Where there are underserved consumers looking to enter the digital ecosystem, there are innovators big (and, in some cases, very big) and small looking to serve them. But where there are new opportunities for access or speed, fraudsters and cybercriminals are sure to follow. And not all threats or risks come from bad guys – there’s also plenty of risk associated with good financial transactions, like underwriting going bad through mass defaults. Lots to manage, lots of warning lights to watch – and a lot of consumers awaiting risk-proofed innovations.
Data:
$1.3 trillion: The amount of corporate debt of public companies with listed debt instruments.
$500 million – $1 trillion: Estimated range for the amount of money laundered globally each year.
27 percent: Share of American consumers who are unbanked or underbanked, according to the FDIC.
64 percent: Share of countries that face significant risk for financial crimes like money laundering.
24 percent: Share of American consumers who make all their purchases with cash.