A report by the Corporation for Enterprise Development that analyzes data from the Federal Deposit Insurance Corp. says South Florida has more residents without bank accounts than any other place in the United States. These residents include unemployed low-income workers, immigrants wary of financial service providers, and Millennials unfamiliar with bank services. Miami has the most unbanked households among large U.S. cities (20.1 percent) and is among the cities with the highest number of underbanked individuals (21.4 percent), who have accounts but often rely on payday loans and check-cashing services. Center for Financial Services Innovation President and CEO Jennifer Tescher says the underbanked market is a $78 billion business, and banks and other credit and financial services organizations have an opportunity to provide them with necessary banking services. "They are people who either don't have a bank account or the account they have is not fully meeting their needs. They don't have access to the high-quality financial products and services that meet their needs." However, experts say banks wanting to reach this segment must first earn their trust.