Finding and Reaching Un-Banked Consumers in Ghana

Fraym analyzed Ghana's consumer banking market to illustrate opportunities for a bank to gain market share among un-banked consumers.

Our analysis had two goals:

  • Identify new potential customers - specifically un-banked households who have the means to adopt financial products
  • Pinpoint the best agent or branch locations to reach these customers

How did we accomplish this?


Characterize the ideal banking customer

First, Fraym used proprietary consumer data to build a customized profile of households most likely to adopt bank accounts.
In addition to rich socioeconomic and demographic data, this target customer profile included critical details such as:

The heads of banked households are four times more likely to have completed secondary education.


On average, banked households out-earn unbanked households by $150 per month.

Banked households are more likely to own assets like refrigerators and televisions.


Construct a precise target consumer profile

Fraym combined this consumer profile with earnings data to identify un-banked households that are on the verge of adopting financial accounts.

For example, our analysis showed that un-banked households start adopting bank accounts when their income tops $1100 per year.

$500 - 1100 $1100 - 1700


Identify the best places for strategic expansion

Bringing all of this consumer data together, Fraym estimates concentrations of target customers across Ghana -- with precision down to a few square kilometers.

These customer concentrations powerfully illustrate the best potential locations for new branches, new agent bankers, or new digital banking campaigns.