Sentences with phrase «unbanked consumers»
"Unbanked consumers" refers to individuals who do not have a bank account or any access to traditional banking services. They are excluded from basic financial services like having a savings account, making electronic payments, or obtaining loans from banks. Full definition
While the government has been actively involved in financial inclusion initiatives, there is still a high population of unbanked consumers at 65 million adults.
americanbanker.com
It's the best card for unbanked consumers who need to improve their credit.
But the time has come to refine that information and create opportunities for banked and unbanked consumers alike.
It was one of the groups behind creating the prepaid debit card, which served unbanked consumers.
The testimony notes that the combined effect of these laws and regulations has resulted in higher bank fees, a dramatic reduction in access to free checking, an increase in the number of unbanked consumers, a dramatic reduction in access to credit cards for low - income consumers, and continued low access to mortgages, especially among lower - income and higher - risk borrowers.
Partnering with another card company called Akimbo, MoCaFi aims to provide alternatives for unbanked consumers.
Use credit data for banked and unbanked consumers to offer competitive products and promote financial wellness
In a statement last week, Newtown Partners marketing partner Inge Lok said the investment will help Wala bring about its aim to provide zero - fee financial services which include insurance, transactional banking, remittances and loans to around 3.5 billion unbanked consumers.