Proof Point
Though unbanked U.S. consumers were twice as likely to have no mobile phone than banked consumers in 2015, eight in ten unbanked consumers owned at least a basic phone
U.S. Consumer Mobile Phone Ownership by Banking Status
2015 (percentage)
| Note: | Based on Social Science Research Solutions (SSRS) random-digit-dialing telephone survey of 1,339 banked and 671 unbanked consumers from Oct. 2 through Nov. 3, 2015 with 2.6% margin error |
Proof Point Findings
- Banked vs Unbanked – Banked consumers have accounts in insured financial institutions, while unbanked consumers have no access to financial services
- Mobile Phone Ownership – Majority of both banked (92%) and unbanked (85%) consumers had mobile phones, despite unbanked being twice more likely to have no cellphone, in 2015
- Mobile Banking Opportunity – Financial institutions have opportunity to introduce financial products and services unbanked consumers may use through their mobile phones
- Key Growth Drivers – Include increasing accessibility of financial products and services, proliferation of startups offering alternative banking services, growing demand for financial insurance and security, improving household monthly income and employment rates, and strengthening regulations to promote more inclusive financial services
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
June 15, 2017
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