On November 1, CFSI released it's second annual Underbanked Market Size study in conjunction with Core Innovation Capital. The new and expanded 2011 Underbanked Market Size report, sponsored by Morgan Stanley, examines the current landscape, growth patterns and key trends driving more than twenty financial products serving underbanked consumers in the United States today. The credit, payment, deposit and other products that comprise the underbanked market collectively generated $78 billion in revenue in 2011, a 7% increase from the previous year.
In this webinar, participants learned more about the products, growth, and key trends impacting the Underbanked Market.
Speakers Included:
-Co-Author Rob Levy, Manager, Insights & Analytics at CFSI
-Mike Harris, Managing Partner at Core Innovation Capital
-Lead Analyst Eva Wolkowitz, CFSI
-Bryan Wagner, Executive Director, Morgan Stanley Global Sustainable Finance
See the recorded webinar below:
See more videos from the Center for Financial Services Innovation on Vimeo.
Jennifer Tescher, President & CEO, sat down with Knowledge@Wharton Today to discuss how underbanked consumers are influencing the financial market and creating new opportunities for institutions to develop innovative new financial product solutions.
In the article entitled, Innovation’s Role in Serving the ...
Posted: October 2012
Joshua Sledge, Analyst, Innovation and Research, will be presenting his research during the monthly Center for Financial Security webinar on February 14, 2012 from 1:00 p.m. to 2:00 p.m.
Along with other presenters from UW-Madison and Wisconsin Department of Financial Institutions, Sledge will be speaking on CFSI's research on payday lending and alternative financial providers.
To learn more about the webiar, click here.
The Underbanked Market Size report, released by CFSI and Core Innovation Capital, was referenced in an article Bank Systems and Technology, revealing the huge number of consumers untouched by the banking system. The article discusses changes in market conditions, the effects of the ...
Posted: January 2012
The Huffington Post released an article highlighting CoreScore, a credit reporting method which uses financial data from car and rental payments, payday loans, child support payments, as well as more traditional means of credit score rating. The new method, which will result in ...
Posted: December 2011
The New Underbanked Market Data Knowledge Brief released by CFSI and Core Innovation Capital was highlighted last week in the Las Vegas Review-Journal. Arjan Schütte, Senior Advisor, CFSI, states in the article that one out of every four consumers are classified ...
Posted: November 2011
CFSI's Josh Turnbull, Managing Consultant, Advisory Services, was featured in BAI's Banking Strategies.
In this article, Turnbull points out the that many financial institutions have fully realized the importance of serving the underserved, and are now committing to the next steps of action. ...
Posted: November 2011
CFSI and Core Innovation Capital recently released a Knowledge Brief revealing that unbanked and underbanked generated about $455 billion in loans, payments and deposits for nonbank financial services providers in 2010. This new data confirms that there is a huge opportunity ...
Posted: November 2011
On November 15, CFSI's Underbanked Experience engaged participants of the The Seventh Annual Underbanked Solutions Exchange to go out into the city streets of Chicago and experience first hand the kind of transactions that underbanked people make every day. This article in ...
Posted: November 2011
Rachel Schneider Director, Innovation and Research, CFSI, will be moderating a panel on Prepaid Cards and Loyalty at the Cards and Payments Loyalty Conference in New York, NY on December 5, 2011.
Panelists Include:
- Michael Hafer VP, Global Cards, WESTERN UNION
- Laura Kelly SVP, Global Payment Options, AMERICAN EXPRESS
- Amir Wain CEO, I2C INC.
Interest is growing in open loop/general purpose reloadable cards, as consumer habits shift and banks are looking at it as a possible replacement for debit cards. What are the opportunities for brands, merchants and issuers in using prepaid as another vehicle to help build customer loyalty? What unique attributes could general purpose prepaid cards have that can help institutions measure and manage loyalty programs?
