SECOND REGIONAL SEMINAR ON FINANCIAL EDUCATION … · oecd/cvm centre on financial education and literacy in latin america and the caribbean second regional seminar on financial education

OECD/CVM CENTRE ON FINANCIAL EDUCATION AND LITERACY IN LATIN AMERICA AND THE

CARIBBEAN

SECOND REGIONAL SEMINAR

ON FINANCIAL EDUCATION TRENDS IN THE LAC REGION

11-12 DECEMBER 2017

RIO DE JANEIRO, BRAZIL

Digital Financial Literacy

Mariela Zaldívar Chauca Deputy Superintendent of Market Conduct and Financial Inclusion

The Digital Revolution

4

What is happening in the World?

5

What is happening in the World?

6

What is happening in the World?

-6.0% -3.0% 0.0% 3.0% 6.0%

0- 45- 9

10-1415-1920-2425-2930-3435-3940-4445-4950-5455-5960-6465-6970-7475-79

80+

Peru 2050

Hombre Mujer

-6.0% -3.0% 0.0% 3.0% 6.0%

0- 45- 9

10-1415-1920-2425-2930-3435-3940-4445-4950-5455-5960-6465-6970-7475-79

80+

Peru 2025

Hombre Mujer

-6.0% -3.0% 0.0% 3.0% 6.0%

0- 45- 9

10-1415-1920-2425-2930-3435-3940-4445-4950-5455-5960-6465-6970-7475-79

80+

Peru 2000

Hombre Mujer

More people has become familiar with ICTs

Source: INEI Peru: Estimates and Projections of the Total Population 1950-2050

Digital Native (born from 1980 onwards): 2000: 44% of the population 2025: 71% of the population 2050 : 89% of the population

Man Man Man Women Women Women

Deudores según grupo generacional

Source: SBS (June 2017)

31% 32%

40% 39%

28% 27%

0

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

Debtors by generation

26%

38%

33%

3%

3 20

4

32

55

52

52

47

29 19 44

21 13 9

2000 - 2005 2006 - 2010 2011 - 2015 2016 - 2017

Debtors composition by quinquennium of entrance to the financial system

Nativos Digitales Generación Y Generación X Baby Boomers

They look for transparency

Digitized and automated

services

They are volatile (loyalty,

tastes and preferences)

The customer

experience matters

Services aligned to

your tastes

Source: FISA Group

Key factors for the success of digital financial services

Simple

Accessible

Widely accepted

Safe

Focused on a need

What are the most important risks for the consumers?

10

Interruptions in services or networks

Lack of liquidity at the points of attention

Complex or confusing interface

Inadequate claim mechanisms

Lack of transparency

Inadequate business practices

Privacy and protection of personal data

Fraud (internal / external)

Adapted from “Well implemented digital finance: Reasons to improve mitigation of customer risks” (CGAP, 2015)

Consumer Empowerment in the Digital Era

12

As part of its digital strategy, the SBS uses ICTs to empower consumers

Financial Education and

orientation webs

E-learning

Comparators Financial tools and games

massive communication,

alerts and reminders

App SBS

In this context the regulator: Designs a predictable and proportional approach to a regulation that does not limit innovative initiatives. Acts to empower the consumers as their own first line of defense.

13

App, websites, online procedures

The app has had more than 272 thousands downloads since it’s launch. In 28.08.17 the App SBS enter the top 15 in the Android downloads in Peru.

SBS App SBS’ Financial Orientation and Education webpages

Online procedures

14

E-learning and comparators

SBS’ Financial Education e-learning

“Finanzas en mi Colegio” e-learning (MINEDU-SBS-CEFI-APESEG)

SBS’ Comparators

Financial Tools and games

15

SBS’ risk bureau report

SBS’ Financial Education Apps

16

Massive Communications, alerts and reminders

Facebook live Mailing Risk bureau alert

Digital Financial Education for school children

Competition 19: Manages economic resources with responsibility.

Competition 28: He/she unfolds in a virtual environments generated by ICT.

Pilo

t Fin

anza

s en

mi C

oleg

io

(MIN

EDU

-SBS

-CEF

I-APE

SEG)

Tools for school children

The interrelation of both competences will support the use of digital finance.

Los Laureles 214, San Isidro, Lima – Perú Central telefónica: (01) 630-9000 www.sbs.gob.pe