Limited access to basic financial services is not only an issue for people in developing countries. Even in North America, there are still a substantial amount of underbanked and unbanked individuals.
According to research by Mintel, 34 percent of Canadians are either underbanked or unbanked. That means that over a third of Canadians do not have either a chequing or savings account, only have a chequing account or who use only alternative financial providers, as they have no formal bank accounts. While in the United States, around 28 percent of the population is underbanked or entirely unbanked...
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