Submitted by Anonymous on November 2012
The Center for Financial Services Innovation (CFSI) and Core Innovation Capital released their second annual underbanked market sizing brief, which illustrates the range of opportunities for institutions seeking to develop high-quality, affordable financial solutions in the marketplace. The report, which benefits from strategic input and financial support from Morgan Stanley, encompasses 22 financial product types utilized by over 68 million underbanked consumers in the United States.
The new data reveals revenue gained from interest and fees paid by underbanked consumers rose to $78 billion in 2011, a seven percent increase from comparable 2010 data. This revenue was generated from an overall market volume of $682 billion in principal loaned, funds transacted, deposits held, and other financial services rendered.
See the full report below.
CFSI and Core Innovation Capital released new data about the 2010 underbanked market size. The results demonstrate that there is not only a substantial need for financial products and services to serve the underbanked population, but a significant revenue opportunity in providing ...
Posted: November 2011
Last fall, CFSI launched its inaugural Underbanked Industry Scan survey, our first-ever attempt to create a complete profile of the existing supply of financial products and services for the U.S. underbanked population. We surveyed the entire spectrum of suppliers to the underbanked ...
Posted: March 2011
Network Branded Prepaid Card Association and CFSI release new data on prepaid card usage and underbanked consumers. The data delivers results from a survey of 400 underbanked prepaid card users and offers information on consumer satisfaction levels, card usage, rankings of ...
Posted: April 2009
PERC RESEARCH-Fully Reporting Nonfinancial Payment Data: Impact on Customer Payment Behavior and Furnisher Costs and Benefits
CFSI is proud to have partnered with PERC on their latest research report, “Fully Reporting Nonfinancial Payment Data: Impact on Customer Payment Behavior and Furnisher Costs ...
Posted: April 2009
Inform your underbanked strategy with the Prepaid Cards vs. Checking Accounts inBrief and take advantage of this newly released segmentation data. Do you want to bring more underbanked consumers into deeper financial relationships with your institution/organization? Then, you should read this inBrief ...
Posted: September 2008
The purpose of the study was to conduct a segmentation analysis of underbanked and unbanked consumers based on attitudes, behaviors and experiences relative to both formal and informal financial services, products, and institutions. Four industry leaders co-sponsored the study with CFSI: ...
Posted: June 2008
This report addresses to what extent traditional affinity marketing models are applicable to underbanked segments and explores the role of the nonprofit community in marketing and distributing financial services through affinity programming. The report also expands on our understanding of affinity marketing ...
Published in CFSI on .
Posted: January 2006
During the BAI Retail Delivery Conference and Expo in November 2005, CFSI conducted an informal survey of financial service companies' interests in and experience with the underbanked market. The survey results can be found here.
Posted: December 2005