Phil’s article touches on several of the unspoken secrets of Banking that (today) ensures traditional banking drills down into the apparent secret sauce of wealth management for the few, yet leaves untapped the mass group that are sometimes characterised as ‘unbanked’ who represent significant opportunity.
Why? The average bank will tell you behind closed doors that the ‘average’ annual profit per customer is in the range of $10. This is the classic average with the lower end being a loss. If you can add in a group such as unbanked at positive profit, you are basically off to the races. Welcome to the immigrant banking war we are about to witness. (P.S. how the ‘H’ did I miss this in my 2007 predictions!)
El Banco de Nuestra Comunidad, which targets check-cashers by undercutting them. Imagine that!
Source: Phil Windley’s Technometria | The Longtail of Banking
Bankwatch 
It’s interesting to apply Christensen’s lens of Disruptive Innovation to the unbanked. Targetting non-consumption in a market segment that the incumbents flee up market from…. Hmmmmm.