A report from Accenture titled, "Within Reach", states that banks could tap into $380bn in market revenue, "by targeting micro-enterprises and bringing unbanked and underbanked adults into the formal financial system". That’s where Accenture Banking comes in. The report goes on to explain that a large part of this potential revenue can be attained by banks offering mobile banking services, particularly to those in underdeveloped parts of the world, including large parts of Africa. In addition, it is estimated that there are around one billion people who don't have access to bank accounts, but would like to. Alibaba in China is also highlighted, for using customers' commercial transactions recorded on its e-commerce platform to create credit records, and then conducting SME lending.
A report from Accenture titled, "Within Reach", states that banks could tap into $380bn in market revenue, "by targeting micro-enterprises and bringing unbanked and underbanked adults into the formal financial system". The report goes on to explain that a large part of this potential revenue can be attained by banks offering mobile banking services, particularly to those in underdeveloped parts of the world, including large parts of Africa. In addition, it is estimated that there are around one billion people who don't have access to bank accounts, but would like to. Alibaba in China is also highlighted, for using customers' commercial transactions recorded on its e-commerce platform to create credit records, and then conducting SME lending.