Financial Education for Kids: Creating a financially inclusive society

11/17/22 • 36 min

Forming good habits takes time. But for some young people, forming the right ones around managing finances happens either far too late, or not at all. And as new financial products emerge, and as our relationship with cash becomes more abstract, the task of teaching children how to manage money is getting more complicated. So complicated in fact, that even the schools can't keep up. But what if learning how to balance the books wasn't just left up to the schools? What if institutions could help share the load?

In this special three-part series of Financial Futures, we're exploring the work FIS is doing by partnering up with fintechs and entrepreneurs to shape the future of the financial services industry. And on today's episode, we learn how one institution is taking on the mission of teaching young people how to manage money, and we ask who should be responsible when it comes to educating children about finances. We also find out how good financial education helps to promote financial inclusivity, and we discover the societal benefits that come with having a money-matter-savvy young population.

We'll be joined by co-founder and COO of goHenry, Louise Hill, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly, to discover how goHenry is bridging the financial education gap in young people's learning, and to find out how the financial services industry is proactively trying to foster a more financially inclusive society.

We'll also ask:

How does better financial knowledge help in securing a better future for young people?
What do institutions need to do to create a financially inclusive society?
How do we teach children to form good money-management habits?
What are the pillars of strong financial education?
Who is responsible for teaching young people to manage money?
How has going cashless affected children's understanding of money?
How is goHenry helping young people to learn about money in a safe environment?

We'll also ask:

How does better financial knowledge help in securing a better future for young people?
What do institutions need to do to create a financially inclusive society?
How do we teach children to form good money-management habits?
What are the pillars of strong financial education?
Who is responsible for teaching young people to manage money?
How has going cashless affected children's understanding of money?
How is goHenry helping young people to learn about money in a safe environment?

Previous Episode

Disruptive Themes and Key Trends

For every successful technological solution, there are dozens more relegated to history. Betamax, Zune mp3 players, Google Glass. All three were part of industries that saw enormous success (home video, digital music, and augmented reality); however, these products never won the battle for supremacy. So what separates the successes from the failures? What makes a trend long-lasting? And how do you determine which new technologies to place your investment dollars in?

In short, how do you identify the right disruptive themes and key trends?

In this episode of Financial Futures, we examine the emerging trends, themes, and technologies that could form the groundwork for the future of financial services. We find out how institutions can distinguish between game-changing trends and flavors of the month, and we ask what organizations can do to future-proof their investments and back the right emerging technologies.

In today's episode, we speak with Vice President of Future Exploration and Ventures at FIS, Ed Barker, to find out how institutions can look to the past to make better predictions about the future. And we'll find out how investors and fintech founders can set themselves up for success in economically volatile times.

We'll also ask:

How can financial institutions separate important trends from all the noise?
What are the current themes affecting the financial services sector?
How could emerging technologies transform the way consumers interact with financial services?
What will the rise of embedded finance mean for traditional financial institutions?
How will the cooperation between startups and corporates drive the evolution of fintech?

Next Episode

Helping FIs Help the World: ESG and BPO

ESG has become an increasingly important factor for investors over the years, but, recently, it's become a top priority for customers, and even employees, too. And with this increased pressure to be seen to be doing good, financial institutions are looking for new ways to improve their environmental, social, and governance credentials. However, finding ways to boost these efforts aren't always easy wins and organizations need help to work out where improvements can be made - and this is where transformative business process optimization can help.

In this episode of Financial Futures, we learn how transformative BPO is helping financial institutions not only to streamline their processes and find new efficiencies, but also how it is facilitating organizations' ability to meet their own ESG goals. We debunk some of the myths around BPO and we explore a real-life example of one institution's journey to better ESG through Transformative BPO.

Joining us today are sales lead of business process transformation and resourcing at FIS, Simon Penny, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly. We discuss why ESG is so top-of-mind for everyone from investors to customers, and we reveal why good ESG starts with a thorough self-assessment of processes.

We'll also ask: