Emanuela Angori – Head of Business Development & Client Protection Bruxelles, 6 June 2013 CREDIT CRUNCH AND SHRINKING SAVINGS European Economic and Social Committee UNICREDIT FOR CONSUMER PROTECTION: THE ITALIAN BUSINESS CASE
Aug 16, 2015
Emanuela Angori – Head of Business Development & Client Protection
Bruxelles, 6 June 2013
CREDIT CRUNCH AND SHRINKING SAVINGS
European Economic and Social Committee
UNICREDIT FOR CONSUMER PROTECTION: THE ITALIAN BUSINESS CASE
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EUROPEAN CONSUMER AGENDA KEY CHALLENGES
Launching Financial EducationInitiatives
Cooperating with AACC to enhancetransparency and simplification
Developing effective ways ofalternative dispute resolution
Adapting products and services tosocio-economic changes taking place
The European Consumer Agenda focuses on the principles of trust and awareness ofEuropean consumers in order to re-launch the single market and overcome the difficulteconomic situation.
4 KEY OBJECTIVES
Reinforcing consumer safety
Enhancing consumer knowledge toallow an effective exercise of theirrights
Stepping up enforcement andsecuring redress
Aligning consumer rights andpolicies to changes in society and inthe economy
« .. Empowered and confident consumers can drive forward the European economy… »
RECOMMENDED GOOD PRACTICES
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KEY PRINCIPLES TO ENHANCE CONSUMER PROTECTION
Source: Extract from G20 High-level principles on financial consumer protection endorsed by the G20 Finance Ministers and Central Bank Governors at their meetingon 14-15 October 2011
Key principles Description
Appropriate mechanisms should be developed to help existing and futureconsumers develop the knowledge, skills and confidence to appropriatelyunderstand risks, make informed choises and take effective action to improve theirown financial well-being
Financial Education and awareness should be delivered through diverse andappropriate channels, should begin at an early age and be accessible for all lifestage
Specific programmes and approaches related to financial education should betargeted for vulnerable groups of financial consumers
Provide consumers with key information on fundamental benefits, risks and termsof the product
Financial promotion material should be accurate, honest, understandable and notmisleading
Specif disclosure mechanisms, including possible warnings, should be developed toprovide information
Financial Educationand Awareness
Disclosure andTransparency
FINANCIAL EDUCATION IS MORE THAN JUST EDUCATION
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Empowering
people
Adressing
social
exclusion
Promoting
responsible
consumption
THE ITALIAN BUSINESS CASE
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IN-FORMATI: THE DRIVERS
In-formati:UniCredit Financial Education program in Italy from 2011
Free courses on Banking and Finance forcustomers and non-customers
Courses with multi-target approach (consumers,non profit organisation, enterprises)
Courses available throughout the Country
Focus on consumers and territories real needs
Bank Experts provide non commercial courses ona voluntary basis and outside work hours
Courses offered to sensitive target such ashearing and speech impaired, immigrants, youngpeople, new entrepreneurs …
Reduce informationasymmetry betweenBank and Consumer
Increase capacity ofmaking aware andresponsible choises
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40.879
143.838
Trainees (about 90% Non Clients)
1.663 Courses delivered
768 Volunteer trainers involved in the program
21% Financial Literacy Index
250 Cities where courses have been delivered
3,1 Trainees satisfaction Index (escale from 1 a 4)
11 Agreements on Financial Education with national stakeholders
* From March 2011 to May 2013
Training hours delivered (about4 hours per trainee)
IN-FORMATI: KEY DATA*
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Empowering
people
Adressing
social
exclusion
Promoting
responsible
consumption
Start up courses
Courses on mortgages,consumer credit,multichanel banking, etc.
Internationalizationcourses (enterprises)
"Guadagniamo il futuro"("Earn your future") foryoung people incooperation withConsumer Associations
"Bank trasparency andlegality" courses withMinistry of Education(Legality Ship 2012Edition)
Revolving cards courses
Courses for immigrantpeople (Agenzia TU)
Courses withInternational LabourOrganization (ILO) forpolitical refugees
Courses for people in jail
(ad es. Malaspina jail inPalermo)
IN-FORMATI: KEY ANSWERS TO TERRITORIAL NEEDS
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NOI&UNICREDIT:THE CONSUMER ASSOCIATIONS PARTNERSHIP
Multi-year strategic partnership with12 CA registered at institutional level(Ministry of Economic Development)
(2008 – 2013)
Permanent dialogue: 4 joint workinggroups composed by ConsumersAssociation and UniCredit experts
Bank internal processes integrationwith tools carried out in partnershipwith CA
Noi&UniCredit: A program of permanentdialogue with italian Consumers' Associations(CA)
Contribute to reduceover-indebtedness andfinancial exclusion
Increasesemplification andtransparency
7 DECALOGUES –10 KEY THINGS TO KNOW on
Mortgage Current Account Personal Lending Credit Cards Debt Cards Revolving cards Loans against salary
1 TRANSPARENCY KIT FORMORTGAGE Decalogue Simplified contract Variable-Rate mortgage note Analytical leaftlets merge
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4 SIMPLIFIED CONTRACTS
Mortgage Personal Lending Revolving cards Loans on salary
2 PRODUCTS LAUNCH onFINANCIAL INCLUSION
FRIENDLY REPOSSESSA product designed toovercome situations ofilliquidity or temporaryfinancial difficulties throughthe alienation (total or partial)of a property, while retainingthe possibility to buy it backthrough repurchase
"CONTO TU FAMIGLIA "BANK ACCOUNT FORCAREGIVERSA specific product forcaregivers which enriches theoffer of banking services withservices dedicated topersonal and professionaltraining, such as languagecourses, and customizedinsurance policies
NOI&UNICREDIT: SUBSTANTIAL TRANSPARENCY ANDFINANCIAL INCLUSION ACTIVITIES
For additional info: www.unicredit.it/associazionedeiconsumatori
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LEGALITY SHIP 2012 EDITION
Courses and games on financial education to thousands of youngstudents on «Legality Ship» together with the Ministry of Education
Courses on Legality and Finance to 150 students and teachers on the"Legality ship"
"GUADAGNIAMO IL FUTURO (EARN YOUR FUTURE)" *
309 courses 200 schools 8372 participants
"FACILE&SICURO" (Easy and secure): E-money
21 meetings National Day with 20 INFO POINTS nationwide 8300 citizens involved E-money guide
FACILE&SICURO: multichannel bank
Meetings with 150 CAs executives Multichannel Bank guide Meetings on territories (starting now)
NOI&UNICREDIT :JOINT FINANCIAL EDUCATION WITH CA'S
* Figures refer to courses within In-Formati program, period March 2011 – April 2013
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LESSON LEARNED:PUBBLIC AND PRIVATE WIN-WIN PARTNERSHIP
CONSUMERS
TERRITORIALSTAKEHOLDERe.g. CONSUMERASSOCIATION
INSTITUTIONS
ENTERPRISES
Commitment todevelop their ownfinancial knowledge
Create an enablingframework: strategies,resources andcoordination
Develop, deploy and monitorprojects to increase financialskills through financialknowledge transfer
Provide informationabout concreteneeds of territories/consumers andcontribute toterritorial projects
A new "paradigm" to enhance consumer protection
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THANKS FOR YOU ATTENTION
Emanuela Angori
Head of Business Development & Client ProtectionCountry Development Department
+ 39 06 54455464
+ 39 335 8306450