A copy of the Demographic Edition of The LendProtect Underbanked
Index can be viewed at: http://www2.
As per the FDIC, 36 percent of the households in the state are underbanked
and unbanked households.
Regardless of the reason, most underbanked
workers don't realize how much money they're losing each month when they use alternative banking methods.
are not a homogenous group that can be easily targeted with a one-size fits all approach," said Mark Schwanhausser, Director - Multichannel Financial Services at Javelin Strategy & Research.
The FDIC conducted a pilot project in 2011 to determine the feasibility of offering these accounts to help meet the needs of unbanked and underbanked
In addition to collecting accurate estimates of the number of unbanked and underbanked
households in the US, the survey was designed to provide insights into their demographic characteristics and reasons why the households are unbanked and/or underbanked
The FactorTrust Underbanked
Index is a quarterly analysis of the Company's 130 million proprietary loan transaction records.
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.
LocateLogic leverages FactorTrust's proprietary source of loan transaction data for contact information specifically on underbanked
demographic has become one of the fastest growing markets and our company's growth is reflective of this," said Greg Rable, founder and CEO of FactorTrust.
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 can be rendered to them by the banks.
database expansion, new product offerings, customer growth contribute to company's success