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    Refers to those people who do not use banks in any capacity. Unbanked persons tend to pay using cash, and include those who mistrust the banking system, poor people who can’t maintain minimum balances and criminals who want to avoid being tracked.

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    Justin Chan
    Dr Justin Chan founded datadriveninvestor.com, a media and tech application platform designed to help fund managers, individual investors and data scientists uncover outstanding sources of alpha from data. Previously, he specialized in strategy development in a number of hedge funds and served as a senior quantitative strategist at GMO. An expert in microstructure, market liquidity, and behavioral finance, Dr. Chan holds a doctoral degree from UCLA and served as a finance professor at Singapore Management University. He can be reached at [email protected]