Expanding Financial Services to Underbanked Consumers
Posted by on November 11, 2005
Center for Financial Services Innovation has released a paper entitled, “Expanding Financial Services to Underbanked Consumers: How Tax Preparation Partnerships Can Help Bridge the Gap.” The paper is available at:
http://www.cfsinnovation.com/managed_documents/taxprep.pdf
Recognizing the market gap for unbanked families that do not have access to many financial vehicles both financial institutions and other service providers have developed efforts to reach these consumers at tax time. For financial instituions, these groups represent an opportunity to expand service to an untapped, emerging market segment. Some have attempted to connect consumers with traditional services, while others have designed new services to meet the group’s unique needs.
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