Explore the Data to Understand the Opportunities
When designed responsibly, financial services have the potential to provide customers with attractive substitutes for expensive alternative financial services. This can reduce financial stress and increase financial security.
The Boston Fed’s data analysis and research seeks to understand where and what kind of financial services can better serve the public. We provide tools and insights to help stakeholders identify gaps and design solutions.
Interactive Maps
Explore the map to see where underbanked communities are located, which products and services they are using, and where there may be opportunities to serve them better.
FDIC Data Map: Get information on underbanked and unbanked households by state and metropolitan area.
Survey Insights: Key Findings From Alternative Financial Services Users
Finding #1: Survey Respondents Cited Money Orders As Their Most Frequently Used Alternative Financial Service
Money orders were the type of alternative financial service most used by survey participants. That was followed by retail non-bank bill pay and earned wage access, which gives employees access to money they’ve earned before their traditional pay day.