underbanked Concepts

Money in the Metaverse: Digital Assets, Online Identities, Spatial Computing and Why Virtual Worlds Mean Real Business

by David G. W. Birch and Victoria Richardson · 28 Apr 2024 · 249pp · 74,201 words

of people who are banked (but who also use the products and services provided by fintechs, such as your authors) and the people who are underbanked: that is, the people who have a bank account but don’t really want it and don’t use the services offered by it because

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working in a cheque-cashing operation in New York. A detailed survey of the demographic details of how the fully banked, the unbanked and the underbanked populations in the US break down provides serious food for thought (Principato 2021) and gives us a useful 2 × 2 matrix for exploring the issue

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then look at who ‘the system’ will or will not give bank accounts to, we end up with four categories: the banked, the unbanked, the underbanked, and what we might think of as the ‘anti-banked’. Those four categories, with the survey estimates for American adults added, appear in figure 18

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identity product and not money in any sense of the word. Figure 18. A breakdown of the ‘unbanked’. It is interesting to note that most underbanked consumers (58%) said that they could manage their finances just fine without a bank. It’s not traditional bank products that they need to improve

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‘banked’ in a literal sense, they are using bank accounts and financial products that are often siloed or underutilized. They are not unbanked: they are underbanked. Underserved There are, of course, a variety of financial services that are used by both the banked and the

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underbanked, and because new accounts can be opened quickly without closing existing accounts, traditional banks and credit unions have been slow to understand just how the

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investment relationships with Acorns, expanding their payment options with Wise and taking out loans with LendingClub in growing numbers. So it is not only the underbanked – who use their account only to deposit their pay cheque or draw out cash – but also the banked who are turning away from their bank

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to obtain the services they want. Looking back across the spectrum, then, we have some of the banked, most of the underbanked and all of the unbanked turning to alternative providers because banks cannot or will not deliver the services that these customers want. Let’s together

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in their Venmo app or their Starbucks app or in a variety of other apps, as shown in figure 19. * * * 5 Almost two-thirds of underbanked adults say they would be able to manage their finances more easily if they could access their pay cheque at any time. 6 We already

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to enter a new era of competition. MIT Technology Review, 13 October (https://tinyurl.com/y3enacnp). Principato, C. (2021). How the roughly one-quarter of underbanked US adults differ from fully banked individuals. Morning Consult, 24 January (https://bit.ly/3Wz5SAD). Rivera, P. (2021). Designing internet-native economies: a guide to

The Future of Money: How the Digital Revolution Is Transforming Currencies and Finance

by Eswar S. Prasad · 27 Sep 2021 · 661pp · 185,701 words

partnered with traditional banks, on whose behalf it originates loans and collects fees in the process. LendingClub has managed to penetrate many areas that are underbanked as a result of having a small number of banks and bank branches, perhaps because of low population density. It was also the first peer

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for quotidian transactions. Even in a rich country such as the United States, roughly sixty-three million adults in economically underprivileged households were unbanked or underbanked (relied on nontraditional banking service providers such as pawnshops and payday lenders) as recently as 2017. These households, along with certain segments of the population

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easing some operational constraints on monetary policy and increasing its potency, especially in difficult times. Nonetheless, with a significant number of households remaining unbanked or underbanked even in a rich economy such as the United States, advanced economies could also see benefits in their populations from increased access to financial products

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adults—did not have bank accounts. An additional 18.7 percent of US households (24.2 million households composed of about 49 million adults) were underbanked in 2017. The latter term refers to households that had, in the previous twelve months, used an “alternative financial services provider” for one of these

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States are available at Federal Deposit Insurance Corporation, FDIC National Survey of Unbanked and Underbanked Households, October 2018, https://economicinclusion.gov/downloads/2017_FDIC_Unbanked_Underbanked_HH_Survey_ExecSumm.pdf. The survey found that proportions of the unbanked and underbanked were higher among lower-income households, less educated households, younger households, Black and

The Unbanking of America: How the New Middle Class Survives

by Lisa Servon · 10 Jan 2017 · 279pp · 76,796 words

Contents * * * Title Page Contents Copyright Dedication Epigraph We’re All Underbanked Where Everybody Knows Your Name Bankonomics, or How Banking Changed and Most of Us Lost Out The New Middle Class The Credit Trap: “Bad Debt”

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.C. and Milo Not everything that counts can be counted, and not everything that can be counted counts. —WILLIAM BRUCE CAMERON Introduction: We’re All Underbanked Growing up in South River, New Jersey, in the late 1960s and early 70s, I went to our local bank, Pulaski Savings and Loan, with

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changing situations, policymakers’ view of personal finance has remained static. The Federal Deposit and Insurance Corporation (FDIC) conducts the biannual “National Survey of Unbanked and Underbanked Households.” The survey classifies respondents as “banked” (they use only banks and credit unions), “unbanked” (they have no bank account), or

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“underbanked” (they have bank accounts but continue to rely on alternative financial services). As of 2013, the year of the FDIC’s most recent survey, approximately

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8 percent of Americans were unbanked and another 20 percent were underbanked. The picture looks far worse for people of color. One in five African American households and nearly 18 percent of Latino households are unbanked. Policymakers

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, alarmed by these statistics, have been working hard to enfranchise the unbanked and underbanked. They insist that a formal relationship with a mainstream financial institution will improve these people’s lives. Convinced that having a bank account enables one

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found that 57 percent of Americans—138 million people—are struggling financially, more than double the number of adults the FDIC categorized as unbanked or underbanked in its most recent survey. I also learned that categorizing people as banked or unbanked seems largely irrelevant outside the financial-services industry. Not a

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our democratic values, and truly serves people, in the best sense of that word. Right now we’re all underbanked, but not in the way Washington believes us to be. We’re underbanked because the banks that hold most of our assets do a lousy job of serving us. Mainstream banking especially

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Citigroup, refuse to accept it as a primary form of identification, denying banking services to a group that is more likely to be unbanked or underbanked. At a recent convention on financial inclusion at the Ford Foundation, I asked a banker from Citibank why his bank did not take the ID

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card, paying a two-dollar service fee. We assume that educated, neatly dressed, accomplished students don’t share the struggles of the black and brown “underbanked” living in the poorest neighborhoods. But many do. It’s time we understood that a much larger group of people is feeling the effects of

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are getting mixed messages from the federal government regarding how to think about the “underserved.” On the one hand, recent focus on the “unbanked” and “underbanked” has put pressure on banks to reach out to these potential customers. On the other hand, the creation of the CFPB has banks and alternative

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to another,” Larsen tells me. “And a lot of payments fail—they get stuck somewhere between the starting point and the endpoint.” “If you’re underbanked, your money probably moves from a non-bank provider to a small bank to a regional bank to global,” Larsen explains. “Your money might go

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can be as simple as a mindset: wanting, as Murphy says, “to serve all of the clients in our community, from the low-income and underbanked to the wealthiest.” MISSION ASSET FUND The office of Mission Asset Fund (MAF) sits in the middle of a busy commercial block in San Francisco

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financial exclusion, but it has also placed a value judgment on some people’s financial decisions without understanding their situations, implying that the un- and underbanked are somehow deficient. This understanding of the problem also tacitly affirms that banks are the good guys. They’re not. This paradigm has outlived its

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found that 57 percent of Americans—138 million people—are struggling financially, more than double the number of adults the FDIC categorized as unbanked or underbanked in its most recent survey. The problem is much, much larger than we thought. It’s big enough, in fact, to fuel a movement. Universal

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bleak. I hope we can all benefit from their courage, sharing, and perseverance. Notes Introduction: We’re All Underbanked xiv the percentage of Americans: Susan Burhouse et al., “2013 National Survey of Unbanked and Underbanked Households” (Washington, DC: FDIC, October 2014). https://www.fdic.gov/householdsurvey/2013report.pdf xv Payday lending grew

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from Silver-Greenberg, “Over a Million Are Denied Bank Accounts.” xvii “banked” (they use only banks): Burhouse et al., “2013 National Survey of Unbanked and Underbanked Households.” One in five African American households: Ibid. “mainstream banking services”: Julie Menin, “Bad Alternative to Banks,” letter to the editor, New York Times, November

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Decline of the American Dream (Oxford, UK: Oxford University Press, 2008). A recent study conducted by: Burhouse et al., “2013 National Survey of Unbanked and Underbanked Households.” xix put their trust in banks: GlobeScan, “Seven Years on from the Financial Crisis, Trust in Banks Remains at All-Time Low” (Toronto, Ontario

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, 2015). http://www.cfsinnovation.com/Document-Library/Understanding-Consumer-Financial-Health Consumer Financial Protection Bureau: Susan Burhouse et al., “2013 National Survey of Unbanked and Underbanked Households” (Washington, DC: FDIC, October 2014). https://www.fdic.gov/householdsurvey/2013report.pdf 57 percent of Americans: For more on this idea and why it

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.” Bankrate.com, September 28, 2001. Burhouse, Susan, Karyen Chu, Ryan Goodstein, Joyce Northwood, Yazmin Osaki, and Dhruv Sharma. “2013 FDIC National Survey of Unbanked and Underbanked Households.” Washington, DC: FDIC. Calum, Paul S. “The Impact of Geographic Deregulation on Small Banks.” Business Review, November/December 1994. Campbell, Dennis, Asis Martinez-Jerez

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Small-Dollar Loan Pilot Program: A Case Study After One Year.” FDIC Quarterly, vol. 3, no. 2 (2009). –––. “2013 FDIC National Survey of Unbanked and Underbanked Households.” Washington, DC: FDIC, October 2014. Federal Reserve. “Changes in US Family Finances from 2010 to 2013: Evidence from the Survey of Consumer Finances.” Federal

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loans, xv, 124–27, 131–34 in innovation, 146 of millennials, 111–12, 118 Truth in Lending Act (TILA, 1968), 200n43, 209n68 U un- and underbanked, xvi–xvii, 44, 147, 165. See also financial exclusion underground economy. See informal savings and loans unemployment, 50, 64, 73–74, 107–8 Uniform Small

The Color of Money: Black Banks and the Racial Wealth Gap

by Mehrsa Baradaran · 14 Sep 2017 · 520pp · 153,517 words

communities lose access to banks. As a group, blacks are more unbanked than any other race—60 percent of the black population is unbanked or underbanked, while only 20 percent of whites are in the same category.15 What this means is that blacks disproportionately rely on fringe banks, leading to

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.87 Most black neighborhoods are “banking deserts," neighborhoods abandoned by mainstream banks.88 The FDIC’s surveys on the “unbanked and underbanked" reveal that 60 percent of blacks are either unbanked or underbanked.89 In striking contrast, only 3 percent of whites do not have a bank account and 15 percent are

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underbanked. Those without bank accounts pay up to 10 percent of their income, or around $2,400 per year, just to use their money.90 That

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.bostonfed.org/commdev/c&b/2014 /summer/whom-do-black-owned-banks-serve.htm. 15. Federal Deposit Insurance Corporation, 2013 FDIC National Survey ofUnbanked and Underbanked Households, October 2014, 16, https://www.fdic.gov /householdsurvey/2013report.pdf. 16. Paul Kiel and Annie Waldman, “The Color of Debt: How Collection Suits Squeeze

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_Banking /paper_90.pdf. 89. Susan Burhouse, Karyen Chu, Ryan Goodstein, Joyce Northwood, Yazmin Osaki, and Dhruv Shar, “2013 FDIC National Survey of Unbanked and Underbanked Households," FDIC, October 2014, https://www.fdic.gov/householdsurvey /2013report.pdf. 90. KPMG, “Serving the Underserved Market, 2011," 1, http://www.kpmg.com/US /en

How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy

by Mehrsa Baradaran · 5 Oct 2015 · 424pp · 121,425 words

is more than the total number of people who voted for Barack Obama (or Mitt Romney) in the 2012 election.7 The term “unbanked” or “underbanked” describes a group of people who rely on fringe lenders, but these terms underestimate the problem. An even larger and less quantifiable number of people

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his firm to invest in and claimed that the answer to banking the unbanked lies in technology creating new products. He explained that because the underbanked consist of not only the poor but over a third of the public, this was a trillion-dollar “mass market” they hoped to enter. As

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findings regarding the potential for mobile banking to offer a platform for financial inclusion.78 The findings showed that the large majority of unbanked or underbanked households have access to mobile phones, and at least for those who cite “inconvenience” as a barrier to banking, mobile banking promises to take banking

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Trust, 2012, 32, accessed March 17, 2015, www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_assets/2012/PewPaydayLendingReportpdf.pdf. 56. FDIC, “National Survey of Unbanked and Underbanked Households,” Executive Summary, September 2012, 5, accessed March 17, 2015, www.fdic.gov/householdsurvey/2012_unbankedreport_execsumm.pdf; Gregory Elliehausen and Edward C. Lawrence, “Payday

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March 17, 2015, www.nber.org/papers/w17072; A 2011 FDIC survey put 29.3 percent of households without a savings account. FDIC, “Unbanked and Underbanked Households,” 3. 62. Dan Mangan, “Medical Bills Are the Biggest Cause of U.S. Bankruptcies: Study,” CNBC, June 25, 2013, accessed March 17, 2015, www

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/business/archive/2014/07/its-expensive-to-be-poor-money/374361/. 8. Barr, No Slack, 120. 9. FDIC, “2013 FDIC National Survey of Unbanked and Underbanked Households,” October 2014, accessed March 17, 2015, www.fdic.gov/householdsurvey/2013report.pdf; University Neighborhood Housing Program, “Banking in the Bronx: Assessing Options in a

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Historically Redlined and Underbanked Borough,” April 2012, accessed March 17, 2015, www.unhp.org/pdf/BankingInTheBronx.pdf. 10. “In fact, the ABA says, the annual cost of a checking

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.huffingtonpost.com/2014/08/29/free-checking-accounts-down_n_5730166.html?1409312196. 25. FDIC, “Addendum to the 2011 FDIC National Survey of Unbanked and Underbanked Households: Use of Alternative Financial Services,” June 2013, accessed March 17, 2015, www.fdic.gov/householdsurvey/2013_afsaddendum_web.pdf. Michael Barr’s survey results

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will open checking accounts, and 81 percent of banks require third-party screens to open savings accounts. FDIC, “Banks’ Efforts to Serve the Unbanked and Underbanked,” December 2008, 11, accessed March 17, 2015, www.fdic.gov/unbankedsurveys/2008survey/index.html. 27. Ibid., 193. The number of individuals currently on record is

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, September 1984, 685, accessed March 17, 2015, www.federalreserve.gov/econresdata/scf/files/1983_bull0984.pdf. 54. FDIC, “2013 FDIC National Survey of Unbanked and Underbanked Households: Executive Summary,” Oct. 2014, 3, accessed March 17, 2015, www.fdic.gov/householdsurvey/2013execsumm.pdf. 55. See, e.g., David Malmquist et al., “The

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/blogs/economist-explains/2013/05/economist-explains-18. 78. “[Sixty-nine] percent of the unbanked … [and] 88 percent of the underbanked have access to a mobile phone … 39 percent of underbanked consumers have used mobile banking in the past 12 months.” Federal Reserve Board of Governors, “Consumers and Mobile Financial Services 2014

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Issues in Banking” (Jan 2003), accessed April 7, 2015, www.fdic.gov/bank/analytical/fyi/2003/012903fyi.html. 13. FDIC, “National Survey of Unbanked and Underbanked Households,” Executive Summary (September 2012), 4. Available at www.fdic.gov/householdsurvey/2012_unbankedreport_execsumm.pdf. 14. The United States Postal Service is an independent

No Slack: The Financial Lives of Low-Income Americans

by Michael S. Barr · 20 Mar 2012

2001). Recent literature sometimes refers to these households 12864-01_CH01_2ndPgs.indd 3 3/23/12 11:54 AM 4 michael s. barr as “underbanked,” although that of course assumes the outcome of the empirical analysis is that these households need more banking. The high costs of alternative financial services

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J. White. 2002. “The Household Bankruptcy Decision.” American Economic Review 92:706–18. FDIC (Federal Deposit Insurance Corporation). 2009. FDIC National Survey of Unbanked and Underbanked Households (www.fdic.gov/householdsurvey/full_report.pdf). FRS (Federal Reserve System). 2010. The 2010 Federal Reserve Payments Study (www. frbservices.org/files/communications/pdf

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of their financial business— such as cashing checks, buying money orders, paying bills, or taking out payday loans. One might think of these families as “underbanked,” in the sense that formal financial institutions are not offering them the products and services they need in their daily lives, even though they have

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12864-02_CH02_3rdPgs.indd 31 3/23/12 11:55 AM 32 michael s. barr Figure 2-1. The Top Reasons Given by the Underbanked for Why They Were Unbanked Other reason 13% Easier without account, more control 5% Don’t have enough money 15% Unemployed 10% Bank accounts are

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Business (www.fdic.gov/bank/analytical/cfr/2005/jan/ CFRSS_2005_elliehausen.pdf). FDIC (Federal Deposit Insurance Corporation). 2009. FDIC National Survey of Unbanked and Underbanked Households (www.fdic.gov/householdsurvey/full_report.pdf). Green, Paul E., and V. Srinivasan. 1978. “Conjoint Analysis in Consumer Research: Issues and Outlook.” Journal of

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Financial Institutions for the Department of Treasury.” Report prepared for the U.S. Treasury Department (April 4). ———. 2008. “Banks’ Efforts to Serve the Unbanked and Underbanked.” Report prepared for the Federal Deposit Insurance Corporation (December). Doyle, Joseph J., Jose A. Lopez, and Marc R. Saidenberg. 1998. “How Effective Is Lifeline Banking

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-purpose reloadable prepaid cards (GPR cards) are an attractive alternative to traditional bank accounts for a number of customer niches (Keitel 2011), especially unbanked and underbanked households. However, unclear consumer protections and high fees prevent GPR cards from attracting more LMI households. First, a patchwork of overlapping regulatory powers has created

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to absorb the joint location decisions of businesses and households, thereby overstating the importance of geographic access for increasing the financial welfare of unbanked and underbanked LMI households. The data that we use to investigate the question of geographic access are from the Detroit Area Household Financial Services (DAHFS) study and

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: asset holdings, 42–43, 49; demographic characteristics, 28–30, 58, 61; hardship correlations, 36–38, 56; income receipt methods, 34–36; saving behaviors, 38–42 Underbanked households, 3–4 Unemployment benefit insurance, 88 Warren, Elizabeth, 181 Washington, D.C., electronic benefit programs, 87–88 Welfare reduction debate, overwithholding, 218–19, 229

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World

by Don Tapscott and Alex Tapscott · 9 May 2016 · 515pp · 126,820 words

value. Blockchain cuts settlement times on all transactions from days and weeks to minutes and seconds. This speed and efficiency creates opportunities for unbanked and underbanked people to participate in wealth creation. 6. Funding and Investing: Investing in an asset, company, or new enterprise gives an individual the opportunity to earn

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Blockchain takes settlement times on all transactions from days and weeks to minutes and seconds. This speed and efficiency also creates opportunities for unbanked and underbanked to participate in wealth creation Investment, wholesale banking, foreign exchange traders, hedge funds, pension funds, retail brokerage, clearinghouses, stock, futures, commodities exchanges; commodities brokerages, central

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personal economic growth and prosperity. David Birch, a cryptographer and blockchain theorist, summed it up: “Identity is the new money.”25 Consider the possibilities: the underbanked of the world can enfranchise themselves as they interact with microlending outfits. Potential vendors or lenders can track their usage and repayment of tiny loans

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identity that allows them to participate equally in the economy. The implications of this equality are profound. Lubin imagines a future where the “unbanked and underbanked will become increasingly enfranchised as microlending services will enable investors across the globe to construct diverse portfolios of many microloans of which the usage and

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Bandcamp, 235 Bank of Canada, 9, 294, 296 Bank of England, 9, 294 Bankruptcy laws, 174 Banks. See also Central banks; Financial services unbanked and underbanked, 170–72, 175–78 Barclays, 68–69, 75 Barclays Accelerator, 68–69 Barhydt, Bill, 187–88 Beauregard, Steve, 297 Behavioral change, 257 Bengloff, Rich, 230

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Turing completeness, 278 22Hertz, 237–38 Twister, 246 Twoway peg, 60 Uber, 17, 118, 134, 135, 164–65, 270 Ulbricht, Ross William, 9 Unbanked and underbanked, 170–72, 175–78 Unemployment, 173 UNESCO, 249 UNICEF, 189–90 Unicoin, 190 Unique node list, 32 Universal Music, 229, 230 Usage data analytics, 233

Bank 3.0: Why Banking Is No Longer Somewhere You Go but Something You Do

by Brett King · 26 Dec 2012 · 382pp · 120,064 words

the United States who have no checking/current or savings account, and they number in the tens of millions.42 This group of unbanked or underbanked is increasing in size instead of decreasing, as conventional wisdom would dictate. Ron Shevlin from Aité Research Group aptly coined the word “de-banked” to

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2005 to $202 billion in 2012. In November 2011, the Center for Financial Services Innovation (CFSI) released new data about the 2010 underbanked market. The research found that: Underbanked consumers in the US generated approximately $45 billion in fee and interest revenue for financial services providers in 2010. The total dollar volume

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of the underbanked marketplace in 2010 was approximately $455 billion in principal borrowed, dollars transacted, and deposits held. The market has shown strong growth in certain segments: payment

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grew by two per cent in the same period. Approximately half of this group have college education, and close to 25 per cent of the underbanked segment are prime credit rated. Several individual products witnessed very high revenue growth rates between 2009 and 2010: Internet-based payday lending (35 per cent

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’s bank account is a mobile phone—who exactly is the bank? Keywords: Countrywide, MyRate, Merrill Lynch, Charles Schwab, Lead Generation, Psychology, Customer Experience, Unbanked, Underbanked Endnotes 1 Pew Research Centre figures show the internet has surpassed television as the main news source for US adults under 30 (http://www.lostremote

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, and they’re seeking instant approval capability in the near term 42 Estimates range from close to 30 million (8 million unbanked and 18 million underbanked) from census and FDIC data (http://www.fdic.gov/householdsurvey/), to estimates from the Financial Times and Lexis Nexis which put the numbers closer to

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70 million (http://insights.lexisnexis.com/creditrisk/2012/04/16/the-population-dynamics-and-credit-quality-of-the-underbanked-market/)) 43 Wall Street Journal, 17 January, 2012, “Starbucks Sees New Growth on the Card”—http://online.wsj.com/article/SB10001424052970203735304577165001653083914.html 44 Starbucks Chapter

Shortchanged: Life and Debt in the Fringe Economy

by Howard Karger · 9 Sep 2005 · 299pp · 83,854 words

other financial services involving high fees and interest rates. When the unbanked are combined with the similarly large number of people who are classified as “underbanked”—those who don’t utilize or qualify for bank services beyond maintaining an account—the market for fringe services is even larger. According to the

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Share contributions of the credit card industry. THE NEED FOR MAINSTREAM BANKS TO SERVE THE POOR Mainstream financial institutions have several important reasons for reaching underbanked and unbanked populations. For instance, banks that develop relationships with low-income consumers by providing even rudimentary services could soon foster new full-service customers

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savings and improve their credit scores, thereby lowering their costs for financial services and gaining them access to lower-cost sources of credit. To help underbanked and unbanked households to make this transition, banks must develop low-cost and innovative financial products and services. For example, in low-income neighborhoods banks

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Trevina, Javier and Ana, 130–131 Triozzi, Robert, 52 Truth-In-Lending Act, 106 tuition costs, 35 two-income families, 33 Tyagi, Amelia, 33 unbanked/underbanked customers, 19 universal default practice, 51 unsecured cash loans, 66 unsecured credit cards, 56–59 upside down equity, 30–31 U.S. housing policies, 141

Blockchain: Blueprint for a New Economy

by Melanie Swan · 22 Jan 2014 · 271pp · 52,814 words

of the worldwide population.93 Even in the United States, 7.7 percent of households are forecast to be unbanked or underbanked.94 Bitcoin neutrality means access for the unbanked and underbanked, which requires Bitcoin solutions that apply in all low-tech environments, with features like SMS payment, paper wallets, and batched

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blockchain transactions. Having neutrality-oriented, easy-to-use solutions (the “Twitter of emerging market Bitcoin”) for Bitcoin could trigger extremely fast uptake in underbanked markets, continuing the trend of 31 percent of Kenya’s GDP being spent through mobile phones.95 There are different SMS Bitcoin wallets and delivery

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. “Half the World Is Unbanked.” McKinsey & Co, March 2009. http://mckinseyonsociety.com/half-the-world-is-unbanked/. 94 “2013 FDIC National Survey of Unbanked and Underbanked Households,” U.S. Federal Deposit Insurance Corporation, updated October 28, 2014, https://www.fdic.gov/householdsurvey/. 95 Mims, C. “M-Pesa: 31% of Kenya’s

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-Step Democracy with Voting + Prediction Markets Turing completeness, Ethereum: Turing-Complete Virtual Machine Twister, Dapps Twitter, Monegraph: Online Graphics Protection U Uber, Government Regulation unbanked/underbanked markets, Blockchain Neutrality usability issues, Technical Challenges V value chain composition, How a Cryptocurrency Works versioning issues, Technical Challenges Virtual Notary, Virtual Notary, Bitnotar, and