According to 2019 FDIC numbers, about 7.1 million American households still don’t have a bank account, including about 14% of Black households and 12% of Hispanic ones. Not to mention, 42% of some American populations are still un-or-underbanked. How is this possible and what are we going to do about it?
Throughout the month of October, we have spoken with several payments leaders currently driving the industry towards the promotion and establishment of financial inclusion.
Their ultimate goal is to close the gap for those underserved communities who are currently unable to take advantage of the numerous benefits that digital disruption provides.
Here’s what they had to say…