Market Disruption banking the unbanked U S household

Market Disruption – banking the unbanked – U. S. household banking status Approximately 27% or 34. 5 million U. S. households still either unbanked or underbanked in 2015 U. S. Household Banking Status 2015, percentage Note: Source: Survey administered by Federal Deposit Insurance Corporation in partnership with the U. S. Census Bureau, collecting responses from more than 36, 000 households, which provides estimates of U. S. households that have account or obtained alternative financial services in the past 12 months in June 2015 1. FDIC National Survey of Unbanked and Underbanked Households , Federal Deposit Insurance Corporation, https: //www. fdic. gov/ 2. Accelerating. Biz analysis § Household Banking Status – Fully banked have accounts in insured financial institutions, underbanked rely on alternative banking services such as money orders, international remittances or non-bank products, while unbanked have no access to financial services § Current Banking Status – Though majority of U. S. households (68%) were fully banked, 24. 5 million households (20%) were still underbanked and nine million households (7%) were unbanked in 2015 § Untapped Opportunity – Financial institutions have opportunity to help meet banking needs of unbanked and underbanked households § Key Growth Drivers – Include increasing accessibility of financial products and services, proliferation of startups offering alternative banking services, growing demand for financial insurance and security, improving household monthly income and employment rates, and strengthening regulations to promote more inclusive financial services © 2017 Accelerating. Biz®. Content use subject to subscriber Terms of Service. 1