BCCH presentation

ING Financial Education program Hungary 2012

Renáta Pásztor

Dániel Lackó

June 5, 2012

June 2012 2

Contents

• Introduction

• Why financial education?

• Project phases

• Analysis on the topic

• Conclusions

June 2012 3

Why this topic?

• Local initiation, a topic equally challenging for all team members (from different areas)

• CSR – social utility

• Fits into ING Business Principles (open&clear, responsible, integrity, respect): We are socially and environmentally „RESPONSIBLE” (we will do no harm and seek positive change through our products, people and activities)

• CSR has captured a lot of attention over the past decade for two reasons:

- society’s eagerness to criticize banks’ behavior is stronger than ever and is continuing to escalate

- CSR is more relevant than ever in the context of economic crisis, it can help to build (and rebuild) trust in business

June 2012 4

Financial education of the youth

According to recent surveys the judgment of bank sector by the people is

negative:

• 37 % of Hungarian people would not like any banking relation if possible

• 22 % of people having an express spitefulness against banks

• Lack of self-caring approach

• Financial culture cannot be learnt, spread of financial culture shall be started in

young ages

Source: GFK research (2011)

According to MNB research „the most important problem is that the majority of society has not taken

part in any financial or economic training. Due to lack of appropriate basic knowledge, people have

difficulty in learning about new concepts. They are not able to pass on sufficient financial knowledge to

the next generation.”

Source: MNB paper: The Hungarian central bank’s role in developing financial literacy

„To increase our corporate responsibility in a sustainable manner by empowering kids with tools and information to grow to financially sound adults and to learn the importance of choosing financial independence.”

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Why this topic?

Financial education for school children

Our reasons for the topic selection:

• According to the ING Corporate Responsibility Report to further develop financial education initiatives is a significant goal and ambition on a global level

• The financial topic suits ING Bank’s profile - this is our profession

• ING is a commercial bank in Hungary, no compliance issue in marketing

• Lack of financial awareness in the society (one of the factors leading to economic crisis)

• It has a long term impact – educating future generations is really sustainable

• Staff involvement – a tool for motivation, team work (team building)

• Effective program: results with small investment

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Analysis & Conclusions

Analysis phase

Research

• Geographical coverage

• Competitors / Peers

• School interviews

• Targeted age group

• Topics and presentation method

• Timing

Conclusions

• We decided to target the age group 13-15

• Geographically: 6 classes in Budapest will be in

scope.

• We were going to hold courses ourselves. Each

course contains 5 lessons between March and June

2012.

• The topics were the basic financials. We

concentrate on providing practical, useful

knowledge. Interactive presentations with short

videos, pictures and with competition for the

students.

• It turned out from the interviews with school

managers that although the economic education is

aimed to be a part of the National Curriculum since

2007 but real progress can not be experienced.

June 2012 7

Project timingTiming Phase

June 2011 Topic selection and project analysis (research, topics, timing, plans)October 2011 Management presentation

November 2011 PreparationDecember 8&12, 2011 Kick off Meeting with presenters

  Creating 5 pairs for presentations  Topic selection for pairs

  Agree regular meetings scheduleuntil December 20, 2011 Calls to schools to agree time of meetingsuntil January 20, 2012 Meeting with school directors

  Organize place and time of the presentation with the schoolsuntil January 20, 2012 Finalize training materialuntil January 30, 2012 Meeting with Communications Dept.

  Presentation material (videos, handouts)  Gifts

January 23-February 22, 2012 Train the trainers  Sample presentation by in-house experts  Trial lessons

February 22 - May 16, 2012 Hold the presentations until May 2012 Compose a questionnaire regarding the efficiency of the presentation

June 2012 Evaluation of the program

June 2012 8

Project implementation

The project in numbers

• 20 colleagues involved (10% representation of the Bank’s staff): 5 in the project team, 5 „teacher” groups – 3 members per team: 2 presenters per topic + 1 co-trainer (substitute)

• 5 topics (money, savings, accounts, cards, credits)

• 6 classes, 170 school children

Topics and presentation

http://prezi.com/q4vw7e4dskpi/penz-bankrendszer/

http://prezi.com/rdmeoqwhhn25/bankszamla/

http://prezi.com/jszlrhtknkk5/bankkartya/

http://prezi.com/5xgnk8mmotxk/megtakaritas/

http://prezi.com/fwjnjwma9hww/hitel/

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Experiences

• The teachers and children welcomed the initiation very much

• Interactivity, asking questions needed continuously

• Pictures, videos very welcome

• Simple explanation needed with examples and tactile tools (e.g. cards, forms, banknotes)

• No technical terms used

• The different complexity of topics is hard to follow (nature of the topic determines it)

• They liked the idea of the competition and presents

• We have received continuation requests – FE part of the national curriculum

June 2012 10

Q&A – Thank you for your attention