Results for tag: "Underbanked"

The Underbanked market is a segment of the banking industry that serves individuals and businesses who are not adequately served by traditional financial institutions. This includes those who are unable to access traditional banking services due to lack of credit history, low income, or other factors. Underbanked customers often rely on alternative financial services such as check cashing, payday loans, and prepaid debit cards. Underbanked customers are typically underserved by traditional banks due to their lack of credit history, low income, or other factors. As a result, they often turn to alternative financial services such as check cashing, payday loans, and prepaid debit cards. These services can provide access to financial services that are not available through traditional banks, but they can also come with high fees and interest rates. Companies in the Underbanked market include Green Dot, Netspend, MoneyGram, and Western Union. These companies provide prepaid debit cards, check cashing, and money transfer services to customers who may not have access to traditional banking services. These companies also offer financial education and other services to help customers better manage their finances. Show Less Read more