USING DATA TO DRIVE GROWTH AND ENGAGEMENT
SERVING THE UNDERSERVED HISPANIC IMMIGRANT POPULATION IN THE U.S
According to estimates, more than 20 million Immigrant Hispanics have blended long ago into the mainstream American market, which corporations are increasingly courting.
Figures on how much undocumented workers spend are hard, if not impossible, to come by. But researchers from the Federal Reserve to PricewaterhouseCoopers predict that the Hispanic and immigrant economy will grow rapidly as those populations soar in the coming years.
More than $60 billion is sent abroad by immigrants each year and for those who send money to their loved ones internationally, places like Western Union and MoneyGram charge service fees that eat into their hard-earned cash. While most fees hover around the $5 mark, depending on the destination they can also exceed $50.
SETTLING IN THE UNITED STATES
According to The Pew Research Center, the nation’s immigrants are more settled today than they were in 1990, when the share of those who had arrived within the past 10 years peaked at 43.8%. Now, the amount of time that immigrants have spent in the U.S. has grown. In 2017, 72.2% of immigrants had lived in the U.S. for over 10 years, up from 56.2% in 1990 (but similar to the share in 1970.)
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Since this group of people have settled, they are looking for ways to participate more actively in American economy. However is very challenging to be Financially included.
THE KEY TO UNLOCK FINANCIAL INCLUSION
This group is looking to find more effective ways to manage their money. From remittance to financial services and the key to get them included in today's economy is by opening a bank account where they can be trusted.