Ensuring Consumer Access to Banking by Embracing Better Data

Ensuring Consumer Access to Banking by Embracing Better Data

The Federal Deposit Insurance Corporation (FDIC) classifies 70 million adults as either "unbanked" or "underbanked;" Javelin Strategy & Research estimates that "just over one-in-four Americans" fall into these categories. Regulatory bodies have made their expectations clear: They want more of these consumers given access to traditional financial services. Banks must ensure that all consumers are treated fairly when seeking to open a new checking account and that applicant screening services utilize accurate, complete and up-to-date information. Is your financial institution doing everything necessary to remain compliant?

From this white paper, you will learn the following key takeaways:

  • How to expand your customer base and onboard new customers with confidence
  • How to utilize screening solutions to tailor product offerings and account privileges while managing risk
  • How to improve operational efficiencies and compliance requirements

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