In fact, 17 percent of industry players that entered banking over the last 13 years have grabbed one-third of revenue growth in Europe. 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 Europe . It highlights Alibaba , which has one-third mobile banking customers, who previously had no access to traditional financial services. 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 Europe . It highlights Alibaba , which has one-third mobile banking customers, who previously had no access to traditional financial services. 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.