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From affordable internet to video teller machines: ETA paper highlights outreach to the financially underserved

September 19, 2017

In a new white paper, the Electronic Transaction Association highlights how members are using technology to address the financial needs of underserved consumers.

ETA published the first volume of the white paper in July 2016; the new edition expands upon last year’s findings and includes additional products and services that have come to market for consumers, including:

• Expanded internet access that offers an affordable connectivity in underserved communities domestically and abroad.
• Financial literacy and readiness programs that empower consumers to take control of their finances and prepare for the future.
• Interactive ATMs that transform the branch and make it economically sustainable in previously underserved communities.
• Mobile banking services and updates in ADA compliance that enable financial independence and security for people who lack easy access to physical FI branches, for instance, consumers in rural areas, the elderly, or persons with disabilities.
• Mobile payments that provide an alternative to cash and checks.
• P2P payments that allow consumers to send money to each other via mobile applications.
• Prepaid products that provide a card-based payment option for consumers who don't have a bank account.

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  Get the freewhite paper.