Tag Archives: unbanked
The Unbanked and Underbanked markets in the US continue to grow in importance. Unbanked customers have neither a checking account nor a savings account. Underbanked customers may have an account, but rely primarily on Alternative Financial Services such as check-cashing storefronts and pre-paid cards to manage their finances. The infographic below presents recent statistics about […]
The Importance of Risk Assessment When a consumer applies for a DDA account at a bank or credit union, the institution typically performs some kind of risk assessment to determine how reliable the consumer is likely to be. Will the applicant bounce checks? Will the applicant commit fraud? Will the account eventually be charged off? […]
Dragnet Solutions Explainers are brief Web seminars that cover a topic in 10 minutes or less. Our Explainer on the Unbanked, Underbanked, and Debanked defines these terms and explains why they are important to financial institutions serving US households. Includes recent survey data from the FDIC and the Federal Reserve. WATCH THIS EXPLAINER
Plenty of journalists write about the unbanked and underbanked markets, but how well do these writers really understand the hardships regularly confronting those households who are excluded from traditional banking and financial services? To help these journalists and others gain a better understanding of what daily life is like for many of the unbanked, the […]
Some of the brightest minds in banking will be discussing the unbanked and underbanked market at this week’s EMERGE Conference in Los Angeles. To remind our readers of the potential of this market, we’ve compiled this infographic.
Prepaid cards are poised for dramatic growth, according to a recent study from MasterCard. Worldwide, the market for prepaid cards is projected to nearly quadruple from $210 billion in 2010 to $822 billion in 2017. That’s an impressive 22% CAGR. The US had 73% of the prepaid card market in 2010. That share will likely […]
It’s no secret that, especially since the recession, many American households are managing their finances without traditional bank accounts. According to the FDIC’s most recent survey of American households, nearly a third of American households are “unbanked” or “underbanked.” Here’s how the FDIC defines these terms. Unbanked households have neither a checking account nor a […]