An individual is said to be unbanked when they do not hold any accounts at a bank or credit union. Households are unbanked when none of their members are bank account holders. While unbanked people do not have accounts like checking, savings, or money market accounts, they often make use of services like checks to cash, payday lending, rent-to-own services, and auto title loans (Wagemann, 2021).

According to CoinDesk, A flash loan is a relatively new type of uncollateralized lending that has become popular across a number of decentralized finance (DeFi) protocols based on the Ethereum network (Hertig, 2022) [1] .