2012 Financially Underserved Market Size Study
The financially underserved market grew to an estimated $89 billion in revenue from interest and fees in 2012
This 8% increase over the previous year was announced today in our third annual Financially Underserved Market Size Study, written by CFSI and Core Innovation Capital.
In addition to exploring growth across the market, you can find insights at the financial product level. Among the individual product sectors demonstrating the strongest growth in 2012 were payroll cards, GPR prepaid cards, and subprime auto loans, which grew 32.7%, 28.5%, and 23.6%, respectively. Short-term credit products collectively brought in $50 billion in revenue and showed the strongest growth of a product category at 9.9% in 2012 compared to 2011.
Overall, the findings demonstrate a range of continued opportunities for those seeking to develop high-quality, affordable products to meet the needs of underserved consumers. CFSI and Core Innovation Capital project that market growth continued at a steady rate of 8% in 2013.
If you are having trouble downloading the document, a copy of the document can be found here.