The Impact of Innovation – ADP Learning Brief

Low-wage immigrants are a particularly hard-to-reach segment of the underbanked population. Lack of identification or documentation, distrust of banks, language differences, and cost barriers  often stand between these individuals and the mainstream financial system. As a result, they  often turn to high-cost alternative providers such as check-cashers to meet their financial services  needs, and therefore they have limited opportunities to build assets and achieve financial prosperity.