Paper Title
Technology Innovation to Bridge the Gap Between Banks and Unbanked Population in the European Union

This paper aims to present a possible solution to the problem of financial exclusion. Banks are mainly focused on serving clients with high life-time value and on trimming costs, while unbanked people, due to several psychological, cultural and educational factors, are not interested in banking products and services. This article focuses on a particular segment of population, that is exposed to a greater risk of financial and social exclusion – migrant workers and their families. The study presents an innovative instrument of receiving remittances – as a possible mechanism to bridge the gap between banks and unbanked population in the European Union (EU). Keywords: technology innovation, banks, unbanked population, migrants, remittances