IDC PeerScape: Practices for Assisting the Underbanked

IDC PeerScape Figure

• Figure: IDC PeerScape: Financial Institutions — Practices to Assist the Underbanked

Executive Summary

Peer Insights

• Practice 1: Utilize Modern Banking Platforms Designed with Financial Inclusion as a Component

• Challenge

• Examples

• Varo Bank

• MoCaFi

• Guidance

• Practice 2: Work with Central Banks and Community Endeavors Looking to Provide More Financial Literacy

• Challenge

• Example

• Reading Cooperative Bank

• Guidance

• Practice 3: Deploy Solutions in Both Self-Service Digital Channels and In-Person Experiences That Can Be Native Language Ready

• Challenge

• Examples

• Wells Fargo

• Reading Cooperative Bank

• Guidance

• Practice 4: Use Analytics Tools That Can Identify Patterns of Predatory Practices to Create an Outreach Program

• Challenge

• Example

• Founders Federal Credit Union

• Guidance