Banks and credit unions can and should be doing much more to support consumer credit building – and, importantly, they can do so in ways that align their own success with the success of their customers.
In 2011, the fees and interest generated by the underbanked market amounted to $78 billion across credit, payment, deposit and other products. Overall, industry revenue expanded by over 7% from $73 billion in 2010.
The underbanked marketplace continues to show growth in payments, short term credit and very short term credit as these sectors capitalize on technological advances, respond to regulatory changes and address the needs of consumers in a post-recessionary economy.
CFSI and Core Innovation Capital present this Knowledge Brief to share the significant trends and the range of revenue opportunities the underbanked marketplace offers today and in the future. The inclusion of products in this report reflect the underbanked landscape and do not constitute a commentary on the appropriateness, safety or quality of any specific product for consumers.
2011 Underbanked Market Sizing Study
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