The Financial Health Network and Core Innovation Capital present this 6th annual market analysis to illustrate the size of the opportunity to address the needs of financially underserved consumers and identify significant trends driving marketplace evolution and growth. The study presents a snapshot of the market, including:
- Interest and fees spent by underserved consumers to borrow, spend, save, and plan
- Volume of consumer usage generating revenue
- Current and projected revenue growth rates
- Key trends driving market developments
Financially underserved consumers in the U.S. spent approximately $141 billion in fees and interest during 2015 to borrow, spend, save, and plan across 28 financial products in this diverse and continually growing marketplace. The study explores these findings, including:
- Overall market revenue grew by $7.8 billion or 5.9% from 2014 to 2015
Consumer spending was generated by $1.61 trillion in financial product usage volume
- The market has grown an average of 5.6% each year since 2009
- The market is projected to expand 2.1% in 2016 to $144 billion
- Includes new coverage of Small Business Loans and Auto Insurance for financially underserved consumers
