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Monday, April 8, 2013

11:45 AM - 12:30 PM

RETAINING, GAINING AND CAPTIVATING THE UNBANKED, UNDERBANKED, AND NOW THE DEBANKED WITH GPR PROGRAMS

Miriam Alejandro, Business Leader, Consumer Prepaid Products, VISA, INC.
Abbe Conrad, VP, FIRST DATA

There is a growing number of unbanked, underbanked and a new category of consumers called Debanked," those who are looking to escape the traditional banking system not because they have to but because they want to according to Aite Group's recent report.Financial institutions have an opportunity to retain and/or gain customers in these segments that represent at least 68 million adults according to the FDIC, through the implementation of prepaid general purpose reloadable (GPR) solutions targeted to their specific needs. We will discuss how banks can launch a 'counter attack' on the loss of consumers to new and emerging merchant-based prepaid solutions. First Data will share findings from proprietary research looking at these consumer segments including why they are unbanked and under banked, what current financial products these consumers are looking for, what brands they consider to be financial services, what technologies they are using now, and what would encourage them to become "banked."

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