ATLANTE, July 22, 2022–(BUSINESS WIRE)–The Financial Services Innovation Lab (FSIL), which serves as an interface between the financial services industry and Georgia Institute of Technology faculty and students, and Fiserv (Nasdaq: FISV), a leading global provider of payment technologies and financial services with a flagship presence in Georgia, is partnering in a new initiative to better understand consumers’ financial health. Through this new initiative, Georgia Tech researchers will leverage Fiserv data to generate insights into household financial behavior that will be relevant to policymakers, consumers and small businesses.
The three-year partnership, funded by Fiserv, aims to increase financial and payments inclusion.
“With the annual rate of inflation in the United States at its highest level in four decades, it is paramount to understand the financial health of American consumers and to offer innovative ways to increase their financial resilience,” Sudheer said. Chava, Alton M. Costley Professor of Finance at Georgia Tech Scheller College of Business, who directs FSIL. “By combining insights from unique data with our team’s expertise in household finances and big data analytics, we intend to provide high-value insights into how major economic trends such as inflation affect consumers and small businesses in the United States.”
As a company that enables the movement of money for thousands of financial institutions and millions of people and businesses, Fiserv will enable FSIL to build a complete picture of consumer spending and financial health. This will allow researchers to generate valuable insights into how consumers and small businesses are affected by sudden economic changes as well as broader economic trends.
“At Fiserv, we believe that data can be used for the greater good, not only to understand the financial health of consumers and small businesses, but also to actively create opportunities to improve financial inclusion,” said said Prasanna Dhore, chief data officer at Fiserv. “By partnering with Georgia Tech, we can deepen our understanding of the people and businesses that use our solutions every day, and take action to positively impact people’s financial lives.”
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in ways that move the world. As a global leader in payments and fintech, the company helps its customers achieve the best results through a commitment to innovation and excellence in areas such as account processing and digital banking solutions; card issuer network and processing services; Payments; e-commerce; acquiring and processing merchants; and the Clover® cloud-based point-of-sale and commerce management platform. Fiserv is a member of the S&P 500®, FORTUNE® 500, and has been recognized as one of the FORTUNE® World’s Most Admired Companies for 11 of the past 14 years and named one of the World’s Most Innovative Companies by Fast Company for two consecutive years. years. Visit fiserv.com and follow on social media for more information and the latest company news.
About the Financial Services Innovation Lab at Georgia Tech Scheller College of Business
FSIL was created to establish Scheller College of Business and Georgia Tech as a hub for finance education, research, and industry. Responsible and sustainable finance is a major research focus for FSIL, in line with Georgia Tech’s larger vision of inclusive innovation for a better future. FSIL engages faculty, students, businesses, and practitioners through five interconnected channels: research, student learning experiences, events, recruitment, and fintech entrepreneurship facilitation. Visit fintech.gatech.edu for more information.
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