When it comes to short-term lending, there is a persistent assumption that the service is strictly for lower‑income consumers who have few options for accessing funds. However, consumer surveys show that a significant portion of higher-educated, higher-income respondents also want access to short‑term funds.
The 2020 Emergency Funds Survey, commissioned by third-party consultant FutureNet in partnership with Fiserv, shows a significant portion of higher-educated, higher-income respondents also want access to short‑term funds.
Read our POV paper to see why short-term lending can be advantageous to a variety of consumer types as well as the financial institutions looking to foster proactive, long-term relationships with those consumers.
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