U.S. Trails (14th Place) Israel, Canada & Germany for Financial Literacy

Nearly two-thirds of adults consider their own financial literacy to be good or excellent, however, their perception of the average American isn’t quite as favorable. Only 29% of respondents perceive the average American’s financial literacy as good or excellent. Reality falls somewhere in between. An S&P Global study found that 57% of American adults could…

Old Farts Represent a Huge $ Market for Alternative Financial Services

The economic buying power of the 50-plus population who are increasingly turning to alternative financial services due to feeling that traditional bank offerings are not meeting all of their financial needs is enormous. Fintech companies are hoping to tap into this market by offering digital tools to address the unprecedented financial stress and complexity faced…

Bankers Head Out to Schools for Financial Literacy Month

Nine out of ten adults overwhelmingly agree personal finance skills should be taught in schools. Despite such strong support, as of 2016, only 17 states require high school students to take a course in personal finance.   Noteworthy is the fact April is Financial Literacy Month. The American Banker’s Association (ABA) Foundation along with bankers…

Safer Payment Products for Minors’ Guide for Financial Service Providers

Child & Youth Finance International (CYFI) and Mastercard are launching a guide on banking and payment products for minors.  The ‘Safer Payment Products for Minors’ guide identifies recommended practices on how Financial Service Providers (FSPs) can develop age-appropriate payment products for minors; promoting responsible spending and financial decision-making whilst incorporating functionalities that allow for parental…