Research Program

The Center for Innovation in Banking and Financial Services (CIBFS) is an independent research center funded by grants and focused on understanding the dual banking system and the role of state-chartered banks in the United States. State-chartered banks and financial institutions have long served a critical role in local economic development, providing the majority of small business financing and supporting commercial and residential real estate development. The number of banks in the U.S. has fallen from approximately 18,000 in 1980 to less than 6,000 today, and as a result many communities, businesses and under privileged demographic groups are without financial services.

The CIBFS research mission includes better understanding the plight of state-chartered banking, exploring the role innovation can play in providing financial services to unserved and underserved communities, and developing policy recommendations to improve the use of technology in the delivery of financial services. Toward this end, the Center supports research on communications technologies, security systems, and cell phone applications as well as focusing on issues of government policy and the performance of state-chartered institutions.

CIBFS supports research conducted by faculty at universities nationwide, research in partnership with industry associations, and research done in conjunction with state regulatory bodies and state banking supervisors. The CIBFS research agenda is developed in consultation with its stakeholder partners, which includes the Council of State Banking Supervisors and various banking associations.

Researchers interested in knowing more about CIBFS research funding should e-mail the CIBFS research director at