Lack of affordable formal banking solutions affects over 15 million adults in the United States. Even as employment numbers improve domestically, the number of unbanked individuals remains stubbornly high.
Financial inclusion has long been a goal in countries around the world. Finding ways to offer solutions that provide financial inclusion for the unbanked and underbanked-and do so profitably for the providers-is the topic of a new research report from the author titled Doing Well by Doing Good: Delivery Models and Channels Serving the Financially Underserved. Solutions that are succeeding in several developing economies are reviewed, and selected solutions in the United States are profiled.
Highlights of the report include:
The reasons why individuals are unbanked and the difficulties in supplying banking services to affect the population of unbanked in the U.S. materially
A look at some noted solutions around that world that have been highly successful in their outreach to the unbanked population
The commonalities of product features and business models among these products
A discussion of the product and customer experience approach domestically in the U.S. and how that contrasts with examples outside the U.S.
A comparison of providers in the U.S. categorized as bank providers, program managers or alternative financial services providers.
Key Topics Covered:
1. Executive Summary
3. Tracking the Unbanked in the U
4. Successful Implementations Are Making an Impact
Money on Mobile
5. Shared Characteristics
6. Being Unbanked in the U.S
The Unbanked Customer Experience
It's a Card World
Alternative Financial Services Providers
Comparison with the Global Examples
7. Profitably Serving the Unserved in the United States