Description

FIs must continue working to bridge the gap between mainstream financial services and the un- and underbanked to ensure an equitable and inclusive banking system.

Amr Hamdi, Finance Analyst

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

    • Consumer trends: key takeaways
    • Graph 1: share of un- and underbanked consumers, by generation, 2024
    • Graph 2: key factors that would get the unbanked to open a bank account, 2024
    • Graph 3: planned account openings, by banking status, 2024
    • Graph 4: types of FIs underbanked consumers use most often, 2024
    • Opportunities
    • Graph 5: channels used to learn about personal finance, by generation, 2023
    • Graph 6: financial behaviors in the past year, by generation, 2023
  2. Consumer Insights

    • Consumer fast facts
    • Un- and underbanked consumers
    • Graph 7: share of unbanked consumers, by household income, 2024
    • Graph 8: reasons unbanked Black adults don't have a bank account, 2024
    • Graph 9: share of unbanked consumers, by race and ethnicity, 2024
    • Reasons for not being banked
    • Graph 10: top reasons the unbanked don't have a bank account, 2024
    • Graph 11: top reasons the unbanked don't have a bank account, 2024
    • Motivations to opening a bank account
    • Financial challenges and future plans
    • Graph 12: top financial challenges, by banking status, 2024
    • Graph 13: top financial challenges, by banking status, 2024
    • Financial behaviors and attitudes
    • Graph 14: non-banks the un- and underbanked would open an account with, 2024
    • Graph 15: attitudes toward early paycheck access, by banking status, 2024
    • Graph 16: attitudes toward bank account opening, by banking status, 2024
    • Graph 17: importance of mobile experience when managing finances, by banking status, 2024
  3. Competitive Strategies

    • Marketing and advertising
  4. The Market

    • Market drivers
    • Graph 18: share of unbanked consumers, by employment status, 2024
    • Graph 19: top reasons the unbanked don't have a bank account, 2024
  5. Appendix

    About the report

    This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

    Market

    Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

    Consumer

    Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

    Brand/Company

    Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

    Data

    Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

    Below is a sample report, understand what you are buying.

    Click to show report

    Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Also, our reports come in PDF, Powerpoint, Word and Excel Databook formats.

    Trusted by companies. Big and small.

    Bell Logo - Mintel client
    Boots Logo - Mintel Client
    Kelloggs Logo - Mintel client
    Samsung Logo - Mintel client
    Nike Logo - Mintel client
    Walgreens Logo - Mintel client

    Want to speak to us directly?

    Contact us on via phone or fill out a form with your enquiry.

    Contact Us