27.7% of American households are either unbanked or underbanked

Nearly a third of American households rely primarily on non-traditional financial services to manage their money.

Many of these households are interested in opening DDA accounts, but obstacles stand in their way:

  • Account-screening services used by most banks and credit unions have difficulty verifying the identities of thin-file and no-file applicants and assessing them for risk.
  • Most mobile banking solutions lack account opening features, preventing mobile-only users—including many financially underserved consumers—from opening accounts online.

Read this paper to learn how data-driven insights can help financial organizations address all these challenges and grow accounts with the nearly 30% of Americans who are financially underserved.

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