Walking2TheBank.... Not Surprising. The market for this fight is Latinos and Hispanics which are known to be in 'cash-culture' so I would imagine the bulk of the business will be walk-up and not online.
Check out this article about Citibank:
Citigroup's outreach efforts focus on helping Hispanics -- especially the Traditionals and Bi-Culturals -- overcome what Vargas called the Hispanic population's "barriers to financial services ... Hispanics may lack identification or proof of address. They are unfamiliar with what the (banking) products and services are, due to lack of access in their country of origin. They feel intimidated dealing with a financial institution. Culturally, they have been used to living in a cash-culture basis. And Hispanics usually prefer face-to-face interactions and acquire products through word of mouth."
Given this environment, Vargas said, Citigroup "developed an overall strategy to target these segments" that included providing bilingual services and bilingual marketing materials; accepting specific Mexican forms of identification issued by Mexican consulates to open U.S. bank accounts; offering bank-to-customer communications that reflect the Hispanic financial culture and provide more one-on-one explanation within the Hispanic community; recognizing and catering to the Latino woman as the financial head of the household and the one who starts businesses, applies for a mortgage or secures loans; and launching a money remittances service to capitalize on what the Pew Hispanic Center in Washington, D. C. estimates is nearly $30 billion in remittances flowing each year from Latinos in the United States to Latin America. "Indeed, for many migrants the ability to support family members through remittances is an important motive for coming to the United States."
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