People who do not have bank accounts. Also called the "underbanked," such individuals rely on non-bank check cashing, payday lending, money order, and money transfer services for their financial transactions.
NEW YORK -- Core Innovation Capital (Core) announced this morning the launch of the "Core Underbanked Innovators Challenge" and seeks nominations for the best new product or service innovation for the un- and underbanked in America.
SAN FRANCISCO -- When it comes to paying bills, too often the nation's 37 million underbanked American's do it using hard and costly ways: in cash, and in person, bill pay by mail, or by phoning call centers.
based Center for Financial Services Innovation and Core Innovation Capital said they have released their second annual underbanked market sizing brief, which illustrates the range of opportunities for institutions seeking to develop affordable financial solutions in the marketplace.