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The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. When architects constructed the Notre-Dame Cathedral in the 13th century, they reinforced its structure with 28 flying buttresses. These famous buttresses are credited with saving the entire roof from collapse during the devastating 2019 fire. Today, as nonprofit organizations brace against shifting economic winds, Im reminded of these critical architectural supports when I consider the wraparound services many philanthropies provide their grantees. Leadership development, training, and networking opportunities are like flying buttresses: They strengthen organizations and provide added structural stability in an unpredictable and unchartered funding environment. Pairing holistic support with financial contributions is especially critical for nonprofits at a time when traditional philanthropic sources are uncertain. Providing opportunities for nonprofit professionals to strengthen their leadership skills and abilities is an increasingly valuable benefit that philanthropies can help make possible, particularly at a watershed moment when groups that deliver critical programs and services must pivot as necessary on a variety of fronts. Building nonprofits capacity for impact According to the T. Rowe Price Foundations 2024 Learning Report leaders of small and mid-size organizations find that workshops, seminars, and personalized advice and insights are prized opportunities to build organizational capacity, and notably when the nonprofit lacks the resources to provide these opportunities to its staff. For instance, Goodyear Tire hosts an annual global week of volunteering that includes professional development workshops for nonprofit professionals on topics like leadership development and project management. Similarly, the American Express Leadership Academy provides skills training for emerging social purpose and nonprofit leaders around the world. In addition, the Allstate Foundation Nonprofit Leadership Center has provided free online management training for nonprofit professionals in partnership with Northwestern Universitys Center for Nonprofit Management at the Kellogg School of Management since 2014. Local and regional philanthropies can also support nonprofits capacity-building efforts, especially since they deeply understand the unique needs of the community and can act as an anchor in the nonprofit ecosystem. For instance, the Greater New Orleans Foundation (GNOF) provides robust civic leadership training and opportunities that include six-month training programs to boost nonprofit professionals leadership skills and foster peer learning to help better ensure a strong talent pipeline. Independently, GNOF also provides routine trainings and workshops to bolster community nonprofit success. At the Ares Charitable Foundation, we surveyed our grantees and found that our partners would benefit from capacity-building resources and strategies that help them increase their expertise in measurement, storytelling, and fundraising. Earlier this year, we launched a Learning Community program for our U.S. grantees that brings organizations with similar goals together for collaborative learning, peer networking, and shared problem solving. Part think tank, part idea incubator, and part professional development institute, our Learning Community program, which we intend to scale globally, was inspired by our staunch belief that philanthropies canand shouldhelp nonprofits increase their reach and impact in ways that extend beyond monetary support alone. Safeguard nonprofits for the future Leadership training, community partnerships, and peer networking are our nonprofits flying buttresses. These kinds of supports can shore up fiscal contributions and provide practical resources to help undergird organizations as they strive to execute day-to-day operations and remain stable as the funding landscape continues to evolve. Notre-Dame thankfully continued standing following the historic 2019 fire and with the help of philanthropic wraparound supports, organizations that communities have come to rely on and trust can, too. If funders recognize and commit to providing resources that, in truth, can be just as valuable as cash, then nonprofits can survive in the wake of the unknown and continue to make the difference they have long sought. Michelle Armstrong is president of Ares Charitable Foundation.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. Digital wallets have fast become part of daily life. By 2027, theyre expected to account for half of all retail salesaround $25 trillion worldwide. Its easy to see why. Paying with a digital wallet is easy, secure, and requires nothing more than a phone. But theres potential for wallets to do so much more, beyond payments. Digital wallets started as payment tools. Now, they’re becoming platforms for everything: verifying identity, storing loyalty cards, presenting boarding passes and rail tickets, accessing insurance documents, and roadside assistance memberships. This isnt just convenienceits intelligence in your pocket. In China, super apps like WeChat let people manage investments, book rideshares, order food, schedule medical appointments, access government services, and engage with social networks. Its meeting a growing demand for more personalized digital experiences. Its me, always Identity is no longer a card in your walletit is your wallet. As governments around the world implement digital passports and drivers licenses, they will be held in digital wallets. In Belgium, more than 80% of those over 16 use itsme for secure identification, digital transactions, and electronic signatures, with millions of actions performed daily. Another examplethe EU Digital Identity Walletis expected to launch for all EU citizens, residents, and businesses by 2026. It will store users documentation so they can securely access public and private online services across member states. Given its focus on cross-border interactions, the EU program could be a precursor to a standardized global ID framework. A wealth of management Today, innovative companies are developing wallets into financial hubs that manage investments, loans, and cryptocurrencies. Revolut, for example, started as a currency exchange wallet and expanded into banking, trading, insurance, and wealth management. This year, the company plans to introduce one-day mortgage approvals and AI-powered assistants that provide personalized financial insights and recommendations. The convergence of AI, blockchain, and fintech is pushing wallets boundaries. Apps such as Trim, for example, function as AI-driven financial assistants that help users negotiate bills, cancel unwanted subscriptions, and automate savings. Argent, an Ethereum-based smart contract wallet, allows users to securely store, manage, and invest in cryptocurrencies. Think: less banking app, more autonomous CFO. In a few years, wallets could be semi-autonomous financial agents that analyze a users real-time cash flow, optimize investments, and negotiate loan rates with minimal human input. They may execute smart contracts for renting homes, leasing vehicles, or securing gig work, eliminating the need for traditional intermediaries. With integrated finance capabilities enabled by open banking, they could lend, borrow, and trade assets, adapting to market conditions as they change. Just A Rather Very Intelligent System Consider the number of apps we have on our phones, and the amount of time we spend logging in to various platforms and hopping between tasks. Imagine the digital wallet as a personal assistant that steps in for ushelping to manage shopping, banking, healthcare, and prescriptions, for example, or scheduling travel and rebooking flights when delays occur. It might not be JARVIS the AI butler from the Marvel Cinematic Universe, but certainly it is a useful and intelligent assistant. These assistants could make decisions on your behalf via agentic AI models. They have the potential to automatically calculate tax returns, pay utility bills, switch providers, order groceries based on household consumption patterns, share medical histories with healthcare professionals, and recommend spontaneous trips based on weather and work schedules. Imagine your wallet negotiating a mortgage rate at 3 a.m. while you sleep. Know your agent Considering the level of agency we may grant to these assistants, it is essential to ensure that they are secure and transparent. A statistic from the World Economic Forum suggests that only a minority of organizations currently have a process in place to assess the security of AI tools before deploying them. Know your agent protocols are in the ascendant, and rightly so. Regulatory and governance frameworks must enforce standards and require that AI models are auditable and free from bias. Solution developers must prioritize user controlenabling individuals to set privacy preferences, verify AI-driven decisions, and override automated actions. In the future, the smartest thing in your pocket might not be your phoneitll be the agent inside it. This is emerging territory, so businesses and governments should work together to develop open, secure, and ethical innovations. If done right, the digital wallet wont just carry your moneyit will carry your life. And itll do it with your permission, your priorities, and your protection in mind. Ken Moore is the chief innovation officer at Mastercard.
Category:
E-Commerce
One of the worst parts about flying might just be, well, fellow passengers. In fact, a 2023 Fast Company-Harris poll even found that 62% of airline customers are most dissatisfied with other travelers. Now, that might just be backed up by the new 2025 North America Airline Satisfaction Study from J.D. Power. The study noted that the volume of fliers has decreased in the first quarter of 2025. But surprisingly, customer satisfaction is slightly up compared to last year, which potentially means that people think overcrowding is one of the worst elements of air travel. The study is based on feedback from 10,224 passengers, all of whom had flown on one of the major airlines within a month of completing the survey. Since the study was conducted from March 2024 through March 2025, its worth noting that the responses were collected before President Trump announced sweeping tariffs that caused airline stocks to fall as the U.S. Consumer Expectations Index reached its lowest level in 12 years. Even still, they reflect a reduction in consumer travel thats likely a result of overall market uncertainty. The study based satisfaction scores on seven different elements of travel, and broke down passenger responses into three segments by seating class, including first/business, premium economy, and economy/basic economy. On the studys 1,000-point scale, consumers reported a six point overall uptick in satisfaction compared to the prior yeara number that was largely influenced by the 8-point increase in passengers flying in the economy and basic economy classes. (Satisfaction for customers in premium economy experienced a 7-point decline, and first class passengers reported a 1-point decline.) All of the passengers were asked to rank their experiences across seven categories: airline staff; digital tools; ease of travel; level of trust; on-board experience; pre/post-flight experience; and value for price paid. While the bump in satisfaction could be partially due to the general decrease in ticket prices as airlines scramble to entice passengers, customers also reported positive experiences with airline staff. Overall rankings show JetBlue Airways ranking the highest for first/business class satisfaction, followed by Delta Air Lines and Alaska Airlines. Delta won the customer satisfaction survey in the premium economy segment for the third year in a row, followed by JetBlue and Alaska. For the fourth year in a row, Southwest Airlines took home the win for the economy/basic economy segments, followed by JetBlue and Delta. As airlines face a challenging year for the travel industry, it will be interesting to see if and how they manage to prioritize consumer satisfaction in the face of economic challenges.
Category:
E-Commerce
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