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Financial education

A commitment which falls within the realm of the Intesa Sanpaolo Group’s expertise is the dissemination of knowledge related to economic/financial issues, to make people more aware of their financial choices, with special emphasis on the new generations. In this regard, numerous initiatives are put in place whereby the Group provides, without any commercial purposes, its expertise and consultancy on savings management and family budget matters.

A special focus on young people

The Intesa Sanpaolo Group is actively involved in initiatives to develop and spread financial and economic knowledge, in particular to young people, ever more in need to make relevant choices for their welfare (pensions, investments, savings).
The attention that the world of finance addresses to this issue has led the Italian Banking Association to set up the "Foundation for Financial Education and Saving" (Fondazione per l'Educazione Finanziaria e al Risparmio).

Financial culture at school: preparing to choose

Since the school year 2008/2009 Intesa Sanpaolo has been promoting with Osservatorio Permanente Giovani – Editori, the project that has been renamed “Young Factor”  since May 2014. The program is dedicated to secondary school students and in 2018 involved around 2,176 schools, 22,908 classrooms and 595,608 students.

In May 2014, the redesign of the project was launched as part of an event aimed at raising awareness among Institutions, operators in the sector and the media on the need to invest in the dissemination of an economic and financial education aimed at young people.

Developed as part of the “Il Quotidiano in Classe initiative” - which, through the reading of several newspapers in comparison, aims to help young people develop the critical spirit necessary to be free citizens tomorrow, the project aims to promote the dissemination of the economic-financial culture among young people, providing knowledge supports useful for making informed choices for their future, encouraging the formation of responsible citizens.

The initiative makes use of a number of tools: a "Workbook" to support teachers in carrying out the activity; 10 video clips, 10 video clips  on current issues by Professor Alberto Banfi, scientific and educational coordinator of all the proposed training activity and 5 meetings on the territory with journalists.

To learn more, visit the Observatory website.

Museo del Rispamio (Savings Museum)

The Savings Museum is a multi-media, interactive museum set up in 2012 by Intesa Sanpaolo. Dedicated to families, adults and children, the museum explains the concepts of saving and investing with a clear, simple language, to help improve financial literacy. In 2013 it founded the International Federation of Finance Museums (IFFM) in collaboration with the Museum of Global Finance in Beijing, the Museum of American Finance in New York and the Global Financial Literacy Excellence Center in Washington, and became co-chair in 2015.

In collaboration with member institutions of the IFFM, a number of concrete proposals were made in 2016 to encourage the greater involvement of women in financial issues ("Addressing the gender gap in financial literacy: a practical toolkit"). Other initiatives particularly for women were also been adopted, with the aim of breaking down the gender gap in financial education. These include "Rischiare? È un mestiere da donne" (Taking risks? It's a woman's job), designed to encourage debate among adult women on how to gain more awareness and promote saving. The new "It’s up to you" workshop for 11 to 14 year-olds, which is part of the same theme, helps youngsters to plan their personal finances without gender stereotypes.

Numerous initiatives were set up for all types and levels of schools, starting from the three-year project MOney Learning, developed with the European Investment Bank and Fondazione per la Scuola della Compagnia di San Paolo. The aim of MOney LEarning is to offer new learning opportunities to children of elementary schools in remote areas of Piedmont, who are brought to Turin without any disbursement by families and can have access free of charge to the Savings Museum, where they participate to a guided tour about the meaning of savings and the history of the currency.
The Museum also participated with the Foundation for Financial Education and Savings and the Italian Banking Association at the first edition of the "Fuoriclasse della Scuola", an initiative that rewards students of the high schools who win the School Olympics, competitions organized annually by Ministry of Education and Research. For the occasion, a Campus on Financial and Entrepreneurship Education was organized and hosted at the Museum, where the 45 selected students were able to meet successful business men and start-uppers, to know about international financial institutions and to attend workshops about team building and soft skills strengthening.
Also the second edition of "IL MIO POSTO NEL MONDO", festival dedicated to human capital, was dedicated to students of the high school who, in this occasion, had the possibility to discuss with affirmed personalities in different professional fields.

The numerous events targeted to schools organised in 2016 by the Museum include: the conference "Il risparmio e la società giusta" (Saving and the right society), within the Salone del Risparmio of Milan; the "No cash world" workshop, within the No Cash Day and the Salone dei Pagamenti of Milan; the conference "Denaro sporco: seguirne le tracce per la tutela della legalità" (Dirty money: tracking to protect legality) as part of the Forum on Fiscal and Economic Legality; the presentation of the book "Attenti a quei soldi" (Careful with that money) and children's workshops during the Turin Book Fair, in partnership with the Bank of Italy's Turin branch.

To mark National Saving Day, the Museum also promoted "Arte del Risparmio” (The Art of Saving), a week of events (exhibitions, workshops, etc.) for young children and adults, in association with Gallerie d'Itala and the Historical Archive of Intesa Sanpaolo.
Starting from the experience at the Book Fair, further book presentations have been organized, such as "Scelgo dunque sono. Guida galattica per gli irrazionali in economia" (I Choose, So I am. Galactic Guide to the irrational in economics) by Prof. Luciano Canova and "Fate il nostro gioco" (Make Our Game) by Paolo Rizzuto and Diego Canova.

Lastly, activities continued to develop new content, with the e-book "Le parole della finanza" (A finance glossary), which is the second of three publications that present comprehensible, concise explanations of the most common terms used concerning loans, finance and risk.

Intesa Sanpaolo and Consumer Associations

Within the scope of the collaboration with Consumer Associations, since 2011 the project "Mettere in comune competenze" (Skills pooling) has been set up. It stems from the Bank’s intention to improve the mutual knowledge and collaboration skills to the benefit of customers and consumers.

 

"Formiamo l’Italia dei Consumatori"

"Formiamo l’Italia dei Consumatori" (Let’s train Italian consumers), a series of seminars on economic and financial issues. Intesa Sanpaolo specialists (Training Department) “tutored” the Associations’ central management on aspects of the banking industry: from the ABC of markets and financial instruments, to the basics of risks and returns, asset management, derivatives and the main analysis methods. Specialists concluded with an in-depth study of the regulatory framework and the mechanisms that led to the Subprime crisis, which evolved into the sovereign debt crisis.
Following a partnership agreement with LUISS University, the series of financial seminars was supplemented with two contributions, one on the impact of the current crisis on the real world and the other on the relationship between the crisis and consumers’ psychology.

"Formiamo la banca dei consumatori"

"Formiamo la banca dei consumatori" (Let’s train the consumers’ bank) aimed at promoting a training programme for all Intesa Sanpaolo employees in Italy with the intention to develop a greater knowledge of consumer culture and improving customer relations skills. The project involves the different training channels:
Classrooms
For the first time, on an experimental basis, some time slots, handled independently by a representative of one of the Associations that took part in the project, were included in the training courses for new recruits and for new managers. During the lessons the topics of consumer culture were covered and a lot of space was dedicated to debate and exchange of views on the protection of the client / consumer rights.
E-learning
Video-lessons held by Consumer Associations’ representatives on the guarantees of goods and services, with particular attention to rights and regulations were recorded. The video-lessons addressed, among others, the issues of out-of-court settlement, commercial practices and the Consumer Code.
Intranet
Web pages dedicated to the consumer culture were created and made accessible by all Bank staff. Among the various sections, as well as a brief history of consumerism, colleagues can find news from the Associations, the rules of the out-of-court settlement in Intesa Sanpaolo, as well as links to the sites of all the Associations that are part of the National Council of Consumers and Users at the Ministry of Economic Development.

"Formiamo le regioni dei consumatori"

"Formiamo le regioni dei consumatori" (Let us train the consumers’ regions) aimed at increasing consumers’ banking and financial knowledge through the training of tutors and Associations managers at local level, thanks to the cooperation of the Intesa Sanpaolo Training Department and Intesa Sanpaolo Vita experts.

"Cara banca: ecco come ti vediamo noi consumatori"

In the last section, "Cara banca: ecco come ti vediamo noi consumatori" (Dear Bank: this is how we consumers see you), the Intesa Sanpaolo Group’s top managers and the Associations’ key executives will pool together their skills and guidelines in a series of specialised meetings according to key business area, such as retail, legal and customer service.

Subsidiary Banks' initiatives

Also in our Subsidiary Banks there are numerous financial education projects for young people and to support the start-up of new small businesses.

Croazia - Privredna Banka Zagreb

Privredna Banka Zagreb has founded the first and only Croatian museum devoted to savings and finance. The aim of the Museum is to raise awareness on the issue of saving among the community and particularly the younger generations. It provides a rich coin collection, piggy bank collection from all over the world, old stock collection and historical documents and the most regular visitors are student groups

Serbia - Banca Intesa Beograd

In Serbia, Banca Intesa Beograd since long has been actively involved in financial education program for women entrepreneurs. 

Ungheria - CIB Bank

In Hungary, CIB Bank promotes "Testimonials" ("Stafétabot") campaign which is a series of interviews with managers of SMEs customers of CIB Bank, presenting their "key to success" on national and local newspapers as well as online media. These interviews are flanked by educational articles on specific financial products (factoring, leasing, loans, etc.).

Slovacchia - VÚB Banka

In February 2015 VÚB Banka launched  "iPoradca"("iAdvisor"), program that involves  the presence of a "Digital Ambassador" in every branch, who will help customers understand the benefits of digital services and will teach how to use them in everyday life. In 2016 the project evolved with the development of internal workshops to make all branch employees digital "ambassadors" to customers.
To support the development of business initiatives for young people and women VÚB Banka has launched a collaboration with "Impact Hub", start-up incubator, and VÚB Foundation. workshops and mentoring initiatives are offered to women who want to pursue their own business. Since 2009, every year the Bank organizes "Business Academy", a 3-days training event dedicated to young entrepreneurs who have the opportunity to learn the basic concepts for the development of a successful company and set up their business plan under the supervision of specialists with years of experience.

Intesa Sanpaolo Bank Albania

Intesa Sanpaolo Bank Albania, in collaboration with Junior Achievement Albania (entrepreneurial education program), involved some employees, who voluntarily offered their skills in a project of financial education for students in secondary schools. The Bank has also signed a partnership agreement with the Faculty of Economics, in order to share experiences and professional skills in various projects within the academic activities. Graduated students were able to carry out their three-month internship at the Albanian Bank.

Egypt - Alexbank

Alexbank chose to use the Bank’s Facebook page to publish a series of 10 videos ("Ask the Expert with Alexbank") which, in order to approach and educate the common people to the financial world, explain in a simple and engaging way the main concepts of banking, the terminology used in contracts, the different products offered (credit or debit cards; current or savings account, fixed or variable interest, etc.).

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