Prepared for Egeria | Delivered May 19, 2020
The Global Unbanked Market
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To determine the global market for the unbanked/underbanked population in the U.S. and globally.
Across the Globe
Globally, a total of
people do not operate a banking account, according to a recent study by the World Bank.
Across the globe, the North American region accounts for the least unbanked population, with only
of the population without a banking account.
The Arab region accounts for the highest proportion of unbanked adults in the world, with
of the population without a banking account. This is followed closely by Sub-Saharan Africa, where there are
unbanked adults, representing
of the population.
In the United States, only
of adults do not operate a banking account, while another
of the population is believed to be underbanked.
The unbanked and underbanked population in the U.S. skew heavily towards Black Americans. Only
of White Americans do not own a banking account, with another
believed to be underbanked. For Black Americans,
of the population do not operate a banking account, with another
believed to underbanked.
According to a recent article by Citi Group, Americans who choose to avoid banking institutions do so primarily because they do not have
to meet the minimum balance requirements and associated fees.