More than 600 participants gathered at the Sixth Annual Underbanked Financial Services Forum to discuss the future of the marketplace for the underbanked.

Although underbanked consumers in the U.S. often have insufficient access to financial services, their access to mobile phones is fairly widespread.

Underbanked consumers need minute-to-minute information about their finances, and mobile financial services (MFS) are well suited to deliver it.

The financial crisis and economic downturn have reshaped the financial services landscape.

The need for new ideas to improve Americans’ financial capability has been evident throughout the recent recession.

In 2010, the Financial Health Network launched its largest effort yet to catalog all existing financial products and services aimed at the underbanked population: the Underbanked Industry Scan.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

Young adults entering the work force and managing wages for the first time today face a financial services marketplace that is markedly more complex than the one their parents first encountered as young adults.

As this year’s Forum made clear, the underbanked financial services industry is in a period of progress.

The current economy has spawned renewed examination of the market potential for secured credit cards.

The Financial Health Network led a consumer research study on secured card products, conducted with MasterCard and Blue Flame Consulting.

The recent financial crisis has revealed that Americans at all income levels exhibit difficulty in managing their finances and are ill-prepared to weather economic stresses.