5. The Unbanked
8.8% of America households (1 in 12, or 10.8
million) are unbanked
The Underbanked
20.1% of households (1 in 5, or 24 million) are
underbanked
6. Household Account Types
• 29.3% have no savings account
• 10% have no checking account
Use of Alternate Financial
Services
• 25% use at least one AFS
• Almost 1/10 regularly use 2 or more
• About 4/10 unbanked and underbanked
used an AFS in the last 30 days
9. The Underbanked
• 91% of underbanked have a mobile phone
• 57% have a smartphone
• 29% used mobile banking in last 12 months
• 17% have used mobile payments
10. The Unbanked
• 64% of unbanked have a mobile phone
• 18% have a smartphone
• 10% used mobile banking in last 12 months
• 12% have used mobile payments
22. Funding
A single savings / checking account or
some pre-paid / cash equivalent card
Payments
Mobile first approach
Targets
Payday loans / high interest rate
organizations