Research and Markets (http://www.researchandmarkets.com/research/dd60a1/analysis_of_underb) has announced the addition of the “Analysis of Underbanked Population in the U.S. – Banking the Underbanked with Prepaid Cards” report to their offering.
The unbanked and the underbanked together spend around $10.4 billion on more than 324 million alternate financial services (AFS) products. With a population base of nearly 43 million people, the underbanked offer an immense, untapped consumer segment for federally-insured banks. Wooing the Underbanked is a market research study designed specifically to understand the financial needs of the underbanked. The report offers vital market data for banks intending to tap this consumer segment, identifying the most profitable ways to ensure its economic inclusion into the traditional banking cycle.
Wooing the Underbanked With a special focus on prepaid cards is a market research study designed specifically to profile underbanked populace/households. The aim of this report is to analyze the reasons behind the low adoption of traditional banking products by underbanked and their preference for alternate financial services (AFS) and products (transaction/credit).
The underbanked are educated and employed but are reluctant to use traditional banking products such as debit / credit cards and short term loans primarily due to the fear of hidden costs and convenience issues. They make little use of the services provided by mainstream financial institutions; and are limited to traditional banking where they usually have a checking / savings account. They also frequently use AFS offered by non-banking institutions. AFS products are non-bank money orders, payday lending, check cashing facilities, rent-to-own agreements, and refund anticipation loans.
The objective of the report is to provide vital marketing information about the underbanked that also use AFS products; and the traditional and novel banking and financial services that banks can render to them. The report will provide new insights and give recommendations for banks intending to capitalize on this untapped market segment. Intensive bifurcation of the underbanked customers on the lines of income, age, education, region, race, etc. will enable product development and provide a roadmap to the future of novel banking practices for the underbanked.
Vendor Selection:
This section seeks to profile the companies supporting the market under study. We profile the top vendors and analyze user perspectives to help you make the best decision for your financial institution. Every report includes in-depth reviews of the top vendors.
Key questions answered:
1. Which are the high-growth segments and how is the market segmented on the basis of products, services and stakeholders?
2. What are market estimates and forecasts; which markets are doing well and which are not?
3. Where are the gaps and opportunities; what factors are driving market growth?
4. Which are the key playing fields and winning-edge imperatives?
5. What is the competitive landscape; who are the main players in each segment; what are their strategic directives, operational strengths, key selling products, and product pipelines? Who is doing what?
Key Topics Covered:
1 Introduction 1.1 Report Purpose 1.2 Research Objectives 1.3 Study Methodology
2 Market Overview 2.1 Key Findings 2.2 Market Definition 2.3 Drivers & Opportunities 2.4 Restraints
3 Strategy Formulation 3.1 Key Findings 3.2 Introduction 3.3 Challenges In Serving The Underbanked 3.4 Overcoming Challenges 3.5 Reaching The Underbanked 3.6 Identifying Sweet Spot For Banks To Woo The Underbanked 3.7 Prepaid Cards Financial Vehicle To Enable Economic Inclusion
4 Business Case Studies 4.1 Key Findings 4.2 Prepaid Solutions Tapping The Underbanked With Reloadable Prepaid Cards 4.3 Use Of Wal-Mart Floor Space To Cross-Sell Financial Services
5 Vendor Selection 5.1 Vendor Benchmarking 5.2 Vendor Selection For Prepaid Cards
For more information visit http://www.researchandmarkets.com/research/dd60a1/analysis_of_underb
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