Report: Underbanked Investments Top $5.2 Billion

Fintech companies targeting financially underserved consumers received $5.2 billion in investments between July 2012 and June 2013, Finextra reported on November 7.

A study by the Center for Financial Services Innovation (CFSI) and Core Innovation Capital showed that specialty credit accounted for 42 percent of all underserved transactions during that period. Payments made up 33 percent.

Finextra reported that investors are particularly drawn to companies in the subprime auto credit industry.

To learn more about developments in the underserved consumer banking market, read the full story here.

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