Underbanked

Underbanked

The underbanked are people or businesses that have poor access to mainstream financial services such as banks and so rely upon alternative financial services targeted at poor people such as cheque cashers, loan sharks and pawnbrokers They may be distinguished from the "unbanked" who have no banking facilities at all. [citation|url=http://books.google.com/books?id=oPDpI6nypmEC&pg=PA299|title=Building assets, building credit|author=Nicolas Paul Retsinas, Eric S. Belsky|pages=299|year=2005|publisher=Brookings InstitutionPress]

Distribution

Small countries have less banking provision than large countries even allowing for the smaller size of their economies. [cite book|title=Globalization and National Financial Systems|url=http://books.google.com/books?id=RsgIA8NiyzIC|pages=91|author=James Hanson|chapter=4|publsiher=World Bank]

Remediation

There are many microfinance initiatives such as the Grameen Bank which aim to improve the provision of banking and financial services to poor communities.

References

Further reading

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