In Spain, the degree of financial inclusion is considered practically universal. There are many people who have access to financial products and services that meet their needs. Transactions, payments, savings, credit and insurance, and that – as required by the UN – are provided in a responsible and sustainable manner. Yes, there is inclusion, but it has settled on a terrain that can be somewhat slippery for the most vulnerable groups, leaving out those who do not master its language and its constant changes: the digital world.
The digitalization train is loaded with advantages and has room for everyone, but it has a handicap: it does not wait. It may leave behind thousands of people who, without up-to-date digital skills, such as surfing the Internet, using applications or understanding digital security concepts, mean that financial inclusion may be just a mirage. It is no coincidence that this year, Financial Education Day – celebrated on October 2 – had the motto ‘Inclusive finance, finance for all’.
A ‘for everyone’ that pays special attention to those who, due to different circumstances, find it more difficult to carry out the most basic banking operations on the Internet. People at risk of social exclusion, people with disabilities, people over 65 years of age, or children and adolescents, groups to whom the initiatives promoted by Banco Santander are precisely aimed. Financial education becomes the definitive weapon of inclusion capable of defeating any digital divide that puts the access of these groups to banking at risk.
One of the programs promoted by the entity to fulfill this mission is called ‘Finances for Mortals’, which is developed in collaboration with the Santander Financial Institute and has specific content for each group and their needs; for example its Senior and Junior editions. “Learning has no age and we meet people who are truly curious and eager to learn new things,” shares Francisco Artime, commercial director of Santander Cantabria and volunteer trainer of ‘Finances for Mortals’, the bank’s flagship financial education program.
The objective is the same, but depending on age or circumstances, emphasis is placed on some content or others. “For children we put more focus on basic concepts of the family economy; With adolescents, we advance on the above and also give them some notions about entrepreneurship or business plans; With older people we focus a lot on the management of digital banking and the keys to cybersecurity to avoid fraud and scams, etc.,” Artime clarifies.
That is, the training offer adapts to their interests and demands: “Children want to better understand their parents’ lives and always look for examples; “Young people are interested in their professional future, and for older people, of course, their main concern is security in the use of applications and payment methods,” explains the volunteer, who is clear that learning has no age: “What we have Of course, good financial education allows you to make better decisions.”
Learning is also putting into practice. Only in this way is it possible to empower them in their daily lives in an effective and useful way. “The training with the elderly is fantastic because it is totally practical in nature. We always give them some basic and simple rules of conduct so that their operations are completely safe and some of these older people, who arrive with some distrust or fear, realize that it is much easier than it seems,” describes Artime. .
Together with seniors and juniors, the entity also develops programs for people with disabilities, social entrepreneurs and groups at risk of social exclusion, such as prisoners. Or initiatives such as Cyber ??Heroes, an interactive course on cyber fraud aimed at any user, with simple security tips to help protect against scams, such as phishing or smishing (fraudulent messages to induce people to fall for a scam via email). or SMS, respectively).
The general response is a success, which at the same time indicates the entire path to be followed if we talk about financial education. Until September 2023, almost 12,000 people have accessed 800 training sessions promoted by Banco Santander, 58% more than the previous year. Of them, a thousand participants over 65 years of age have learned about digital banking, cybersecurity and anti-fraud measures and the use of ATMs through ‘Finance for Mortals Senior Edition’.
If we broaden the focus, we see how in 2022 alone the programs and initiatives promoted by Santander, aligned with the OECD principles, benefited 2.7 million people in all the countries in which the entity works. More than 5.1 million if we put the counter in 2019. A figure that results from the work that has been carried out for more than 10 years with activities coordinated by volunteer trainers of the entity – more than 300 -, such as Francisco Artime, and collaborations with other institutions and NGOs.
Volunteers, in fact, are the pillar on which this network of knowledge and progress that is education and financial health is articulated. They are also the common denominator of a week of actions with which Banco Santander has commemorated this year’s Financial Education Day, and which has included more than 50 financial education sessions, activities for the elderly, while the The little ones have been able to visit the Santander Spain facilities to learn about financial education, among many other initiatives.
