Over one in four adults in the U.S. are underbanked or unbanked, making up 64 million consumers off the beaten path of mainstream financial services. While in the past the options for underbanked consumers were fraught with predatory products, today the combination of prepaid cards with mobile banking capabilities is providing a strong alternative to checking accounts for a growing number of consumers.
Join Mary Monahan and Daniel Van Dyke to examine the financial behaviors and habits of this highly mobile, younger group of consumers, as well as compare 13 prepaid providers on their underbanked consumer offerings. They will present recommendations for best practices to build compelling financial products for the underbanked.
During the webinar, they will answer:
• What are the best practices for serving the underbanked?
• Which channel do underbanked customers prefer for different financial activities?
• What payment methods — debit, checks, prepaid, etc. — do the underbanked use most?
• What are the best prepaid products on the market?
• What devices (e.g., computers, laptops, tablets, feature phones, or smartphones) do the underbanked favor for various transactions?