The systemic barriers preventing Latinos from accessing financial services not only have a negative impact in this demographic, but they're also a missed opportunity for financial institutions who are not seeking to attract them.
A new report by McKinsey, titled "The economic state of Latinos in America: Advancing financial growth," shoes that revenue from Latino households and small to medium-sized businesses (SMBs) already amounts to $170 billion. The figure is expected to organically grow to roughly $265 billion by 2030, amounting to 8% of the entire financial services market.
