target audience: TECH BUYER Publication date: Feb 2024 - Document type: IDC PeerScape - Doc Document number: # US51445424
IDC PeerScape: Practices for Assisting the Underbanked
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Abstract
This IDC PeerScape describes four practices that financial institutions have leveraged today’s technologies to assist the underbanked.
“Overall there have been great strides in addressing the unbanked; however, there is still work to be done for those individuals who are considered underserved and often do not fully understand or qualify for financial solutions designed to help them achieve their financial goals,” says Marc DeCastro, research director for IDC Financial Insights. “Creating and leveraging solutions that can be affordable and scalable will provide the next generation of bank customers with a better understanding of what can be achieved, but fintechs and banks must work together to address this issue.”