel

Max built and sold a cutting-

edge machine learning company

to Salesforce, traded equities in

NY and London, and studied

Sanskrit and Pali at UChicago

Vinay ran critical projects for

McKinsey’s banking and public

sector clients, taught strategy

at Columbia, and studied law at

NYU and economics at

UChicago

share prior solution

Brick and mortar costs, no tech

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STEAL SHARE FROM MULTIPLE

CATEGORIES

COMPETITION

CHECK CASHERS

Increasing minimums,

shutting branches, pushing

overdraft

RETAIL BANKS

High fee products in

saturated channels

LEGACY PREPAID

Breakage, stuck with

Google

‘MOBILE’ BANKS

Resides:

Annual Income:

Occupation:

Core use case:

Favorite feature:

Oakland, CA

$28,000

Construction worker

Denied an account because of ID verification failures at Bank of America, Chase, and Wells Fargo

Text update on account balanceJosé Martin Rodriguez, Jr. - age 40

Resides:

Annual Income:

Occupation:

Core use case:

Favorite feature:

Brooklyn, NY

$34,000

Health services technician

Need an account to deposit income from new job, no bank branches in her neighborhood

Instant availability check depositAlysha Cooper - age 25

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WIDE RANGE OF LMI

EXPERIENCES

CUSTOMER PROFILES

EARNBig Dreams Start with

Small Savings

The nation’s leading microsavingsprovider since 2002. Our mission isto help working families save andinvest in their futures.

Americans are Vulnerable to Financial Shocks

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of Americans can not meet an unexpected

$400 expense without going into debt or selling something.

47%

BUT…Saving Gives Families Stability

Families with a savings cushion of as little as $250 are less likely to be evicted, miss a housing or utility payment, or

receive public benefits after a financial shock.

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Introducing EARN Starter Savings A Savings Platform to Incentivize Savings Habits

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EARN helps America’s most vulnerable families start saving and keep saving, leading to lasting financial stability.

Designed for and with low-income working consumers.

90% People of color

76%

Women

$21,100

Average household income

Our Current Savers Are:

EARN’s Impact on America’s Financial Future Flexible Savings Programs

“Savings as a Service” for Organizations Policy Change through Proof Points + Research

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Policy Change

FAMILIES

PROGRAMS

TECHNOLOGY RESEARCH

EARN

Building the Field

Financial

Aggregators

Communications

Banks

+ 16,000

Statements

&Payments

Experiences

Our Technology A Technical Hub for Saving Programs

Infrastructure

The Starter Savings Experience

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Modular, Customized, Localized

EARN’s Expertise + Technology = Results

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80%Develop a

habit of saving

We have proven success through research, technology innovation, and close partnerships with organizations across the United States.

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