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REPORT: Unbanked services to double by 2011
August 27, 2007
Marketing Daily:Consumers who are disenchanted with the banking industry are seeking more convenience and easier answers to credit and economic woes. In fact, research suggests transactions from that underserved group will more than double by 2011, hitting $389 billion in fees and loans. Those estimates were published in Packaged Facts "Non-traditional Financial Services Markets in the U.S.: Unbanked and Underbanked Consumers." report. A huge, untapped growth area now exits among the blue-collar working class, which has been roiled by layoffs, loss of health insurance, foreclosure threats, credit problems and other financial woes. The other untapped area is young consumers, who are cherry-picking products and services based on price and convenience, says Elizabeth Rowe, the report's author.
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