* This chart and data were pulled from the Gig Economy Financial Services Ecosystem report by Insider Intelligence. Purchase the report here for $495 to get immediate access to the full analysis. |
Gig workers around the world have long struggled to gain access to many mainstream financial products and services because of their inconsistent cash flow and lack of substantial credit history. Now, they are emerging as one of the hardest-hit groups from the coronavirus pandemic.
With workers especially in need of innovative solutions to help them through the crisis, the already significant revenue opportunity — estimated by Mastercard to be worth $455 billion by 2023 — for financial institutions (FIs) to cater to gig workers is bigger than ever |
- Fully half of the US population is expected to do gig work by 2028, and 50% of UK workers are expected to do gig work by the end of 2020, per Kalido. Gig work is no longer niche, but a booming slice of the global labor market, and as such these workers will soon be at least half of FIs' addressable audience.
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- The time is ripe for the financial services industry to capture this monetization opportunity. Digital gig work generated $204 billion in customer volume in 2018 globally, and is projected to grow to $455 billion by 2023, per Mastercard — representing...
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| This is just a preview of the information and insights you'll find in the Gig Economy Financial Services Ecosystem report by Insider Intelligence. Purchase the report today for $495 to access the full analysis. |
