Publications  |  Success Stories

One of the greatest challenges facing financial services companies seeking to penetrate the underbanked market is that the traditional bank account frequently does not work for either party. BankFirst developed its general purpose reloadable card to meet this need. The ...

Developing effective methods of assessing risk is one of the most significant obstacles to banks and other lenders seeking to expand into underserved credit markets. Atlanta-based L2C is the first company to combine the breadth and depth of non-traditional data ...

In today’s competitive business climate, financial institutions find themselves in need of new and more flexible products to attract customers and retain savings and investment accounts. SAVE252 was founded to address this challenge. Its groundbreaking daily IRA allows consumers ...

The traditional entry point for a banking relationship, the checking account, frequently does not appeal to underbanked consumers. Check cashing can be a valuable way to acquire new customers. VALID Systems develops check cashing technology and transaction processing solutions for ...

To financial institutions seeking fresh customers, the Latino market is an enticing target. In 2003, MicroFinance International Corporation founded Alante Financial to serve Latino immigrants in the United States, drawing upon its strong relationships in Latin America. Click on the ...

El Banco de Nuestra Communidad is a new concept in Latino banking. Founded in 2001, it offers a comprehensive approach to its newly arrived, unassimilated, immigrant customers. Additionally, El Banco offers consulting services to banks in other areas seeking to ...

An estimated 70 million Americans have either no credit score or a lower credit score than their financial history warrants. These consumers may have paid rent, a private mortgage, or other significant bills on time for years, but this information ...

TIO Network uses sophisticated technology to provide automated services that include bill payment, money transfer, and check cashing. Despite their sophistication, the kiosks are relatively inexpensive to produce and are distributed to groceries, convenience stores and other retail locations in ...

Understanding that traditional bank accounts could not meet the needs of many of its new customers, and that transaction costs needed to be kept low, University Bank spent over two years developing a powerful prepaid card that could take the ...

Boston-based CircleLending broke new ground by developing a set of products and services to formalize and facilitate interpersonal loans between provate parties for business, mortgage, and basic loans. Click on the link above to download a PDF document of ...

Community Empower offers services to help people become home owners. Because so many of its customers were underbanked, the for-profit company sought a way to help its clients save money. The solution came in the form of the Power Card, ...

EFS Bank, a community bank based in Elgin, Illinois, with nearly $1 Billion in assets, saw that its area was changing with both a general increase in ethnic diversity and particularly a rise in Latino households. In response, the bank ...

KeyCorp, one of the nation's largest bank-based financial services companies, realized that a huge number of its targeted customers nationwide did not have bank accounts. In February 2004, KeyBank launched its KeyBank Plus initiative, a comprehensive program to convert urban, ...

SSA Baltimore Federal Credit Union's success story focuses on the solution for a cost-effective way to serve those in need of financial services. The credit union created Neighborhood Contact Offices with a unique strategy that offered the opportunity to expand ...