Raising the Mobile Banking Bar to Reach "Underbanked," According to Javelin - Page 2
Javelin Identifies the “Mobile Underbanked Consumer” as Strategic Market Segments
- The U.S. underbanked are less likely to own computers than all mobile consumers (60% vs. 72%).
- Underbanked use mobile banking at higher rates than other consumers. 32% of unbanked used mobile banking in past 30 days compared to 25% for all mobile consumers.
- Gen Y income is on the rise. In less than five years, Gen Y and Gen X incomes will outpace those of all other generations. By 2025 Gen Y will be responsible for almost half (46%) of total personal income.
For additional details or to purchase Javelin’s report, click here: Reaching Underbanked and Unbanked Consumers in 2012: Strategies for Connecting with Mobile Financial Services.
Related Javelin Research
- 2011 Mobile Banking Financial Institution Scorecard: Money Begins to Move on Mobile
- Prepaid Cards and Products in 2012: Enabling Financial Access for Underbanked and Gen Y Consumers
- Engaging the Underbanked and Unbanked in the U.S.: How to Target the Growing Immigrant Population Through Mobile Financial
- Mobile Banking, Smartphone and Tablet Forecast 2011‐2016: Mobile Banking Moves Mainstream to Mid‐sized, Community Banks and Credit Unions
About Javelin Strategy & Research: Javelin Strategy & Research provides strategic insights into customer transactions, increasing sustainable profits for financial institutions, government, payments companies, merchants and other technology providers. Javelin’s independent insights result from a uniquely rigorous three-dimensional research process that assesses customers, providers, and the transactions ecosystem.