Developing Inclusion With Digital Products

Things that seem routine to some of us can present monumental challenges to others. For someone just starting out, coming up with the cash for a security deposit can be a major stumbling block. Then there are the billions of adults worldwide who have to pay cash — or not pay at all — because they lack an easy-access on-ramp for digital. Building for the digital future isn’t just inclusive — it can also be lucrative, as digital customers (particularly on mobile) tend to spend more. But getting there requires building infrastructure and, though European banks are almost there when it comes to API plans, U.S. banks still have some catching up to do.

92 percent: Share of European banks that have an API strategy in place

82 percent: Share of U.S. banks that have an API strategy in place

2 billion: Number of unbanked or severely underbanked consumers worldwide

30 percent: The amount more mobile users spend at gas stations compared to non-mobile users

$10: Starting monthly cost for Obligo’s security deposit replacement credit product