This is due to a lack of knowledge of some banks that banks can target and market their banking products to low-income groups. The economic inclusion of the savings population (about 43 million in 2009) into the traditional banking cycle would have a significant fiscal impact on federally insured banks that were traditionally out of this market.
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Those who lack banks are educated and hired, but are reluctant to use traditional banking products such as debit/credit cards and short term loans, primarily because of the fear of hidden costs and convenience issues. They rarely use the services provided by mainstream financial institutions. It is usually limited to traditional banks with checking/saving accounts. They also frequently use AFS provided by non-banking institutions. AFS products are non-bank money orders, payday loans, check monetization facilities, rental agreements, and refundable loans.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Wooing the Underbanked Market.
- The market share of the global Wooing the Underbanked Market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Wooing the Underbanked Market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Wooing the Underbanked Market.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
