The FDIC study – take two. In my last post, I focused on the unbanked and some misconceptions about that group. Today I’d like to focus on the underbanked — those households that have a deposit account but rely on non-bank financial services. These are households that are already bank customers but are also using alternative financial services (AFS). The FDIC study provides great insight into what those AFS products are – good information for a bank that’s looking to improve cross-sales to existing clients.
