• Retail Solutions

    Cash All Checks 24/7/365 with the industry leader in high approval and low loss rates accompanied with fast times.

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  • Financial Institutions

    Underbanked Strategies that include check cashing and Immediate Credit for banked customers.

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  • Mobile Loading

    Allow prepaid cardholders the ability to safely load
    immediate funds from a check using their smartphone.

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Winning the Underbanked: How Banks Can Get an Omnichannel Upper Hand

By leveraging existing multichannel infrastructures and new, turnkey solutions for immediate good funds, banks can win back customers forced to use nonbanks to meet basic financial needs. As retail banks look for new revenue opportunities, providing services customers currently go elsewhere for deserves serious consideration. Both check cashing and general purpose reloadable (GPR) prepaid offerings are revenue-enhancing in their own right and provide all-important branch foot-traffic for cross-sell and up-sell, while also leveraging the omnichannel infrastructures banks have already invested in. In the report Winning the Underbanked: How Banks Can Get an Omnichannel Upper Hand, Celent demonstrates the key gaps in the delivery models of alternative financial services (AFS) providers and prepaid card program managers and how banks can easily get an upper hand. Simple check cashing, still in high demand, is the first step banks should consider.

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