Mobile banking can snare the underbanked: Javelin research. The underbanked population is huge – about 35 million Americans, or 15% of the population – said Javelin researcher Mary Monahan in an interview but the pitch in her most recent report is twofold: Mobile banking may be the way to lure this group into a financial institution and, importantly, she insisted: "a financial institution definitely can make money on this cohort."

She added; "They are young. Their prime earning years are in front of them" – which may mean they have many decades of profitability for the financial institution that offers them the services that persuade them to deeper the relationship.

In the report Javelin defines "the underbanked" as consumers without a checking account and also "often without a primary financial institution relationship."

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