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How Banks Can Reach Hispanic Consumers

Posted by Kathy Peters on November 1, 2018

As retail banks and other financial institutions set their sights on the future, they see a landscape filled with growing disruption. In addition to the rapid adoption of new technologies, the industry also realizes that U.S. consumers of the future are likely to be more racially and ethnically diverse. Among multicultural consumers in the United States, Hispanics are the fastest-growing group, expected to account for over half of all population growth by 2020.

Presenting financial products in a way that appeals to Hispanic-American consumers is a growth goal for many in the industry. But survey data show that banks have a long way to go in this area.

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The Great Unbanked: How Language Access Can Help Financial Institutions Reach an Under-Served Market

Posted by David Bethea on October 22, 2018

For a majority of Americans, banking is just a part of life. However, roughly a third of the population has little or no access to a bank, according to the FDIC’s most recent National Survey of Unbanked and Underbanked Households.

That means banks and other financial institutions looking to expand their reach have a tremendous opportunity to do so by reaching this group - provided they use the right approach. Here’s a look at the unique needs of unbanked and underbanked populations and what organizations can do to bridge the gap.

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NEW eBOOK: Multicultural Consumers & the Bank of the Future

Posted by Todd Sanislow on October 18, 2018

Banks, mortgage companies, consumer lenders, credit card issuers, payments networks, auto lenders and leasing entities are all staring into a future filled with disruption.

There has been much talk about the “bank of the future.” Conversation has centered on offering appropriate technology and channels, but there is one critical element that is frequently missing: language.

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Infographic: Why Financial Services Are Banking on Multicultural Consumers

Posted by Greg Holt on February 28, 2018

The potential for new revenue among multicultural consumers is significant for the financial services industry. On average, this diverse market is younger and growing faster than the “general market,” and that represents real growth for the future. Part of this diversity includes the consumer's preferred language.

To connect with all generations of multicultural consumers now, organizations must communicate in the languages those consumers understand best and that resonate with them. With language access built into all consumer touch points, financial services firms can build relationships, as well as be more successful offering financial products and services to help consumers achieve their goals.

This infographic illustrates the enormous opportunities financial services organizations have to reach multicultural consumers and how language access fits in.

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U.S. Banks Can Boost Revenue by Helping Immigrants

Posted by Bill Brewer on April 2, 2015

U.S. banks can boost revenue by helping immigrants through a language access program.Rosa Lopez is a single mother who was born in Oaxaca, Mexico. She works seven days a week as a janitor in an office building and has raised her two children with one burning desire first and foremost in her mind:

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