Post Tagged with: "unbanked"

Cash Is Still King

Cash Is Still King

by June 2, 2014 at 3:02 pm 0 comments

There are between 60 million and 100 million cash-preferring consumers in the U.S. That’s about the population of the nation’s four largest states – California, Texas, New York and Florida – combined. In April, the Federal Reserve released a paper called the “Diary of Consumer Payment Choice” (DCPC) that featuredRead More

Underbanked Customers Use Mobile Banking — Maybe Too Much

Underbanked Customers Use Mobile Banking — Maybe Too Much

by April 24, 2014 at 5:33 pm 0 comments

Mobile banking is not just for the wealthy — far from it. A report from the Federal Deposit Insurance Corporation released today says just the opposite: the underbanked are greater users of mobile banking services than those with higher incomes. But the underbanked often rely too much on their mobileRead More

MasterCard Partners with Startup EFL — But Doesn’t Take an Equity Stake

MasterCard Partners with Startup EFL — But Doesn’t Take an Equity Stake

by September 19, 2013 at 2:28 pm 1 comment

MasterCard announced a partnership with alternative scoring startup Entrepreneurial Finance Labs (EFL) earlier this week. The deal did not involve the payments giant taking an ownership stake. EFL offers credit providers in developing markets with sophisticated tools to improve underwriting for small business loans. Co-founder and COO DJ DiDonna ofRead More

Millions of consumers soon won’t need a bank account

Millions of consumers soon won’t need a bank account

by December 10, 2012 at 6:51 pm 0 comments

Traditionally, if you wanted to move money around, save cash, pay a bill, purchase something at a store, or otherwise have some sort of systemic access to your cash as you moved around – you needed a “bank”. In fact, you couldn’t do any of these things in the past without a bank. Despite the […]

Opportunity with the Underbanked for FIs

Opportunity with the Underbanked for FIs

by October 12, 2012 at 3:57 pm 0 comments

WASHINGTON, D.C. — Equifax and Chexar see opportunity for FIs among the underbanked. Credit-reporting agency Equifax introduced a new product at BAI Retail Delivery this week called Insight Score for Retail Banking that leverages its data on 25 million so-called “unscoreable” customers with no traditional credit history. The product providesRead More

When the Affluent Become the Unbanked

When the Affluent Become the Unbanked

by September 12, 2012 at 7:42 am 0 comments

Concern about those who have been left behind in receiving financial services (“the unbanked” and “the underbanked” ) have been popular topics of conversation amongst bankers and regulators over the past few years. An important …

SAP’s Richest Sector? (Hint: Banking)

SAP’s Richest Sector? (Hint: Banking)

by August 13, 2012 at 12:45 pm 0 comments

With SAP celebrating the big 4-0 this year, one of the world’s largest enterprise software providers received a wonderful birthday present: substantial growth within its SAP Financial Services unit last quarter.

Future of Mobile Payments: Olympics’s Visa Video

by August 6, 2012 at 4:37 pm 0 comments

Video of Mandy Lamb, South African Country Manager, from London 2012 Olympic games celebrating Visa’s 26 years of sponsoring the world event. She also shares in detail her perspective on the future of payment technology, including mobile and digital wallets and discusses key factors shaping the landscape for the payments industry in South Africa.