Webinar: Building the business case for youth services

As the spirit of Global Money Week continues and our partners in the financial sector are showing more interest in developing products for children and youth, we thought this was the perfect opportunity to organize a webinar and raise the question of whether there is a business case for youth services.

Join us on Thursday, March 20 at 2:00 - 3:00 PM CET, as Child and Youth Finance International (CYFI) will be co-hosting with the United Nations Capital Development Fund (UNCDF) and the Union des Coopecs Umutanguha (UCU), a free webinar to discuss the business case for Financial Services Providers (FSPs) offering financial products or services for children and youth.

Together with Ms. María Perdomo, Youth Start Programme Manager for UNCDF, and Mr. Jules Théoneste Ndahayo from UCU, we will be reviewing UNCDF’s latest publication: “Building the business case for youth services: Insights of the YouthStart Programm”. This paper aims to take the first steps in demonstrating that youth are a viable market and focuses on the business case for serving youth if FSPs follow three pathways to profitability of youth services: i)Optimizing expenses; ii) Increasing savings volume; and iii) Increasing return from youth.

Registration Details

Topic: Building the business case for youth services

Date: Thursday, March 20, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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Webinar: Banking a New Generation, Developing Responsible Financial Retail Banking Products for Children and Youth

Presentation of a CYFI/MasterCard Guide

Join us on Monday, March 17 at 2:00 - 3:00 PM CET, as Child and Youth Finance International (CYFI) will be co-hosting with MasterCard a webinar that presents a brand new Guide for leading national and international financial institutions with an ability to drive significant outreach (1 million+). The Guide is relevant for those organizations who are evaluating an existing investment in financial products for children and youth, and for those debating whether to enter the segment for the first time. The Guide is intended to help decision makers, products owners and all stakeholders in the product development process understand the impact of working with children and youth, and provide guidelines on how to develop appropriate innovative banking and payment products, while respecting and supporting children’s rights.

In a presentation and conversation, the webinar will discuss the guiding principles for responsible financial products for children and youth; why to invest in these segments; some key relevant features of these segments; what makes a good child and youth friendly product proposition, and considerations regarding the product development process.

CYFI and MasterCard will present highlights from the Guide and examples of banking and payments products from across the globe.

CYFI and MasterCard invite anyone who is interested to join the free webinar! MasterCard and Child & Youth Finance International announced a global strategic partnership in January 2014 aimed at improving the financial inclusion of children and youth. This Guide is a first outcome of this partnership.

This webinar is part of Global Money Week (GMW), the annual global awareness week (10-17 March 2014) organized by CYFI and its partners and stakeholders. GMW creates awareness with children, youth, parents, and teachers around economic citizenship education and financial inclusion for children and youth.

Registration Details

Topic: Presentation of CYFI/MasterCard Guide on Child and Youth Friendly Product Development

Date: Monday, March 17, 2014

Time: 2:00 - 3:00 PM CET

Registration: Click here to login

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Jeroo Billimoria: Child & Youth (Micro)Finance - share from the Huffington Post

Jeroo Billimoria: Child & Youth (Micro)Finance - share from the Huffington Post

Over the coming weeks Child and Youth Finance will have the privilege to blog on behalf of the Child and Youth Finance Movement, at the Huffington Post. This amazing opportunity is a part of the Skoll Foundation Social Entrepreneur Challenge, where we are participating with our own fundraiser. During the weeks we will talk about the issues we are trying to tackle, including youth unemployment, technology solutions for financial inclusions, the need for Child & Youth Finance in developing countries, and more. To reach as many as possible form the Movement all post from the Huffington Post will also be shared here on our own blog.

The Child and Youth Finance global Movement was launched in 2012 as a way to empower, include and educate children and youth all over the world to a life free from poverty and financial instability.  We want to ensure that youngsters of today grow up to be confident and responsible adults that believe in themselves and in the world around them. Since the launch our partners around the world, have been able to reach 18 million children and youth in 125 countries -- a wonderful success! -- with this cause.

However, my work with children began much earlier than this. I started up my first organization to help children with math at age 16. After a few years I started working with Indian street children, this led to the start of ChildLine -- a 24/7 help line for children that eventually spread to 146 countries. In my work I started to see a pattern of the children and youth I worked to help.

They often came from families with financial troubles, be it poverty or debt. I realized that there is a need to educate children and make sure that they are financial literate in order to give them the opportunity for a bright future, and keep them out of the troubles that come along with a financially unstable life. This was the idea that gave life to the Child and Youth Finance Movement. And we started focusing on how we can give the adults of tomorrow the knowledge, but also the skills and self-confidence to inspire them to convert their knowledge into action, based on good and sustainable values.

One important aspect of this, we found, is financial inclusion and access to a savings account. When I started approaching banks and financial institutions about offering saving accounts for children and youth I was met with people showing me the door, or at best I was politely denied. During the short life of the Child and Youth Finance Movement, this has changed. We are making small steps towards making financial institutions realize the value to include children and youth in their services, in order to make sure that they know and realize the responsibilities and opportunities that come along with it. They are after all the people who will set the financial environment of the future.

These steps are being taken all over the world, and one way of keeping sure we keep on walking in the right direction is via the Movements Regional Meetings. The Second CYFI Regional Meeting for the Americas and the Caribbean in Bogotá, Colombia is a proof of such progress. The meeting was held together with the Fourth Latin American Congress of Financial Education by FELABAN, and ASOBANCARIA. With the collaboration between FELABAN, ASOBANCARIA and Child and Youth Finance, this unique meeting is 2013's biggest event dedicated to youth financial education in the region.

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Financial Football in Bogotá, Colombia

The meeting also gave children and youth the opportunity to express their own opinions and needs to the attending high level policy makers and leaders. As the bankers and policymakers enjoyed a game of financial football with the youngsters at the meeting, the days of shut doors seems much further away. The Child and Youth Finance Movement is currently also represented at the Microcredit Summit Campaign Summit 'Partnerships Against Poverty' in Manila, Philippines.

It is a great opportunity for us to learn more about how Microfinance can be used to ensure financial inclusion for children and youth. You see, much like the savings accounts a couple of years back, this far microfinance has mainly focused on adults and the role of children and youth have often been missing in microfinance initiates and discussions. During the Summit, The Movement got the privilege to hold a workshop on how microfinance can be made more inclusive to children and youth, and be a part of enabling them to break out of cycles of poverty and indebtedness.

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Workshop on Youth Inclusive Microfinance in Manila, Philippines

A big step to further such initiatives the Child and Youth Finance Movement is now entering a partnership with Microcredit Summit Campaign, that similarly to the Movement convenes a broad array of actors involved with microfinance to promote and share best practices and knowledge in the field and to work towards fight world poverty through microfinance. Together we hope to bring microfinance as well as confidence, knowledge and skills as a way for children, youth and their families to rise out poverty and towards a financially stable and secure future.

 

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Jeroo Billimoria

Managing Director

Child and Youth Finance International

 

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CYFI attending Historic Asian Banking Association Conference in Mongolia

CYFI attending Historic Asian Banking Association Conference in Mongolia

Yesterday was the first day of the Asian Banking Association (ABA) 30th General Meeting and Conference. The meeting takes place in Ulaanbaatar, Mongolia in collaboration with the Mongolian Bankers Association (MBA), making history as the first time the ABA holds a conference in Mongolia. Asian Bankers Association (ABA) Chairman Lorenzo Tan hopes that holding the annual gathering in Ulaanbaatar this year will increase the knowledge of the members about Mongolia, its economy, trade and investment potentials, banking and financial sector, and manpower resources.

        “Following the success of our annual gathering in Manila in November last year, I would like to once again count on all our members to extend the same spirited enthusiasm and strong support to the upcoming meeting in Mongolia,” says ABA Chairman Mr. Tan. 

The 30th ABA conference is gathering high level banking executives from Asia’s top banks and research centers to share their insights on various issues facing the banking and financial industry, in connection to the theme “Asia: Growth engine of the global economy”. CYFI is represented by Mike Fawcett, Director of Partnership, who is speaking today during the CEO’s Forum. Mike will be introducing Asian Bankers to the Child Finance Movement, focusing on child friendly banking and economic citizenship education. 

Both the ABA and the MBA have expressed their hopes that discussions will not only be of commercial interest to the participants, but will also be useful to both associations in their efforts to help shape policies that affect the region’s development. By attending this conference Child and Youth Finance also hopes to be able to inspire the region to further focus on the issue of economic citizenship and child friendly banking.  

Follow on Twitter for updates about the conference:

ABA and MBA 

CYFI

Mike Fawcett 

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