MasterCard Foundation, Save the Children, New America Foundation, Center for Social Development, CGAP, Banco Caja Social, HFC, Postbank Kenya, Bank of Kathmandu
YouthSave is a consortium project led by Save the Children in partnership with the Center for Social Development at Washington University in St. Louis (CSD), the New America Foundation (NAF), CGAP (Consultative Group to Assist the Poor), and supported by The MasterCard Foundation. The YouthSave Consortium and its local partners - financial institutions and researchers - are committed to developing, delivering, and testing savings products accessible to low-income youth in Colombia, Ghana, Kenya, and Nepal.
This article makes the case that nonfinancial support should be recognized as an alternative to traditional types of collateral and guarantee to expand access to startup capital for young entrepreneurs.
This fact sheet is part of a collaborative effort of the Inter-Agency Network for Youth Development, coordinated by
the United Nations Programme on Youth. It was done as part of a series of fact sheets to support the International
Year of Youth. It provides an overview of why investing in youth should be a concern, as well as UN commentary
on the issue.
Access to appropriate financial services can play a critical role in enabling young people to navigate the challenges and opportunities they face, regardless of their employment or educational status. This paper discusses: 1) the results of a global survey conducted in 2009 by Making Cents International; and 2) findings of leading NGOs and financial institutions which are pioneering youth-inclusive and youth-specific financial products.
This paper presents an overview of the business and social case for serving young people with appropriate financial services. Using examples form several global financial institutions, it addresses the differences between youth and adult market segments as well as how financial products differ for young people. The paper presents practical guidelines to help institutions begin thinking about developing or adapting financial services for youth and will highlight the essential non-financial aspects of serving young people with financial services including life skills, health and business training as well as providing safe meeting spaces and mentoring. Finally, it concludes by discussing a vision for the youth-intensive financial services including a call for youth-friendly banking regulation, greater research and experimentation, especially with services for the most vulnerable youth, as well as the need for greater advocacy to encourage financial institutions to invest in appropriate, demand-drive financial services for young people.
The SEEP Network, BRAC USA, Making Cents International
The presentation “Financial Inclusion for Youth: Reaching the Next Generation” which took place at the QED group has been uploaded as a webcast. Viewers can hear and see presenters from BRAC, SEEP Network, and Making Cents International discussing program results, scaling up, and creating stronger linkages to youth.
This paper argues that common definitions of financial capability understate the role of psychological barriers to establishing sound financial behaviors, namely savings habits. Drawing on insights from psychology and behavioral economics, we explore these missing psychological variables in the standard financial capability equation and suggest mechanisms, or nudges, to overcome those barriers to accelerate financial capability among low-income youth.
This brief presents findings that came out of the 2009 AudienceScapes surveys on youth access to financial
information and services in Ghana and Kenya. It aims to provide guidance to the many development organizations
active in financial services and mobile money projects.
In this technical note, FINCA Uganda and Hatton National Bank Sri Lanka (HNB) explore key components and issues around the institutionalization of youth financial services, based on their individual experiences. Topics that are explored include key considerations, steps, and challenges of institutionalization. While some universal aspects of institutionalization are covered, this document primarily examines differences in institutionalizing youth financial products as opposed to financial products targeted to non-youth.
Center for Social Innovation, Stanford Graduate School of Business
In this audio interview with the Stanford Center for Social Innovation, Jeroo Billimoria talks about how her organization, Aflatoun, fosters childrens’ social and financial awareness. She discusses how the organization works with partners, ensures the quality of its curricula around the world, and works to move such curricula into mainstream schools. Billimoria also shares challenges, course corrections, and the organization’s vision for the next five years.