Ironically, the banking and finance industry is one of thelargest employers of the underbanked, according to FactorTrust, aleading financial reporting and statistic firm which has publishedits first FactorTrust Underbanked Index.
|“Our goal in launching this quarterly index is to share theknowledge we've been able to mine from our database of millions ofrecords related to underbanked consumers. We want to empowerlenders to reach these consumers effectively as well as educate abroader audience about who these consumers are,” said GregRable, CEO of FactorTrust.
|“With this inaugural quarterly index, we help define this subsetof consumers to show how valuable they could be to financialservices decision makers,” Rable said.
|According to the firm's data, the banking and finance sector,which includes credit unions, employs 11% of the nation'sunderbanked consumers, or about the same percentage of underbankedconsumers that rely on disability or retirement benefits.
|The leading employers of underbanked consumers are retail stores(24%) and governments (17%), the firm reported.
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