Center for Financial Services Innovation (CFSI) was founded in 2004 with a mission to transform the U.S. financial services marketplace to help underbanked consumers achieve financial prosperity. It seeks to improve the quality and quantity of financial products and services, better shape them to the needs and desires of underbanked customers, and expand effective savings and asset acquisition opportunities. The center believes that addressing the needs of the underbanked consumers as a market will deliver broad, long-term change throughout the financial services landscape by creating mutual benefit for both the underbanked consumer and the companies that serve them.

The Center has developed a variety of programs and activities to promote and enhance underbanked strategy and practice. It provides funding for innovative solutions, connects potential partners, offers platforms for testing products and services, and identifies, develops and distributes authoritative information on how to respond to the needs of the underbanked profitably and responsibly.