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

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