Underbanked financial services : The Underbanked Dilemma
In a world where financial services are often touted as essential for a thriving life, it is perplexing that millions still navigate their everyday transactions without proper access to traditional banking systems. Enter the underbanked population: these individuals may have a bank account (perhaps to receive their paycheck or deposit some spare change), but they are often reliant on costly alternative financial services like payday loans and check-cashing storefronts. Imagine needing to pay your bills, but your bank is as elusive as the last cookie in a shared jar—just out of reach and leaving you to race against time and fees.
