unbanked


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un·banked

 (ŭn-băngkt′)
adj.
Not having or having never had a savings, checking, or other account with a bank.
pl.n. (used with a pl. verb)
People who are unbanked. Used with the.

unbanked

(ʌnˈbæŋkt)
adj
(Banking & Finance) informal relating to those who do not have accounts at banks or who do not use banks
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References in periodicals archive ?
The proportions of respondents who report being unbanked or underbanked in this survey are similar to those found in previous national studies, and differences can be explained in part by variation in the definitions.
UK-based LDJ Digital Bank, a unit of LDJ Capital Inc, and Share Internet Data Ltd have signed a deal with Baanx Group Ltd London to provide more services to unbanked customers.
While developing countries like Indonesia and South Africa are hardest hit, with 66 percent of Indonesia's 260 million population unbanked and 11 million people either unbanked or underbanked in South Africa, few countries are immune.
In line with the Central Bank of Nigeria's (CBN's) target of achieving 95 per cent financial inclusion rate by 2024, a Lagos-based financial services firm, Financial Derivatives Company Limited has disclosed that by securing Payment Service Bank (PSB) license from the CBN, MTN is targeting to bring into the financial system, between 40 million and 60 million people in the unbanked adult population in Nigeria.
992, 1 February 2018), which meets the need of the unbanked for a low-cost, no-frills deposit account which they can open even without standard identification documents; and the branch-lite regulation (Circular No.
Gokongwei-affiliated fintech Cashalo has helped over a million unbanked Filipinos build financial identity after one year of operations, harnessing proprietary technology to promote financial inclusion.
As a way of further bolstering its long-standing efforts to reach out to members of underprivileged sections of society, Telenor Microfinance Bank, one of Pakistan's leading microfinance bank, aims to serve the unbanked and under-banked members of society as well as empower them by delivering quality financial services, thereby paving the way for greater financial inclusion.
The TNG and Visa partnership will explore enabling secure payment for online and face-to-face for the underserved as well as unbanked segments in the region.
The Cebuana Lhuillier Rural Bank (CLRB) is expanding its branches to strategic cities this year to further strengthen its footprint in providing convenient basic financial services and encourage roughly 70 million unbanked Filipinos to open savings bank account for the first time through its network of 2,500 pawnshops and remittance centers scattered nationwide.
The Bangko Sentral ng Pilipinas (BSP) issued Circular 992 which sets out a framework for banks to promote a basic deposit account for the unbanked.
In market penetration, the bank has embarked on a strategy to tap into a new market (unbanked individuals) by creating a specialised programme, tailoring a bundle of products and opening new branches to 'come closer' to this segment.
According to Aamir Ibrahim Telcos such as Jazz form the basis of mobile banking solutions set up which allow financial inclusion for the country's poor and unbanked population.