Division of Depositor and Consumer Protection, by: Susan Burhouse, Matthew Homer, Yazmin Osaki, Michael Bachman. This white paper is presented for discussion purposes and does not represent official policy views of the Federal Deposit Insurance Corporation.
This white paper considers how mobile financial services (MFS) can help increase financial inclusion among the unbanked and underbanked (collectively referred to here as the underserved). Although banks are rapidly making MFS available to their customers, additional steps could be taken to implement MFS in a way that draws underserved consumers more comprehensively into the banking system.