Today, the Joint Center convened a meeting of financial services industry experts to talk about the future of communities of color, hosted at CitiGroup. We collected ideas from the experts about major technological shifts in the financial services industry over the next decade that may present both challenges and opportunities for communities of color (e.g., fintech, digital money, blockchain, data security, smart cities, big data).
Based on this conversation and others, the Joint Center will select 3-4 areas in which to produce reports, policy briefs, policy videos, fact sheets, and survey data in 2017. The work will provide an overview about the shift and anticipated challenges (e.g., loss of particular jobs) and opportunities (e.g., new types of jobs, minority contracting opportunities, quality of life improvements) to communities of color. The work will also make recommendations to elected officials and other key stakeholders on steps they should take now to mitigate challenges and maximize opportunities for communities of color. For more details, click here for a summary and 1-minute video of our 2017 plans.
Participants at Financial Services Lunch
Paul Thornell, CitiGroup (host)
Aron Betru, Milken Institute's Center for Financial Markets
Laura Cummings, Center for Financial Services Innovation
Kate Griffin, CFED
Nichole Francis, MasterCard
Alejandra Montoya-Boyer, Joint Center
Spencer Overton, Joint Center
Aracely Panameño, Center for Responsible Lending
Sean Peterson, American Express
Lillian Singh, CFED