Financially underserved consumers in the U.S. spent $189 billion in fees and interest on financial products in 2018. This report explores marketplace evolution and growth in order to highlight the opportunity to develop innovative, high-quality solutions to improve financial health for these consumers.
The 2019 report offers key insights into this growing market, such as:
Interest and fees paid by underserved consumers across a set of 29 financial products in 2018
The volume of consumer usage generating revenue in 2018
Current and projected revenue growth rates across product categories
Spending on fees and interest among underserved consumers is continuing to climb, highlighting the need for innovative, high-quality solutions.