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American Banker

RBC Experiment Points Way for Branches to Serve Poor

RBC Experiment Points Way for Branches to Serve Poor

Like many businesses, banks have had trouble figuring out how to serve low-income neighborhoods.

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RBC Experiment Points Way for Branches to Serve Poor
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Like many businesses, banks have had trouble figuring out how to serve low-income neighborhoods. It is easy to understand why. Conventional business thinking says you should focus on your most profitable customers, and those with lower incomes cannot afford your services. Many banks simply cannot find a way to create a viable business in this sector. For years community groups across North America have tried to figure out how banks can change this. A Royal Bank of Canada initiative may point the way.

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